Goldman Sachs said it anticipates GM's forecast to be below consensus, "driven by price and mix as well as lower financial services profits." The automaker is expected to guide toward a roughly 20% decline in adjusted earnings per share for the full year 2023, according to Refinitiv estimates.
Automakers have posted record results in recent years amid a tight supply of new vehicles and resilient consumer demand. They've counted on sustainedBut that scenario is slowly normalizing, leaving new vehicleDuring the fourth quarter of 2021, GM reported an adjusted EPS of $1.35 and revenue of $33.58 billion, topping Wall Street's EPS estimate of $1.19 per share but falling short of the estimate of $34.01 billion in revenue, according to Refinitiv.
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