General Motors is about to report second-quarter earnings

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  • GM will report its second-quarter results early on Tuesday, before the US markets open.
  • GM warned investors on July 1 that it had about 95,000 vehicles with missing components in its inventory.
  • Like other global automakers, GM has been working through supply-chain disruptions for the last several quarters.

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General Motors is set to report its second-quarter earnings before the US markets open on Tuesday.

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Here’s what Wall Street is expecting.

  • Adjusted earnings per share: $1.20, according to Refinitiv consensus estimates.
  • Revenue: $33.58 billion, according to Refinitiv consensus estimates.

Like other global automakers, GM has been working through supply-chain disruptions for the last several quarters as Covid-19 outbreaks – and more recently, Russia’s invasion of Ukraine – have forced factory shutdowns and wreaked havoc with logistics around the world.

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GM warned investors on July 1 that it had about 95,000 vehicles with missing components in its inventory. That could push GM’s second-quarter revenue below expectations, since GM – like most automakers – books revenue when a completed vehicle is shipped to dealers, not before.

GM at the time maintained its previous guidance for the full year, however, saying that it expected to complete and ship those vehicles before year-end.

For the second quarter of 2021, GM reported adjusted EPS of $1.97 on revenue of $34.17 billion.

This is breaking news. Please check back for updates.

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Credit: www.cnbc.com /

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