General Motors (GM) is set to release its first-quarter earnings, and Wall Street is expecting solid results. Analysts believe that the company’s strong performance will be driven by higher-than-expected vehicle pricing at the beginning of the year.
According to average estimates compiled by LSEG, GM is expected to report earnings per share of $2.15 and revenue of $41.92 billion for the first quarter. These figures represent a 4.7% increase in revenue compared to the previous year and a 3% decline in adjusted earnings per share.
Aside from the financial results, investors are also anticipating an update on GM’s annual forecast. Some expect the company to raise its forecast or guide towards the top end of its previously announced targets. In January, GM released its 2024 guidance, which included a net income of $9.8 billion to $11.2 billion and adjusted earnings before interest and taxes of $12 billion to $14 billion. These figures were better than GM’s results in 2023 and in line with or higher than analysts’ expectations.
Investors will also be closely watching for any updates on GM’s electric vehicle plans, its autonomous car unit called Cruise, and its stock buyback program. The company’s commitment to electric vehicles has been a focus in recent years, with plans to introduce more electric models to its lineup. Additionally, GM’s Cruise unit has been making significant progress in developing autonomous driving technology.
Overall, the anticipation is high for GM’s first-quarter earnings release. With expectations of solid results and potential updates on key initiatives, investors will be keeping a close eye on the company’s performance and future prospects.
Please note that this article is based on preliminary information, and additional updates may follow.
 first-quarter earnings and what it means for investors. Wall Street expects solid results driven by higher vehicle pricing, with potential updates on electric vehicle plans and autonomous driving technology. Find out more here.){kind=link}