General Motors’ 3Q17 earnings
General Motors (GM), the largest US automaker, is set to release its 3Q17 earnings report on October 24. According to 2016 US auto sales volumes, GM had the largest market share in the country, higher than Ford Motor (F), Fiat Chrysler (FCAU), and Toyota (TM). Before we find out what analysts are expecting from GM’s 3Q17 earnings, let’s explore how its stock has performed in October so far.
GM stock in October 2017 so far
As of October 16, GM stock has risen by about 13.3% against 1.5% gains from the S&P 500 Index (SPY). During the month, direct peers (IYK) Ford and Toyota have also risen on Wall Street by about 1.3% and 3.6%, respectively.
In the first three quarters of 2017, the company’s total US sales fell 0.8% YoY (year-over-year). Meanwhile, the company’s retails sales have also fallen 0.7%. A sharp fall in GM’s US small car sales was the key reason for its total US declines in the first three quarters.
In September, General Motors reported a handsome rise of 11.9% in its US sales, which turned investors’ sentiments to positive.
In this series, we’ll look at Wall Street analysts’ estimates for GM’s 3Q17 margins and revenue. We’ll also find out what analysts are recommending for GM stock before its 3Q17 report. Also, we’ll explore what other key announcements investors can expect from the company’s second-quarter earnings event.
In the next part, we’ll go through a quick recap of General Motors’ 2Q17 earnings, and then we’ll move on to its 3Q17 earnings estimates.