GM's shares fell by 1.3% in premarket trading.
Adjusted earnings per share: $1.93 vs. $1.64 expected, based on average analysts' estimates compiled by Refinitiv.The company said it expects to earn $10 billion to $11 billion, or $4.50 to $5.25 per share, in adjusted pretax profits this year. It projects adjusted free cash flow of $1 billion to $2 billion for its automotive division in 2021. The forecasts factor in the potential impact of the chip shortage, including a hit of $1.5 billion to $2.5 billion to its free cash flow.
On an unadjusted basis, net income was $2.85 billion for the fourth quarter compared with a loss of $194 million. The automaker reported pretax adjusted earnings of $3.7 billion for the fourth quarter, up from $105 million a year earlier. The company expects to spend $9 billion to $10 billion in 2021. That includes plans to accelerate its all-electric and autonomous vehicle development and rollouts as well as deferred spending from last year due to the pandemic. GM previously said its annual capital expenditure costs would exceed $7 billion through at least 2023.
Josh Maybe I’ll manage to get a PlayStation 5 by Christmas 2022
Josh I owe you an apology to ever doubt your sincerity and professionalism. It’s was just like a dream to me when I received my first payment. After my second payment it became a reality now after several payments it has become a way of life. SamuelEddy_
Josh Why is CNBC such trash? Questions we’ll never have answers to.
Josh Tariffs, embargoes and sanctions have consequences.
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And having a shit lineup will do the rest.
GinoG01328427 here we go.
gm, yesterday
Tesla has chips
Earnings or revenue?that is a whole lot of vehicles to generate $2 billion in earnings. (Cheaper chips are available & no one uses all those toys which can be upgraded later when GM recalls those vehicles later which they inevitable will.)
Ford has a ton of debt although a better buy. Tons of highly anticipated new models with long waiting lists to get them.
Josh 26 weeks if they're lucky + add the hoarding dimension. typically the best lead times are reserved for the best customers and many of those are distributors. can't even being to tell you how complex it gets after that RWMann
Josh The way my leaps are going to be up bigly when we get a handle on this shortage .... paytience!