The American multinational corporation that manufactures, and distributes vehicles, reported Q1 2021 results that topped consensus
General Motors revealed an adjusted EPS of $2.25 ahead of the $1.04 previously touted. At the same time, revenue figures came in at $32.47 billion vs $32.67 billion forecasted. The company stated that strong figures were expected despite the global semiconductor chip shortage that has caused plant closures.
For the future, GM reiterated its guidance. It expects its EPS to reach a high of $5.25 on revenues of $11 billion. The adjusted cash flow is seen at $2 billion for 2021. The forecasts include the potential impact of the current semiconductor chip shortage.
“The speed and agility of our team are front and center as we move from managing through a pandemic to managing the global semiconductor shortage,” she said in a letter to shareholders. […] This remains a challenging period for the company as we emerge from 2020, but the team continues to demonstrate its ability to manage complex situations,” stated the company’s CEO Mary Barra.
During pre-market trading, GM stock price added more than 3%.
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Key Way Markets Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.