GM beats on Q3 earnings, raises profit forecast for 3rd time this year

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Investors are expecting more upbeat results from GM after the automaker raised its guidance for a second time earlier this year. Questions around GM’s EV...

) gave investors something to cheer early Tuesday morning after the automaker raised its guidance for a third time this year, in addition to easily beating third quarter revenue and profit expectations.

IN Q3, GM delivered 659,601 vehicles, down 2% compared with a year ago; however, retail sales were up 3%. GM said it delivered more vehicles than any other automaker in the US in the quarter.Not surprisingly, GM’s sales of pickups and full-size SUVs led the way, but EV sales were also a highlight. Amid a drop in sales for the Bolt EV, GM’s other EV models picked up the slack with sales of 32,195 EVs in total, up 60% compared to a year ago.

Looking ahead, Barra said GM expects 2025 EBIT-adjusted to be at a similar range to full year 2024 results, as the company said during its investor day. CAMBRIDGE, Mass., October 22, 2024--According to Forrester’s 2025 technology and security predictions, 75% of technology decision-makers will see their technical debt rise to a moderate or high level of severity by 2026. This will be due to the rapid development of AI solutions, which are adding complexity to IT landscapes.

 

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