Cryptogape
Tuesday, March 21, 2023
  • Home
  • News
    • Markets
    • Companies
    • Press Releases
    • Advertise
  • Tech
    • Security
    • FinTech
    • Blockchain
    • Web3
    • DeFi
  • NFT
    • Gaming
    • Metaverse
    • Art
  • Business
    • IPO
    • Startup
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoin
No Result
View All Result
Cryptogape
  • Home
  • News
    • Markets
    • Companies
    • Press Releases
    • Advertise
  • Tech
    • Security
    • FinTech
    • Blockchain
    • Web3
    • DeFi
  • NFT
    • Gaming
    • Metaverse
    • Art
  • Business
    • IPO
    • Startup
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoin
No Result
View All Result
Cryptogape
No Result
View All Result
Home Markets

GM smashes expectations and predicts a strong 2023 despite tight margins

Cynthia Coleman by Cynthia Coleman
February 2, 2023
in Markets
GM
Share on FacebookShare on Twitter

DEARBORN — For the fourth quarter, General Motors easily outperformed Wall Street’s top and bottom-line projections, and it anticipates another successful year of financial performance in 2023.

In Tuesday’s premarket trade, shares increased by more than 3%.

Fourth-quarter results were slightly better than last year when the automaker reported adjusted earnings per share of $1.35 and revenue of $33.58 billion for the final three months of 2021.

margins

For GM, his full-year 2022 sales were $156.7 billion, net income attributable to shareholders was $9.9 billion, and his adjusted EBIT was his record $14.5 billion. The results hit the high end of the company’s revised EBIT adjustment guidance range.

Nevertheless, automakers are facing cost pressures. GM’s net income fell less than 1% last year, bringing him to $9.9 billion on a 6.3% profit margin. The adjusted margin was 9.2%, down 2.1 percentage points from the prior year.

Tweets by GM

The strong results and guidance show that the U.S. auto industry is slowly recovering after years of record low inventories and resilient consumer demand that has led automakers such as GM to report record performance. Brought to you when things are getting back to normal.

GM anticipates net income attributable to stockholders of between $8.7 billion and $10.1 billion in 2023, adjusted earnings before interest and taxes of between $10.5 billion and $12.5 billion, and diluted and adjusted EPS of between $6 and $7.

The results would fall short of 2022 earnings but surpass Refinitv’s average analyst estimates, which predicted an EPS of $5.73 this year.

According to GM, the automotive industry will generate between $16 and $20 billion in net cash from operating activities by 2023, and it will generate $5 to $7 billion in free cash flow.

Tags: GMmargins

Related Posts

wealth
Markets

In 2022, Norway’s sovereign wealth fund loses $164 billion

February 2, 2023
chip
Markets

Capital spending by Samsung defies chip downturn

February 2, 2023
Jim Chanos
Markets

According to Jim Chanos, the bear market is doing something I’ve never seen before

February 2, 2023
BNB
Markets

The bitcoin price targets $16.7K amid fears that BNB may drag down the entire crypto market

December 22, 2022
BTC bull market
Markets

The BTC bull market still lacks this on-chain signal – David Puell

December 22, 2022
  • Trending
  • Comments
  • Latest
Hester Peirce

The stance of Hester Peirce on crypto regulation

December 22, 2022
FSB

Crypto Companies Will Be Treated Like Banks By The FSB

December 22, 2022
Microsoft metaverse

What’s the difference between Microsoft metaverse and Facebook metaverse?

December 22, 2022
GameFi

GameFi tips from the Web3 community

December 21, 2022
Bitcoin

Despite Bitcoin and Ethereum’s losses, has anything changed?

0
GameFi

GameFi tips from the Web3 community

0
Web3

Bringing the next generation of youth into Web3 is easier with family-friendly NFTs

0
crypto

NFTs and crypto will benefit from Apple’s decision to allow third-party app stores

0
Hill

Congressman Hill to ensure blockchain innovation happens in the US

February 2, 2023
Argo Blockchain

A class action lawsuit accuses Argo Blockchain of misleading investors

February 2, 2023
SEC

Report: US securities regulator probes Wall Street over crypto custody

February 2, 2023
Morrisons

Despite raising prices, Morrisons’ sales and profits plunged in 2022

February 2, 2023

Recent News

Hill

Congressman Hill to ensure blockchain innovation happens in the US

February 2, 2023
Argo Blockchain

A class action lawsuit accuses Argo Blockchain of misleading investors

February 2, 2023
SEC

Report: US securities regulator probes Wall Street over crypto custody

February 2, 2023

Categories

  • Altcoin
  • Art
  • Bitcoin
  • Blockchain
  • Business
  • Companies
  • Cryptocurrency
  • DeFi
  • Ethereum
  • FinTech
  • Gaming
  • IPO
  • Markets
  • Metaverse
  • News
  • NFT
  • Security
  • Startup
  • Tech
  • Web3

Site Navigation

  • Privacy Policy
  • Cookies Policy
  • Disclaimer
  • Terms and conditions
  • Contact Us
  • Advertise
Cryptogape

Welcome to CRYPTOGAPE - your go-to source for breaking news, market analysis, and expert insights on the dynamic world of cryptocurrency. With accurate, timely, and unbiased coverage from our experienced journalists and analysts, you'll have everything you need to stay ahead of the curve. Join our community of crypto enthusiasts today and unleash the power of this transformative technology.

Copyright © 2023 Crypto Gape. All rights reserved

No Result
View All Result
  • News
    • Markets
    • Companies
    • Press Releases
    • Advertise
  • Tech
    • Security
    • FinTech
    • Blockchain
    • Web3
    • DeFi
  • NFT
    • Gaming
    • Metaverse
    • Art
  • Business
    • IPO
    • Startup
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoin
  • Other

Copyright © 2023 Crypto Gape. All rights reserved