The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021.
Rebecca Cook | Reuters
DETROIT — General Motors is about to report its third-quarter earnings before the bell Tuesday.
Here’s what Wall Street is expecting, in line with average estimates compiled by LSEG, formerly generally known as Refinitiv.
- Adjusted earnings per share: $1.88
- Revenue: $43.68 billion
Those results would mark a 4.3% increase in revenue in comparison with a 12 months earlier, but a major dent to earnings per share.
GM has been navigating ongoing strikes by members of the United Auto Employees after the union and Detroit automakers failed to succeed in tentative labor deals by a Sept. 14 deadline for contracts covering 146,000 union staff.
The UAW has been expanding work stoppages at GM, Ford Motor and Stellantis as bargaining continues. As of Monday, greater than 40,000 UAW members on the automakers, or roughly 28% of UAW members covered by the expired contracts, were on strike.
Of the Detroit automakers, GM has the fewest variety of staff — roughly 9,200 — currently on strike. The UAW hasn’t expanded strikes at GM since Sept. 29.
GM has previously said the work stoppage cost it roughly $200 million in lost production in September.
That is breaking news. Please check back for extra updates.