GM boosts full-year outlook as it foresees a smaller impact from tariffs
By MICHELLE CHAPMAN
General Motors anticipates a smaller impact from tariffs and is boosting its full-year adjusted earnings forecast as its third-quarter performance topped Wall Street’s expectations.
Related Articles
-
Netflix blames tax dispute in Brazil for rare quarterly earnings letdown -
Comedian Preacher Lawson revealed as secret savior for Winter Park’s Austin’s Coffee -
Activist investor group that includes Travis Kelce aims to revive struggling Six Flags -
Ex-Amazon driver sues civil rights agency for dropping her case following Trump’s executive order -
‘Massive legal siege’ against social media companies looms
Shares surged more than 15% in afternoon trading on Tuesday, its biggest one-day jump since May 2018.
The automaker reduced its expectations for the full-year gross impact from tariffs to a range of $3.5 billion to $4.5 billion. Its previous guidance was $4 billion to $5 billion. GM anticipates its tariff mitigation actions will offset about 35% of the impact due to a lower tariff base.