Automotive manufacturer General Motors (NYSE: GM) will be reporting earnings tomorrow before market hours. Here’s what investors should know.
General Motors beat analysts’ revenue expectations by 8% last quarter, reporting revenues of $47.7 billion, up 11% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ sales volume estimates and full-year EPS guidance exceeding analysts’ expectations.
Is General Motors a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting General Motors’s revenue to be flat year on year at $42.85 billion, slowing from the 7.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.66 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. General Motors has missed Wall Street’s revenue estimates twice over the last two years.
Looking at General Motors’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Winnebago’s revenues decreased 11.9% year on year, beating analysts’ expectations by 0.6%, and Tesla reported a revenue decline of 9.2%, falling short of estimates by 8.1%. Winnebago’s stock price was unchanged after the results, while Tesla was up 5.3%.
Read our full analysis of Winnebago’s results here and Tesla’s results here.
Investors in the industrials segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. General Motors’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $55.74 (compared to the current share price of $47.20).
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