GM - General Motors' Potential In EV Transformation Weighed By Analysts After Q1 Beat- Was This a 'Prove Me' Quarter For CEO Mary Barra? | Benzinga
General Motors Company (NYSE:GM) shares are trading higher on Tuesday after raising its outlook for FY24, following a first-quarter beat.
General Motors projects adjusted earnings per share of $9.00 – $10.00, higher than the prior view of $8.50 – $9.50.
According to Wedbush analyst Daniel Ives, the company is focusing heavily on profitability, with expenses continuing to be a big priority.
This was a major “prove me” quarter for General Motors, which shows the long-awaited turnaround for the company’s CEO, Mary Barra.
Importantly, honing in on the EV transformation, the company expects to be EV variable margin positive in the second half of the year, with at least a 60-point EBIT margin improvement this year and mid-single digit EBIT EV margin in 2025, including the benefits from the ...