General Motors (GM) is scheduled to announce its fourth-quarter earnings before the bell, with investors keenly watching for any residual costs from the new labor contract and seeking updates on the company\u2019s 2024 guidance. Here\u2019s what Wall Street is expecting, according to average estimates:<\/p>\n
\u2013 Adjusted Earnings Per Share: $1.16
\n\u2013 Revenue: $38.67 billion<\/p>\n
Compared to the previous year, these estimates represent a 10.3% decrease in revenue and a 45.3% decline in adjusted earnings per share. Investors are particularly interested in the impact of the new labor contract with the United Auto Workers union and any guidance for the year ahead.<\/p>\n
Analysts predict a \u201cflattish\u201d forecast from GM in 2024, with normalizing vehicle pricing and cost-cutting measures expected to offset higher labor costs resulting from the UAW deal. GM CEO Mary Barra previously mentioned finalizing a budget for 2024 to fully offset the incremental costs of the new labor agreements.<\/p>\n
Investors will also be looking for updates on GM\u2019s electric vehicles and insights into the future of Cruise, GM\u2019s autonomous vehicle subsidiary. Cruise has been under scrutiny following an October incident involving a pedestrian in San Francisco. Last week, internal investigations revealed cultural issues and regulatory challenges at Cruise, but no intentional deception or misleading of regulators was found.<\/p>\n
Cruise is currently under investigation by several entities, including the U.S. Department of Justice and the U.S. Securities and Exchange Commission. GM\u2019s ability to navigate challenges in the electric vehicle space and address concerns surrounding Cruise will be critical for the company\u2019s future trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"
Investors Anticipate Flat 2024 Forecast and Seek Updates on Electric Vehicles and Cruise Autonomous Division<\/p>\n","protected":false},"author":331,"featured_media":28753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79],"tags":[9295,9316,9313],"class_list":["post-28785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auto","tag-auto","tag-cruise","tag-gm"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/28785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/331"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=28785"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/28785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/28753"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=28785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=28785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=28785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}