5 Much-Awaited Earnings Reports to Watch

4. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 90

Shares of General Motors Company (NYSE:GM) turned green in the after-hours trading session on Tuesday, April 26, 2022, following its upbeat profit for the first quarter. The Michigan-based automaker earned $2.09 per share on an adjusted basis, crushing expectations of $1.68 per share.

On the downside, the quarterly revenue of $35.98 billion missed expectations of $37.01 billion. General Motors Company (NYSE:GM) is the first major U.S. automobile company to report Q1 results. Many are closely watching the report to get a clear idea of the ongoing global supply chain issues.

Looking forward, General Motors Company (NYSE:GM) now expects adjusted earnings in the range of $6.50 – $7.50 per share for the full year, up from its previous outlook between $6.25 – $7.25 per share.

Updating investors on its electric vehicle (EV) production targets, CEO Mary Barra said in a statement:

“Launching more EVs faster is the catalyst for growth, and we are accelerating our volumes, growing to 1 million units of EV capacity in North America by the end of 2025, and expanding from there. In North America alone, we target production of 400,000 all-electric vehicles over the course of 2022 and 2023.”