GM Beats Fourth Quarter Estimates, Sees Higher Profit in 2024

Bloomberg01-30

General Motors Co. beat Wall Street expectations for the fourth quarter and expects profits this year to grow on improved sales in the US — but may still fall short of record levels set two years ago....

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1170686612?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-01-30 22:38","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1170686612","market":"us","top_or_hot":-1,"title":"GM Beats Fourth Quarter Estimates, Sees Higher Profit in 2024","media":"Bloomberg","content":"<div>\n<p>General Motors Co. beat Wall Street expectations for the fourth quarter and expects profits this year to grow on improved sales in the US — but may still fall short of record levels set two years ago....</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-01-30/gm-beats-fourth-quarter-estimates-sees-higher-profit-in-2024\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GM Beats Fourth Quarter Estimates, Sees Higher Profit in 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGM Beats Fourth Quarter Estimates, Sees Higher Profit in 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-30 22:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-01-30/gm-beats-fourth-quarter-estimates-sees-higher-profit-in-2024><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>General Motors Co. beat Wall Street expectations for the fourth quarter and expects profits this year to grow on improved sales in the US — but may still fall short of record levels set two years ago....</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-01-30/gm-beats-fourth-quarter-estimates-sees-higher-profit-in-2024\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GM","symbol_name":"通用汽车","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-01-30/gm-beats-fourth-quarter-estimates-sees-higher-profit-in-2024","article_id":"1170686612","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1170686612","pubTimestamp":1706625534,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"General Motors Co. beat Wall Street expectations for the fourth quarter and expects profits this year to grow on improved sales in the US — but may still fall short of record levels set two years ago.","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"GM":"通用汽车"},"translate_title":"通用汽车第四季度超出预期，预计2024年利润将更高","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GM":1.1},"content_text":"General Motors Co. beat Wall Street expectations for the fourth quarter and expects profits this year to grow on improved sales in the US — but may still fall short of record levels set two years ago.GM shares jumped 9.4% in morning trading Tuesday.The Detroit automaker said Tuesday that adjusted earnings before interest and taxes for all of 2023 came to $12.4 billion, at the high end of GM’s November forecast for up to $12.7 billion. For the current year, GM sees adjusted EBIT in a range of $12 billion to $14 billion. The low end of that is shy of 2022’s record $14.5 billionGM’s guidance for stronger profits this year shows the two distinctively different sides of the automaker. While it struggles to build electric vehicles that are a keystone of Chief Executive Officer Mary Barra’s long-term growth plan and its Cruise robotaxi business is on full reboot, GM’s core business of making gasoline-powered trucks and SUVs is throwing off a lot of cash.Those proceeds are going back into R&D while also funding rich buybacks and dividend hikes.GM expects demand for vehicles to remain robust, spurred in part by optimism about a soft-landing for the US economy — a stark shift from its previous caution about economic headwinds.“Consensus is growing that the US economy, the job market and auto sales will continue to be resilient,” Barra said in a letter to shareholders. She added that the company expects overall US auto sales to climb to about 16 million vehicles “with the mix of EVs continuing to grow.”That’s up from 15.5 million in the US last year and would be the highest level since 2019.GM’s more bullish outlook for profits stems less from an uptick in global sales than from belief its biggest problems in 2023 are in the rearview mirror. GM will spend about $1 billion less on robotaxi unit Cruise, a $1.7 billion drain from its EV business is seen shrinking and the company won’t suffer another strike, which ate $1.1 billion last year.It reported fourth-quarter adjusted profit of $1.24 a share on Tuesday, besting analysts’ projection for $1.16 a share. But that was below the $2.12 per share a year ago and $2.28 per share in the third quarter, partly as a result of a 46-day strike that shut down several plants.GM’s revenue in the latest quarter totaled $43 billion, down slightly from the same period in 2023 but above analysts’ projection for $39.53 billion.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1170686612"}