2024-01-30 07:06:36 ET
General Motors Co (NYSE: GM) is trading up in premarket on Tuesday after reporting better-than-expected financial results for its fourth quarter.
General Motors issues upbeat future guidance
Investors are cheering also because the management sees another strong year ahead.
General Motors expects its adjusted per-share earnings to fall between $8.50 and $9.50 in 2024 on up to $10 billion of automotive free cash flow.
The guidance topped both Street estimates as well as the full-year results GM reported this morning. Paul Jacobson – its chief of finance said in a press release today:
As we begin 2024, I believe GM is well positioned for another year of strong financial performance.
General Motors Q4 earnings snapshot
- Earned $2.1 billion versus the year-ago $2.0 billion
- Per-share earnings also climbed from $1.39 to $1.59
- Adjusted EPS printed at $1.24 as per the earnings report
- Revenue remained about flat year-on-year at $42.98 billion
- Consensus was $1.16 a share on $38.67 billion in revenue
General Motors reported $1.1 billion in special charges related to the UAW strike ( read more ) on Tuesday. Commenting on China, CFO Jacobson said today:
The team is doing a good job of managing through a challenging situation but we’re going to have a tough first quarter.
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