Trending: GM Boosts FY24 Profit Outlook
14:18 ET -- General Motors is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. The Detroit-based automaker raised its outlook for the year and now expects earnings per share of $8.94 to $9.94 and adjusted earnings of $9 to $10 a share. GM's 2024 guidance includes anticipated capital spending of $10.5 billion to $11.5 billion, inclusive of investments in battery-cell-manufacturing joint ventures. Driven by solid U.S. sales of pickup trucks, GM said first-quarter revenue rose 7.6%, to $43 billion, and profit rose 24%, to nearly $3 billion. First-quarter per-share earnings were $2.56, or $2.62 on an adjusted basis. GM said strength in its home market helped offset weakness overseas. Dow Jones & Co. owns Factiva. (jennifer.tershak@wsj.com)
(END) Dow Jones Newswires
April 23, 2024 14:33 ET (18:33 GMT)
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