 "FILE PHOTO: The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo")
General Motors posted strong financial results for its first quarter on Tuesday, but says it will reassess its expectations for 2025 due to auto tariffs.
The automaker is pushing back its conference call to discuss its guidance and quarterly results until Thursday, so that it can assess potential tariff changes.
GM said that its initial full-year financial forecast doesn't contemplate the potential impact of tariffs. In January the company announced that it anticipated 2025 adjusted earnings in a range of USD 11 to USD 12 per share.
Late Monday The Wall Street Journal reported that President Donald Trump will possibly be dialling back on automotive tariffs, with anonymous sources claiming that he'll stop duties on foreign-made cars from piling on top of other tariffs he implemented and easing some levies on foreign parts used to make cars in the US.
General Motors earned USD 2.78 billion, or USD 3.35 per share, for the three months ended March 31. A year earlier it earned USD 2.98 billion, or USD 2.56 per share.
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Removing one-time charges and benefits, GM earned USD 2.78 per share, topping the USD 2.68 per share that Wall Street had expected, according to a survey by FactSet.
Revenue climbed to USD 44.02 billion from USD 43.01 billion.
GM's stock declined more than 3 per cent before the market opened.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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