General Motors reported second-quarter results that exceeded analyst expectations as the automaker raised its full-year profit guidance.
General Motors reported second-quarter results on Tuesday that topped market expectations, with the company raising its full-year guidance for the second time this year. The automaker posted adjusted earnings per share of $3.57, surpassing the $3.19 estimated by analysts, while reporting adjusted EBIT of $3.94 billion. Despite a 4.2% decline in U.S. vehicle sales compared to the previous year, General Motors maintained its position as the country's top-selling automaker. CEO Mary Barra noted that strong demand for pickups and SUVs in North America helped offset a sharp pullback in electric vehicle demand. The company also reported that North American profits surged 43 percent from a year earlier to $3.45 billion. Looking ahead, General Motors updated its full-year expectations, now projecting an adjusted EBIT of $14.0 billion to $16.0 billion. CFO Paul Jacobson noted that while tariff costs remain a factor, the company is successfully leveraging government offsets and supply chain improvements to protect its bottom line.