GM earnings: Automaker withdraws 2023 guidance as auto strikes take toll

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.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stocks higher on Treasury rebound, Nvidia PC move, Microsoft, General Electric, General Motors earnings -...Stocks higher, Nvidia, Microsoft, General Electric, General Motors
Herkunft: startelegram - 🏆 248. / 63 Weiterlesen »

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.
Herkunft: startelegram - 🏆 248. / 63 Weiterlesen »

General Motors rises premarket after earnings blow past estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »

General Motors posts better-than-expected earnings and defends latest offer to UAWStock is up in early trade after EPS beats by 41 cents
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »