General Motors (GM) Foresees Stronger 2019 Backed By Launches
Zacks Investment Research | Jan 14, 2019 07:24AM ET
Shares of General Motors Company (NYSE:GM) gained roughly 7.1% in a day’s trading on Jan 11. The rise in share price can be attributed to the company’s prediction of an earnings growth in 2019 along with an expectation of surpassing earnings estimates in 2018. The company will release its fourth-quarter and 2018 earnings on Feb 6.
For 2019, General Motors expects earnings per share to witness an uptrend compared with the prior expectation of 2018. The figure is projected to be between $6.50 and $7.00 in 2019 compared with its prior expectation of $5.80-$6.20 in 2018. Further, this Detroit-based automaker expects adjusted cash free cash flow of $4.5-$6 billion for the current year. New vehicle lineups of trucks, crossovers and SUVs are likely to boost General Motors’ earnings in 2019.
Despite predictions of a gloomy car market in 2019, this automaker predicts the U.S. market to remain strong, with an annual industry sale in the lower range of 17 million vehicles. In the US automotive market, the company expects to continue with its retail market growth through new Chevrolet Silverado and GMC Sierra light-duty full-size pickup trucks. Apart from trucks, the company’s Cadillac XT4, Chevrolet Blazer and all-new Cadillac XT6 luxury SUV are also expected to witness strong demand.
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