The GM logo is seen in front of the General Motors headquarters in Detroit on March 16, 2021.

Rebecca Cook | reuters

Detroit – General Motors is set to report its first-quarter earnings before the bell Tuesday.

According to recent analyst notes, Wall Street expects General Motors to post solid, if not “resilient” results for the first quarter of this year, largely driven by expectations that vehicle prices will be lower at the beginning of the year. Will be more than expected.

According to the average estimate compiled by LSEG, this is what Wall Street is expecting:

  • earnings per share: $2.15 adjusted
  • Income: $41.92 billion

Those results would show a 4.7% increase in revenue and a 3% decline in adjusted earnings per share compared to a year ago. GM’s First Quarter 2023 Results This included revenues of $39.99 billion, net income attributable to shareholders of $2.4 billion and adjusted earnings before interest and taxes of $3.8 billion.

Beyond the results, some investors expect the company to raise its annual forecast, or, at least, guide toward the top of its previously announced targets.

GM’s 2024 guidance Shares issued in January included net income attributable to shareholders of $9.8 billion to $11.2 billion, or $8.50 to $9.50 per share earnings; adjusted earnings before interest and taxes, or EBIT, of $12 billion to $14 billion; and adjusted automotive free cash flow of $8 billion to $10 billion.

The earnings guidance was largely better than GM’s results last year and in line with or above many Wall Street analysts’ expectations of flat results through 2023.

Investors will also keep an eye on any updates to GM’s electric vehicle plans cruise autonomous car unit and its stock buyback program.

– CNBC michael bloom Contributed to this report.

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

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