General Motors will release earnings before the market closes. That’s what Wall Street wants

detroit- General motor The company is scheduled to report first-quarter earnings earlier Tuesday.

Wall Street expects General Motors to report solid (if not “resilient”) results for the first quarter of this year, largely due to expectations that car prices will remain higher than expected at the start of the year, according to a recent analyst report.

According to average estimates compiled by the London Stock Exchange Group (LSEG), Wall Street expected the following:

• Earnings per share: Adjusted to $2.15
• Income: $41.92 billion

These results mean revenue increased 4.7% from the year-ago period and adjusted earnings per share decreased 3%. General Motors’ first quarter 2023 results were revenue of US$39.99 billion, net profit attributable to shareholders of US$2.4 billion, and before interest and taxes. Adjusted profit was US$3.8 billion.

Beyond the results, some investors expect the company to raise its annual forecast, or at least guide it to meet previously announced targets.

General Motors 2024 guidance in January included net income of $9.8 billion to $11.2 billion, or $8.50 to $9.50 per share, and adjusted Auto Liberty cash flow of $12 billion to $14 billion; billion

The earnings guidance is much better than GM’s performance last year and is at or above many Wall Street analysts’ expectations for flat results in 2023.

Investors will also be watching for any updates on GM’s plans for electric vehicles, its cruise autonomous vehicle unit and its stock repurchase program.

– CNBC Michael Bloom Contribute to this report.

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