General Motors is gearing up to announce its second-quarter results, and the expectations on Wall Street are high. Analysts are predicting that GM will outperform its competitors in Detroit, with steady sales and vehicle prices in the first half of the year. The average estimates compiled by LSEG suggest that GM will report earnings per share of $2.75 adjusted and revenue of $45.46 billion. This would represent a 1.6% increase in revenue compared to the previous year and a significant 44.2% increase in adjusted earnings per share.
In addition to the second-quarter results, investors are eagerly awaiting GM’s guidance for 2024. The automaker has already raised its guidance, with expectations of adjusted earnings ranging from $12.5 billion to $14.5 billion, or $9 to $10 a share. Furthermore, GM anticipates adjusted automotive free cash flow to fall within the range of $8.5 billion to $10.5 billion. Several analysts on Wall Street are speculating that GM may even exceed these expectations or raise them further.
Aside from financial results, investors will be closely monitoring GM’s updates on its all-electric vehicle plans, capital expenditures, and operations in China. The company has faced challenges in the Chinese market recently, with issues surrounding sales and earnings. It will be crucial for GM to address these concerns and provide insight into its strategies for overcoming obstacles in this key market.
Overall, General Motors is entering the second quarter with high hopes and strong projections. The company’s ability to meet or exceed expectations will be closely scrutinized by investors and industry analysts alike. With a focus on electric vehicles and a watchful eye on international operations, GM must navigate a complex landscape to maintain its position as a leading automotive manufacturer. Stay tuned for updates as GM releases its quarterly results and provides guidance for the future.