General Motors (GM) Tops Q1 EPS by 51c, Beats on Revenue; Offers FY23 Guidance
General Motors (NYSE: GM) reported Q1 EPS of $2.21, $0.51 better than the analyst estimate of $1.70. Revenue for the quarter came in at $40 billion versus the consensus estimate of $38.4 billion.
For FY23 the company guided:
- U.S. GAAP net income attributable to stockholders of $8.4 billion-$9.9 billion, compared to the previous outlook of $8.7 billion-$10.1 billion, including $0.9 billion of charges related to the voluntary separation program
- EBIT-adjusted of $11.0 billion-$13.0 billion, compared to the previous outlook of $10.5 billion-$12.5 billion
- U.S. GAAP net automotive cash provided by operating activities of $16.5 billion-$20.5 billion, compared to the previous outlook of $16.0 billion-$20.0 billion
- Adjusted automotive free cash flow of $5.5 billion-$7.5 billion, compared to the previous outlook of $5.0 billion-$7.0 billion
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