GM CEO Mary Barra talks with media prior to the start of the 2017 General Motors Company Annual Meeting of Stockholders Tuesday, June 6, 2017 at GM Global Headquarters in Detroit, Michigan.
Photo by John F. Martin for GM
General Motors reported its second-quarter earnings before the U.S. markets open on Tuesday.
Here are the numbers:
- Earnings per share: $1.14 a share, vs. $1.20 estimate according to Refinitiv
- Revenue: $35.76 billion, vs. $33.58 billion Refinitiv consensus estimate.
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.
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.
