UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production Thursday, May 6, 2021, at the General Motors Orion Assembly plant in Orion Township, Michigan.
Steve Fecht for Chevrolet
DETROIT – General Motors is set to report its third-quarter earnings before the bell on Tuesday.
Here’s what Wall Street expects, according to Refinitiv’s consensus estimates:
- Adjusted earnings per share: $1.88
- Income: 42.22 billion dollars
Most investors are expected to look past the Detroit automaker’s results during the quarter in favor of any changes in guidance or comments related to larger economic issues. Inflation in particular has already dominated the conversation on Wall Street at the start of earnings season.
Auto industry earnings and forecasts are being watched closely by investors for any sign that consumer demand may weaken amid rising interest rates and recession fears.
In July, GM reaffirmed its previously announced guidance for the year that called for net income between $9.6 billion and $11.2 billion and adjusted earnings before interest and taxes of $13 billion to $15 billion, or $6.50 and $7.50 per share. .
GM also forecast full-year automotive net cash of $16 billion to $19 billion and guided for adjusted automotive free cash flow in the range of $7 billion to $9 billion.
During last year’s third quarter, the company reported adjusted EPS of $1.52 and revenue of $26.78 billion, beating Wall Street’s estimates of 96 cents per share and $26.51 billion revenue, according to Refinitiv.
This story is developing. Please check back for updates.