GM Says Reinstated Guidance Includes An Estimated $1.1B EBIT-Adjusted Impact From The UAW Strike, Primarily From Lost Production
Portfolio Pulse from Benzinga Newsdesk
GM has updated its financial guidance, factoring in an estimated $1.1 billion EBIT-adjusted impact from the UAW strike, primarily due to lost production. The new guidance includes a net income range of $9.1 billion to $9.7 billion, down from the previous $9.3 billion to $10.7 billion. EBIT-adjusted is now expected to be between $11.7 billion and $12.7 billion, a decrease from the earlier $12.0 billion to $14.0 billion forecast. EPS-diluted-adjusted is projected to be $7.20 to $7.70, including the ASR, slightly adjusted from the prior $7.15 to $8.15 range.
November 29, 2023 | 11:42 am
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GM's updated guidance reflects the financial impact of the UAW strike with lower projected net income and EBIT-adjusted figures, and a narrowed EPS range.
The UAW strike has led to significant production losses for GM, which is directly reflected in the company's revised financial guidance. The lowered net income and EBIT-adjusted projections, along with the adjusted EPS range, are likely to be viewed negatively by investors in the short term, potentially leading to a decrease in stock price.
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