General Motors absorbs $1.1 billion in tariff costs
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General Motors Company slumped in Tuesday’s premarket session after reporting a sharp drop in adjusted EBIT margins to 6.4% and a whopping $1.1 billion tariff headwind. The auto behemoth registered second-quarter adjusted earnings per share of $2.
General Motors is set to report its second-quarter earnings before the bell Tuesday. Wall Street analysts expect adjusted earnings per share of $2.44 and revenue of $46.4 billion. GM executives will host an earnings conference call at 8:30 a.m. ET.
Live Updates Live Coverage Updates appear automatically as they are published. Conference Call Details 8:03 am by Eric Bleeker General Motors will host its earnings call on Tuesday, July 22 at 8:30 am ET.
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General Motors Company (GM) on Tuesday reported second-quarter earnings of $1.9 billion. On a per-share basis, the Detroit-based company said it had profit of $1.91.
Another reason that Cadillac could be a sneaky help to General Motors' EV ambitions is because the administration's tariff policy has a very limited impact on Cadillac. The brand is almost entirely produced in the U.S., with the exception of the Optiq that is produced in Mexico.
General Motors is the latest company to record a hit from the president’s trade war. But so far, investors remain upbeat.