GM Narrows Full-Year Adjusted EPS Outlook as Costs Rise
General Motors narrowed its full-year adjusted earnings-per-share outlook as higher commodity and logistics costs tied to the Iran war overshadowed higher third-quarter profit and revenue.
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01:53:40 PM UTC
SquawkNews
Shares of General Motors (GM) are down 5% after the Detroit automaker lowered its forward guidance.For the year’s third quarter, General Motors reported earnings per share (EPS) of $3.70 U.S., which beat the $3.63 U.S. that was forecast on Wall Street.Revenue in the period totaled $50.02 billion U…
02:20:13 PM UTC
SquawkNews
What Happened? Shares of automotive manufacturer General Motors NYSE:GMfell 7.2% in the pre-market session after the company tightened its full-year adjusted earnings-per-share guidance, with the midpoint falling short of Wall Street estimates.In a company press release, General Motors narrowed its…
Kelly CloonanGeneral Motors shares fell as mounting cost pressures overshadowed higher third-quarter profit and revenue.A runup in commodity and logistics costs due to the war in Iran has prompted the automaker to narrow its full-year outlook for adjusted earnings per share, following two consecuti…