Automakers like Tesla and GM have positive Q2 earnings expectations

From Nasdaq: 2024-07-22 17:00:00

This week, major automakers like Tesla and General Motors will report Q2 earnings. Tesla delivered 443,956 EVs in Q2, topping estimates. General Motors’ Q2 EPS is expected to increase 38% to $2.64 on sales of $44.94 billion. Ford’s Q2 EPS is projected to decline -14% to $0.62 with sales dropping -2% to $41.65 billion.

Stocks of GM and Ford have a Zacks Rank #2 (Buy) ahead of their Q2 reports. Both companies show growth in EV deliveries and have attractive P/E valuations. Tesla’s stock has seen a significant rally recently and lands a Zacks Rank #3 (Hold). Future buying opportunities may arise for Tesla, GM, and Ford.

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Read more at Nasdaq: Time to Buy Tesla, GM, or Ford’s Stock as Q2 Earnings Approach?