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General Motors recorded better-than-expected results for the second quarter and updated its forecast for the year, but it seems that this is not enough for investors. The company recorded earnings per share of $1.91 on revenues of $44.7 billion. Wall Street expected earnings per share of $1.87 on revenues of $42.1 billion. The operating profit was 3.2 billion dollars, in line with expectations.
In its forecast for the entire year, General Motors expects an operating profit of 12-14 billion dollars. Last April, the company expected an operating profit of 11-13 billion dollars. This is the company's second forecast update, when in January the company expected the operating profit to fall to 10.5-12.5 billion dollars. The market expectation is that the operating profit will be 11.8 billion dollars.
Despite the stock drop, this looks like a pretty good quarter for the automaker in an environment of uncertainty. Sales and profits saw a partial improvement after solutions to supply chain problems, including the chip shortage, began to be found.
General Motors delivered 591,978 vehicles in the US in the second quarter, compared to 582,401 deliveries last year. The inventory found at car dealers stands at 427,973 units, an increase from 250,000 about a year ago.
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Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.
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The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
