Kelly Cloonan
General Motors is scheduled to report its third-quarter results on Tuesday. Here is what you need to know.
NET INCOME: The automaker is expected to post a profit of $3.29 billion, compared with $2.69 billion the year before, according to FactSet.
ADJUSTED EARNINGS: Stripping out certain one-time items, earnings are expected to come in at $3.70 a share, compared with $2.80 a share the prior year.
REVENUE: The company is expected to report $48.83 billion in sales, compared with $48.59 billion in the year-earlier quarter, according to FactSet.
The stock has risen 9.1% in the past three months and recently traded around $83.01.
WHAT TO WATCH:
--Earlier this month GM reported a 5.5% decline in third-quarter vehicle sales, hurt by discontinued models and a diminished market for electric vehicles. The company's sales have also come under pressure from sluggish demand for some of its big sport-utility vehicles as gas prices remain elevated. Some Americans are turning to smaller vehicles instead, with the company reporting higher sales for its small SUVs like the Chevrolet Trax and Trailblazer in the quarter.
--With gas prices pressuring affordability, Wall Street will be paying close attention to the company's market share. GM remains America's top carmaker by volume, a title that Toyota is closing in on, but foreign competitors have been gaining momentum with more budget-conscious options.
--Amid a tough global auto market, GM and other automakers have been eyeing new revenue streams. GM in particular has been looking to military work. Last month Lockheed Martin said GM is supplying parts for Patriot missiles. The automaker is also in talks to supply Lockheed Martin with parts for other missile lines, The Wall Street Journal reported.
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