GM did beat on both the top and bottom lines, but said the UAW strike has cost $800 million so farGM CFO Paul Jacobson said the company was pulling its previously announced profit guidance of $12 billion to $14 billion in EBIT and net income attributable to stockholders of between $9.3 billion and $10.7 billion.
Jacobson also said the labor strikes, which started in mid-September have cost the automaker roughly $800 million in pre-tax earnings due to lost vehicle production, including $200 million during the third quarter.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks higher on Treasury rebound, Nvidia PC move, Microsoft, General Electric, General Motors earnings -...Stocks higher, Nvidia, Microsoft, General Electric, General Motors
Read more »
General Electric surges on Q3 earnings beat, 2023 profit forecast boostGE Aviation once again powered the group's third quarter top and bottom lines, with GE now forecasting full-year free cash low north of $5 billion.
Read more »
General Motors rises premarket after earnings blow past estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Read more »
General Motors posts better-than-expected earnings and defends latest offer to UAWStock is up in early trade after EPS beats by 41 cents
Read more »