If I Could Buy 1 Auto Stock, This Would Be It
2022 delivered an obstacle course of scenarios for major automakers to drive through, including semiconductor chip shortages and rising interest rates, among other factors. But you wouldn't know it from looking at General Motors' (NYSE: GM) fourth-quarter results. The Detroit automaker is practically printing money right now.
Here's a quick look at what's behind the better-than-expected earnings and why GM might be the best auto stock to buy.
General Motors reported a strong fourth quarter with earnings per share of $2.12, well ahead of Wall Street estimates of $1.69. It generated $3.8 billion in earnings before interest and taxes (EBIT) from $43.1 billion in sales, which also easily topped estimates of $3.2 billion and $40 billion, respectively.
Source Fool.com
