Automotive manufacturer General Motors (NYSE:GM) will be announcing earnings results this Tuesday before the bell. Here’s what investors should know.
General Motors beat analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $44.02 billion, up 2.3% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ EBITDA estimates.
Is General Motors a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting General Motors’s revenue to decline 2.7% year on year to $46.66 billion, a reversal from the 7.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.47 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. General Motors has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 4% on average.
Looking at General Motors’s peers in the industrials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Winnebago’s revenues decreased 1.4% year on year, missing analysts’ expectations by 0.8%, and Lindsay reported revenues up 21.7%, topping estimates by 4.6%. Winnebago traded down 8.5% following the results while Lindsay was up 3.9%.
Read our full analysis of Winnebago’s results here and Lindsay’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 6.5% on average over the last month. General Motors is up 9.9% during the same time and is heading into earnings with an average analyst price target of $56.08 (compared to the current share price of $53.31).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.