GM expected to outperform with $2.75/share profit, Ford with 68 cents EPS, Stellantis faces challenges.

From CNBC: 2024-07-22 07:30:01

General Motors (GM) is expected to outperform other Detroit automakers in Q2 with an estimated adjusted profit of $2.75 per share and $45.46 billion in revenue. Ford is forecasted to have a 2Q adjusted EPS of 68 cents, down from 2023. GM’s earnings will be out before markets open on Tuesday, Ford follows Wednesday afternoon, and Stellantis reports Thursday. Both GM and Ford are expected to raise their 2024 guidance, but Stellantis faces operational challenges, with its North American segment under scrutiny. Stellantis expects a double-digit adjusted operating income margin for the year, despite lean sales. Shares for Stellantis are down by more than 12% in 2024. Stellantis CEO Carlos Tavares acknowledges manufacturing and market challenges facing the automaker and predicts an 11.3% revenue decline to 45.37 billion euros this year. GM, Ford, and Stellantis are set to provide updates on their electric vehicle strategies, capital investments, and increasing new vehicle inventory levels.



Read more at CNBC:: GM, Ford, Stellantis second-quarter earnings: What analysts expect