What GM and Ford investors should know ahead of third-quarter earnings

are expected to report solid third-quarter earnings Wednesday despite an ongoing global disruption of supply chains, including a shortage of semiconductor chips that have depleted vehicle inventories but boosted profits this year.

Here's what Wall Street analysts expect from each automaker's third-quarter earnings as well as other things investors should know about before GM reports ahead of the market opening Wednesday, followed by Ford after the markets close.Analyst estimates compiled by Refinitiv expect GM to report earnings per share of 96 cents and revenue of $26.5 billion, down 25.3% compared to a year earlier.

GM said it expects to take a hit of between $3.5 billion to $4.5 billion during the second half of the year, due to a $1.5 billion to $2 billion rise in commodity costs and lower earnings from its financial arm. "We expect both Ford and GM to beat 3Q consensus estimates and maintain/raise full-year guidance. Beyond that, we see several potential catalysts on the horizon for both companies," he said in an investor note Monday, citing electric and autonomous vehicle developments.While the automakers are pouring billions into electric and autonomous vehicles, the segment won't contribute much to their third-quarter earnings.

During the quarter, GM also said it would recognize an estimated recovery in the third-quarter that will offset $1.9 billion of $2.0 billion in charges associated with an ongoing recall of its Chevrolet Bolt EVs as part of a settlement with LG, which produced the defective batteries.Ford's stock is up about 80% this year, so investors will be watching for any additional drag on the automaker heading into next year.

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