US Stocks: GM's core profit rises 22% on strength of pickup-truck business
General Motors exceeded analyst expectations in third-quarter earnings, driven by robust demand for their pickups and SUVs. The company reported an adjusted EBIT of $4.1 billion, marking a 22% year-over-year increase. Despite facing inflationary challenges, GM forecasts an adjusted EBIT of $14.5 billion to $15.5 billion by 2026. Additionally, a $20 billion stock buyback program was...
Key Takeaways
- General Motors exceeded analyst expectations in third-quarter earnings, driven by robust demand for their pickups and SUVs.
- The company reported an adjusted EBIT of $4.1 billion, marking a 22% year-over-year increase.
- Despite facing inflationary challenges, GM forecasts an adjusted EBIT of $14.5 billion to $15.5 billion by 2026.
General Motors exceeded analyst expectations in third-quarter earnings, driven by robust demand for their pickups and SUVs. The company reported an adjusted EBIT of $4.1 billion, marking a 22% year-over-year increase. Despite facing inflationary challenges, GM forecasts an adjusted EBIT of $14.5 billion to $15.5 billion by 2026. Additionally, a $20 billion stock buyback program was initiated to bolster share value.
Original Publisher Attribution
This summary was curated from Economic Times.