General Motors shares surged 10% after Q3 results exceeded expectations. GM raised its full-year guidance for the third time, projecting adjusted EBIT of $14-15B and free cash flow of $12.5-13.5B for FY 2025. General Motors' electric vehicle deliveries surged 60% year-over-year, indicating strong momentum and improved profitability prospects in the EV segment.
BofA Securities analyst John Murphy reiterated the Buy rating on General Motors Company GM with a price objective of $85.
With General Motors shares hitting a one-year high on standout third-quarter results, let's assess if you should book profits or stay invested for further gains.
GM is outperforming rivals in internal combustion vehicles and electric vehicles.
Third-quarter results unveiled Tuesday show revenue, at nearly $49 billion, beating analysts' expectations by 8%, while operating profit came in 22% higher. While arch-rival Ford Motor remains 17% below its 2018 sales volume, GM clawed back to a 5% deficit. Its electric effort - stumbling for years as battery plants scaled up - is gaining traction. Benefits from pricing boosted profitability by $1 billion from the prior year. The company raised the bottom end of expected operating profit for the full year to $14 billion, from $13 billion previously.
Tom Narayan of RBC Capital Markets is bullish on GM as the company is set to benefit from its robust market share North America.
Seeing a sharp post-earnings rally, General Motors (GM) shares spiked +9% in today's trading session with Tesla's (TSLA) stock down -0.3% ahead of its Q3 report after-market hours on Wednesday, October 23.
Major U.S. equities were mixed and little changed on Tuesday as investors reacted to an array of earnings reports and increasing uncertainty around the Federal Reserve's plans for additional interest-rate cuts.
General Motors (GM) delivered a beat and a raise sending the automaker's stock higher. Following the earnings report, Yahoo Finance's Executive Editor, Brian Sozzi, sat down with General Motors' CFO, Paul Jacobson, to discuss the results.
General Motors just boosted earnings guidance for the third straight time.
Chad Morganlander, Washington Crossing Advisors, joins 'Power Lunch' to discuss stock plays for three stocks.
The Street loves General Motors Company's GM earnings. The stock is rallying and appears to be breaking out.