General Motors (GM) is set to report its third-quarter earnings before the market opens on Tuesday, with Wall Street analysts anticipating solid results.
According to estimates compiled by LSEG, analysts expect GM to post adjusted earnings per share of $2.43 and revenue of $44.59 billion.
If these projections hold, they would represent a slight 1% increase in revenue from the same quarter last year, as well as a 6.6% rise in adjusted earnings per share. For comparison, GM’s third-quarter performance in 2022 included $44.13 billion in revenue and a net income of $3.06 billion, or $2.20 per share. Last year’s adjusted earnings before interest and taxes were $3.56 billion, or $2.28 per share.
The release of the earnings report comes shortly after GM’s recent investor day, where executives expressed confidence that the company’s strong earnings performance would extend into 2024. However, investors will be closely watching for updates on several key areas, including GM’s plans for its Cruise autonomous vehicle division, restructuring efforts in China, and any new details on its electric vehicle (EV) sales strategy and near-term plans.
Following the release of the earnings report, GM executives will host a conference call at 8:30 a.m. ET to discuss the company’s performance and answer questions from analysts.
CNBC contributed to this report.
