US automaker General Motors raised its guidance for its full-year adjusted pre-tax income after beating Wall Street's expectations in the third quarter.
General Motors lifts full-year outlook
For fiscal 2024, the company now expects adjusted EBITA in a range of $14 billion to USD15 billion, compared to the previous outlook of USD13 billion to USD15 billion.
Earnings per share is now expected to be USD9.14 to USD9.64, compared to the earlier estimate of USD8.93 to USD9.93.
GM said its 2024 financial guidance includes anticipated capital spending of USD10.5 billion to USD11.5 billion, inclusive of investments in the company's battery cell manufacturing joint ventures.
Q3 strong earnings
In its third quarter, revenues grew 10.5% to USD48.76 billion from the prior year's USD44.13 billion while net income attributable to stockholders was USD3.1 billion. Adjusted earnings per share were $2.96, compared to prior year's USD2.28.
