General Motors Earnings: What to Expect
General Motors (NYSE: GM) is set to report its third-quarter earnings before the market opens on Tuesday, Oct. 29. Here's a look at what to expect.
Analysts polled by Thomson Reuters expect GM to report adjusted earnings of $1.31 per share on $33.82 billion in revenue. Both of those figures would be down from the third quarter of 2018, when GM posted adjusted earnings of $1.87 per share on $35.8 billion in revenue. (Adjusted earnings exclude the effects of one-time items.)
GM's U.S. factories went idle at midnight on Monday, Sept. 16, when workers represented by the United Auto Workers union began a nationwide strike against the company. Estimates of the cost of the strike to GM have varied widely. My own thinking is that it probably cost GM somewhere between $3 billion and $4 billion in revenue in the third quarter and between $250 million and $450 million in operating profit.
Source Fool.com
