GM - GM CEO Mary Barra Says 2023 Challenges Were Just 'Bumps In The Road' Automaker Confident In All Aspects Of Future Business | Benzinga
General Motors Co (NASDAQ: GM) is in the spotlight Wednesday after the company reinstated guidance and announced an accelerated buyback. CEO Mary Barra says the challenges GM faced in 2023 are now behind the company.
What Happened: GM reinstated guidance Wednesday morning after previously withdrawing guidance due to labor disruptions caused by the UAW strikes.
GM now expects full-year 2023 adjusted earnings to be between $7.20 and $7.70 per share, which includes an estimated $1.1 billion EBIT-adjusted impact from the strikes. Adjusted automotive free cash flow is now expected to be between $10.5 billion and $11.5 billion, up from a range of $7 billion to $9 billion.
GM also announced intentions to increase its dividend by 33% and laid out plans for a $10 billion accelerated share repurchase program in ...