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General Motors posts better-than-expected earnings and defends latest offer to UAW

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Stock is up in early trade after EPS beats by 41 cents

General Motors Co.’s stock GM, -1.48% rose 1.5% early Tuesday, after the carmaker blew past earnings estimates for the third quarter.

Revenue rose to $44.131 billion from $41.889 billion a year ago, also ahead of the $42.482 billion FactSet consensus. Electric vehicle sales rose 28% from the second quarter after the company produced 32,000 EVs and made the first deliveries of the Chevrolet Blazer EV. It expects further volume increases in the fourth quarter.

“Let me address this head on. It’s been clear coming out of COVID that wages and benefits across the U.S. economy would need to increase because of inflation and other factors,” she said.

 

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