GM earnings top forecasts, company raises outlook and sees 'variable profit' in EV unit by year-end

) kept the earnings momentum going with strong first quarter results on Tuesday, as the automaker upped its full-year guidance and said it still sees "positive variable profit" in its EV business in the back half of 2024.top-line revenue of $43.0 billion, more than the $42.09 billion analysts were expecting, according to Bloomberg data. That was a jump of 7% on the same period a year ago and matched the last quarter's $43 billion in sales.

GM CFO Paul Jacobson said in a media call with reporters that boosting GM's guidance following its "strong" first quarter was "the right thing to do.” LINCOLNWOOD, ILLINOIS - JANUARY 31: A Cadillac Lyriq 450E is offered for sale at the Zeigler Cadillac of Lincolnwood dealership on January 31, 2023 in Lincolnwood, Illinois. General Motors, the makers of the Cadillac brand, reported better than expected fourth-quarter earnings today and predicted a strong 2023, sending the stock price up more than 8 percent at the close of trading. GM had previously abandoned its goal of building 400,000 EVs through mid-2024.

Chevrolet’s Blazer EV notched just 500 sales in the quarter, though it only resumed sales in March following a halt in sales due to a software issue. The highly anticipated Equinox EV begins sales later in the second quarter, with prices Auto parts distributor LKQ cut its full-year sales forecast on Tuesday and missed estimates for first-quarter profit amid falling metal prices and softening demand for spares in North America.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Wall Street Strategists Split on Profit Path as Stocks Pull BackEquity strategists at Wall Street’s top banks are split on whether Corporate America can deliver on robust earnings forecasts for this year.
Bron: BNNBloomberg - 🏆 83. / 50 Lees verder »

P&G raises full-year outlook in mixed Q3 earnings resultsProcter & Gamble (PG), which produces a variety of cleaning and personal hygiene products, posted mixed fiscal third-quarter earnings on Friday. While...
Bron: YahooFinanceCA - 🏆 47. / 63 Lees verder »

GM earnings preview: Updated guidance, EV-hybrid rollout in focusFollowing another strong year in 2023 and positive retail sales growth in 2024, GM investors are counting on the Big Three automaker to keep the earnings...
Bron: YahooFinanceCA - 🏆 47. / 63 Lees verder »

US quarterly earnings to feature big growth in tech-related companiesBig technology-related company earnings are expected to again lead S&P 500 profit growth in the upcoming U.S. reporting period, which could refuel optimism...
Bron: YahooFinanceCA - 🏆 47. / 63 Lees verder »