Investing.com -- General Motors Co. reported third-quarter earnings that exceeded analyst estimates, driving its stock up 3% in early trading. The automaker's strong performance was fueled by robust revenue growth and improved profitability.
The company's EBIT-adjusted rose 15.5% YoY to $4.1 billion, with an EBIT-adjusted margin of 8.4%, up 0.3 percentage points from the same period last year. GM's North American operations continued to be a key driver, with EBIT-adjusted of $3.98 billion, up 12.9% YoY. In light of its strong performance, GM raised its full-year 2024 guidance. The company now expects EBIT-adjusted between $14 billion and $15 billion, up from the previous range of $13 billion to $15 billion. GM also increased its adjusted EPS forecast to $10.00-$10.50, above the analyst consensus of $9.97.
GM's financial guidance includes anticipated capital spending of $10.5 billion to $11.5 billion for 2024, which encompasses investments in battery cell manufacturing joint ventures.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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.
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: InsideEVs - 🏆 579. / 51 Read more »
Source: AP - 🏆 728. / 51 Read more »