General Motors (NYSE 🙂 announced its Q1 results. EPS came in at $2.09, which was higher than the consensus estimate (1.68). 35.98 Billion was revenue, which is higher than the $37.01 billion consensus estimate.

According to the company’s Chair and CEO Mary Barra’s letter to shareholders, management reiterated its full 2022-year financial guidance, given the strong demand for the company’s vehicles, including its dramatically redesigned Chevrolet and GMC light-duty pickups launching now, its cost discipline, and the progress of its growth plan.

The consensus estimate for 2022 EPS was $6.70. However, the company anticipates a range of $6.50-7.50. Expected net income to range from $9.6 billion to $11.2 billion and adjusted EBIT between $13 billion and $15 billion.

GM’s shares have fallen 35% in the past year.

By Davit Kirakosyan