A General Motors Co. (GM) Chevrolet 2020 Silverado HD High Country edition pickup truck sits on the assembly line during a reveal event at the GM plant in Flint, Michigan, U.S., on Tuesday, Feb. 5, 2019.
Jeff Kowalsky | Bloomberg | Getty Images
General Motors, the largest U.S. automaker, is expected to report its second-quarter earnings Thursday as the industry faces a slowdown in sales.
Here’s what Wall Street expects, based on average analysts’ estimates compiled by Refinitiv:
- Adjusted earnings per share: $1.44
In April, GM said vehicle sales fell 7% from a year ago, but said that buyers were opting for the company’s more expensive sport utility vehicles and pickup trucks. GM plans to launch more full-size pickups during the second half of 2019, with two new heavy-duty pickups from Chevrolet and GMC.
GM has recently cut more than 14,000 jobs at factories in the U.S. and Canada after idling factories that produced slow-selling vehicles. The company is also shifting focus toward self-driving and electrified vehicles like the Chevy Bolt EV.
Shares of GM have risen more than 7% over the last 12 months and are up more than 21% since the beginning of the year.
This is breaking news. Please check back for updates.
Source : CNBC
