GM raises 2024 earnings guidance after easily topping Wall Street’s third-quarter expectations

DETROIT — General Motors is set to report its third-quarter earnings before the bell Tuesday.

Here is what Wall Street is expecting, according to average estimates compiled by LSEG:

• Earnings per share: $2.43 adjusted
• Revenue: $44.59 billion

Those results would mark a 1% uptick in revenue compared with a year earlier and a 6.6% increase in adjusted earnings per share.

GM’s 2023 third quarter included $44.13 billion in revenue, net income attributable to stockholders of $3.06 billion, or $2.20 per share, and adjusted earnings before interest and taxes of $3.56 billion, or $2.28 per share.

The quarterly report comes just two weeks after a GM investor day in which the company indicated its earnings strength is expected to continue into next year.

Topics of interest for investors that were not addressed earlier this month include GM’s funding plans for its embattled Cruise autonomous vehicle unit, China restructuring and any updates regarding its near-term electric vehicle sales and plans.

This is developing news. Please check back for additional updates.