General Motors stock rises as Q3 earnings surpass expectations

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.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Earnings playbook: More than 100 companies are slated to report this week, including General MotorsMore than 100 S&P 500 companies are slated to post third-quarter earnings. Among them are Tesla, General Motors and Boeing.
Fuente: CNBC - 🏆 12. / 72 Leer más »

Stocks making the biggest moves premarket: KB Home, Hewlett Packard Enterprises, General Motors and moreThese are the stocks posting the largest moves in premarket trading.
Fuente: CNBC - 🏆 12. / 72 Leer más »

General Motors EV Sales 'Outstrip' The IndustryGeneral Motors' electric car sales in July and August nearly matched its entire Q2 sales, showing signs of a strong momentum.
Fuente: InsideEVs - 🏆 579. / 51 Leer más »

Next week: IMF global economic outlook, General Motors earnings, US existing home salesOn Tuesday, the International Monetary Fund issues its semi-annual World Economic Outlook and General Motors reports its third-quarter financial results. On Wednesday, the National Association of Realtors reports on sales of existing homes in September.
Fuente: AP - 🏆 728. / 51 Leer más »