General Motors Q3: Earnings Beat, 5.4% Revenue Growth & More
Portfolio Pulse from Shivani Kumaresan
General Motors (GM) reported Q3 FY23 sales growth of 5.4% YoY to $44.13 billion, beating the analyst consensus estimate of $43.68 billion. Q3 deliveries increased by 5.2% YoY to 1.62 million units. However, costs and expenses rose by 6.8% YoY to $41.1 billion, and operating income fell by 11.1% YoY to $3.01 billion. Adjusted EPS of $2.28 beat the consensus estimate of $1.88. GM shares are trading higher by 1.30% in premarket.
October 24, 2023 | 12:37 pm
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POSITIVE IMPACT
GM's Q3 FY23 results beat estimates with sales growth and higher deliveries, but saw increased costs and lower operating income. Adjusted EPS beat estimates. GM shares are up in premarket trading.
GM's Q3 FY23 results beat estimates, which is positive for the stock. However, the increase in costs and decrease in operating income could be a concern for investors. The beat on adjusted EPS and the increase in premarket trading indicate a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100