GM Beats on Profit and Sales, Expects More Strength in 2023 [Yahoo! Finance News]
General Motors Company (GM)
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Source: Yahoo! Finance News
(Bloomberg) -- General Motors Co. expects its earnings momentum to grow this year on higher production volumes after reporting a better-than-expected profit in the last three months of 202Most Read from BloombergThe Detroit automaker reported fourth-quarter adjusted profit of $12 a share on Tuesday, beating analysts’ projection for $67 a share. That surpassed a $35 per share a year ago but came in below $25 per share in the third quarter.Adjusted earnings before interest and taxes for all of 2022 came to $15 billion, at the high end of ’s November forecast of $15 billion to $15 billion. or the current year, sees adjusted profit in a range of $10.5 billion to $15 billion, or $6 to $7 a share — above analysts’ projections for $70 per share.The company is counting on continued demand for its highest profit margin SUVs and trucks and increased vehicle production levels as pandemic-era supply chain problems fade. It expects its sales volume to grow by 5% to 10%. That bullish outlook comes
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- GM's page on the SEC website