GM Q2 Earnings at $2.3B Off -$1.1B YoY

GM Earnings Six Months Ending June 30 2022 – Courtesy GM

Ken Zino of AutoInformed.com on GM Q2 Earnings at $2.3B Off -$1.1B YoY

$2.3 billion, in line with the earnings update the company issued on July 1. This was a significant drop of $1.1 billion in a year-over year comparison as net pricing increases, strong demand and more upscale vehicle sales were more than offset by disrupted production, increased costs and lost sales (90,000 built but not complete?) from lean inventories especially in June. In a word – semiconductors.

GM continues to expect to meet its full-year earnings guidance of between $9.6 billion and $11.2 billion, and EBIT-adjusted of between $13.0 billion and $15.0 billion. GM also forecasts full-year EPS-diluted of between $5.76 and $6.76, and EPS-diluted-adjusted of between $6.50 and $7.50.

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