CNBC Television General Motors beats on revenue but misses on EPS in Q2

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «CNBC Television» (@CNBCtelevision). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: CNBC’s Phil LeBeau reports on General Motors’ Q2 earnings after the company missed expectations on the bottom line. For access to live and exclusive video from CNBC subscribe to CNBC PRO: General Motors on Wednesday missed Wall Street’s earnings expectations for the second quarter despite a record operating profit. It also raised its guidance for the year. Here’s how GM did compared with what Wall Street expected based on average estimates compiled by Refinitiv. Adjusted EPS: $ vs. $ expected Revenue: $ billion vs. $30.9 billion expected GM’s second-quarter earnings were dragged down by some $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, most recently last month. The automaker raised its adjusted full-year guidance to between $11.5 billion and $13.5 billion, or $ to $ a share, up from $10 billion to $11 billion, or $ to $ a share. But the second-quarter results were at the low end of GM’s previously guided range and the increased guidance for the year was lower than some analysts expected. GM CFO Paul Jacobson described the company’s outlook to investors Wednesday as “cautious.” GM shares were down by more than 8% during Wednesday morning trading to about $53 a share. The automaker expects headwinds of between $3.5 billion and $4.5 billion during the second half of the year, including commodity costs rising by $1.5 billion and $2.0 billion and lower earnings from its financial arm. GM also expects to produce about 100,000 vehicles less in North America during the second half of the year compared to the first six months. On an unadjusted basis, net income was $2.8 billion for the second quarter compared with a loss of $758 million a year earlier, when the coronavirus pandemic caused rolling shutdowns of its factories. The automaker reported pretax adjusted earnings of $4.1 billion for the second quarter, up from a loss of $536 million a year earlier. “Everyone has been demonstrating remarkable resiliency and adaptability in this rapidly changing environment,” GM CEO Mary Barra said Wednesday during a call with reporters. The adjusted earnings were a record for the second quarter, topping GM’s adjusted earnings before interest and taxes of $3.9 billion, or $ a share, in 2016. GM has been weathering challenges from a global shortage of semiconductor chips, which has caused factory shutdowns and is expected to shave billions off the industry’s earnings in 2021. » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBCTV