Mary Barra, CEO, GM on the NYSE, November 17, 2022.
DETROIT — General Motors is about to report its fourth-quarter earnings earlier than the bell Tuesday. Here’s what Wall Street is anticipating, based on Refinitiv consensus estimates:
- Adjusted earnings per share: $1.69
- Revenue: $40.65 billion
GM in November tightened its projected vary for 2022 adjusted earnings to between $13.5 billion and $14.5 billion, in contrast with earlier steerage of between $13 billion and $15 billion. It additionally elevated its money circulate steerage to between $10 billion and $11 billion, up from $7 billion to $9 billion.
While buyers will probably be watching the fourth-quarter outcomes for indicators of any waning client demand or profit dilution, the automaker’s 2023 steerage is anticipated to be within the highlight.
Goldman Sachs stated it anticipates GM’s forecast to be beneath consensus, “pushed by worth and blend in addition to decrease monetary providers income.” The automaker is anticipated to information towards a roughly 20% decline in adjusted earnings per share for the complete 12 months 2023, based on Refinitiv estimates.
Automakers have posted document outcomes in recent times amid a good provide of recent autos and resilient client demand. They’ve counted on sustained pent-up demand as stock ranges regulate, hoping to keep away from heavy reductions or incentives to promote autos.
But that situation is slowly normalizing, leaving new car prices and profits in flux.
During the fourth quarter of 2021, GM reported an adjusted EPS of $1.35 and income of $33.58 billion, topping Wall Street’s EPS estimate of $1.19 per share however falling in need of the estimate of $34.01 billion in income, based on Refinitiv.
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