12/31/2023 0 Comments Gm yahoo finance newsCapex and R&D expenses for 2023 are envisioned in the band of $600-$650 million and $380-$420 million, respectively. The company paid cash dividends of 25 cents per share during the reported quarter. PACCAR’s cash and marketable debt securities amounted to $5,922.2 million as of Mar 31, 2023, compared with $6,158.9 million on Dec 31, 2022. Consolidated revenues (including trucks and financial services) came in at $8,473.3 billion, up from $6,472.6 million recorded in the corresponding quarter of 2022. Higher-than-expected pretax income from Trucks, Parts and Financial Services segments resulted in the outperformance. PACCAR’s PCAR earnings of $2.25 per share for first-quarter 2023 beat the Zacks Consensus Estimate of $1.82 and rocketed 95.6% from the year-ago figure. For 2023, it expects deliveries to reach 1.8 million units. Management stuck to its target of around 50% growth in deliveries in the foreseeable future. Tesla reported an overall gross margin of 19.3% for the reported quarter. However, the top line missed the consensus mark of $23,472 million. Total revenues came in at $23,329 million, witnessing year-over-year growth of 24%. Higher-than-expected revenues from its Energy Generation/Storage and Services/Other segments resulted in this outperformance. This marked an earnings beat for the electric vehicle behemoth for the ninth time in a row. Tesla TSLA reported first-quarter 2023 earnings of 85 cents per share, down from the year-ago figure of $1.07 but outpaced the Zacks Consensus Estimate of 83 cents. Adjusted automotive free cash flow is envisioned between $5.5 billion and $7.5 billion, up from the previous projection of $5-$7 billion. Adjusted EPS is expected in the band of $6.35-$7.35 a share, up from the prior forecast of $6-$7. The adjusted EBIT forecast was revised upward to $11-$13 billion from $10.5-$12.5 billion guided before. 2023 Guidance Updatedįor 2023, General Motors’ full-year net income is estimated in the band of $8.4-$9.9 million, down from the previously guided $8.7-$10.1 billion range. The company recorded an adjusted automotive free cash flow of negative $132 million in first-quarter 2023 against $6 million recorded in the year-ago period. General Motors’ net automotive cash provided by operating activities amounted to $2,232 million during the quarter under review. The long-term automotive debt at the end of the quarter was $15,929 million compared with $15,885 million as of Dec 31, 2022. ![]() General Motors had cash and cash equivalents of $18,227 million as of Mar 31, 2023, compared with $19,153 million as of Dec 31, 2022. The reported loss also came in wider than the consensus mark of a loss of $534 million. The segment posted an operating loss of $561 million, wider than a loss of $325 million reported in the prior-year quarter. ![]() GM Cruise recorded net revenues of $25 million in the first quarter, inching down from $26 million recorded in the prior-year quarter and missed the consensus mark of $38.5 million. The segment recorded an EBIT-adjusted operating profit of $771 million, down from $1,284 but topping the consensus mark of $681 million. GM Financial generated net revenues of $3,343 million in the quarter, up from $3,156 million recorded in the year-ago period and came ahead of the consensus mark of $3,140 million. The metric also crossed the consensus mark of $270 million. The unit reported an operating profit of $347 million, increasing from the year-ago profit of $328 million. The segment’s wholesale vehicle sales of 141,000 units increased from 137,000 units in the year-ago quarter. The metric, however, fell short of the consensus mark of $3,965 million. GMI net revenues in the reported quarter came in at $3,727 million, up from the year-ago quarter’s $3,313 million. The segmental profit also beat the consensus mark of $2,799 million. ![]() The segment’s operating profit came in at $3,576 million, increasing from $3,141 million witnessed in the year-earlier period. The region’s wholesale vehicle sales of 723,000 units increased from 694,000 units reported in the year-ago quarter. Also, revenues from the unit outpaced the Zacks Consensus Estimate of $31,556 million. GMNA generated first-quarter net revenues of $32,889 million, up from $29,456 million recorded in the corresponding period of 2022. ![]() General Motors Company price-consensus-eps-surprise-chart | General Motors Company Quote Segmental Performance General Motors Company Price, Consensus and EPS Surprise
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