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GM Earnings Are Coming. At This Point, What Else Could Go Wrong?

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GM has been hurting by rising interest rates, mounting competition, and a UAW strike.

General Motors third-quarter results are coming Tuesday morning. What management says about labor, costs, and interest rates matters more for the stock.

Coming into the report, full-year EPS guidance was $8.60 to $9.10 a share from sales of about $32.5 billion to $33.9 billion.Top of mind is the United Auto Workers strike which began on Sept 15. Some 9,300 GM workers are on strike, about 20% of GM’s UAW-represented workers. UAW President Shawn Fain responded by indicating the union would ask for more. Tuesday will be a chance for investors to hear more from CEO Mary Barra about how the strike could end, and how far GM is willing to go on wage and other concessions.The strike has weighed on GM stock for months. Through Monday trading, GM stock is down about 24% since the start of July. The S&P 500 is off about 5% over the same span.

 

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