GM made $10B last year despite autoworkers strike, but it's prepared for lower auto prices this year
ABC News
General Motors’ net income rose 12% last year despite losing more than $1 billion when many of its plants were shut down by a six-week autoworkers’ strike
DETROIT -- General Motors' net income rose 12% last year despite losing more than $1 billion when many of its plants were shut down by a six-week autoworkers' strike.
And the company predicts a small improvement this year even as it plans for lower vehicle selling prices due to increased discounts.
The Detroit automaker said it made just over $10 billion last year, up from $8.9 billion in 2022. Excluding one-time items the company made $7.68 per share. That beat analyst estimates of $7.57 per share, according to FactSet.
Full-year revenue was $171.84 billion, about 10% more than in 2022. That also beat estimates of $167.26 billion.
The company predicts there's a good chance that net income will improve a little, from a range of $9.8 billion to $11.2 billion. It expects adjusted earnings per share in a range of $8.50 to $9.50, compared with $7.68 last year.
