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GM misses Wall Street Q2 earnings expectations, raises 2021 guidance

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General Motors missed Wall Street’s earnings expectations for the second-quarter despite a strong profit and raising its guidance for the year.

GM’s second-quarter earnings were dragged down due to about $1.3 billion in warranty recall costs, including $800 million related to the Chevrolet Bolt EV. The electric vehicle has been recalled twice in the past year due to fire risks.

Here’s how GM did compared with what Wall Street expected based on average estimates compiled by Refinitiv.

  • Adjusted EPS: $1.97 vs. $2.23 expected
  • Revenue: $34.17 billion vs. $30.9 billion expected

The automaker on Wednesday raised its adjusted full-year guidance to between $11.5 billion and $13.5 billion, or $5.40 to…



Source cnbc.com

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