Cars and Drivers
GM (GM) Earnings Preview, International Numbers Are Key
Published:
When GM (NYSE: GM) posts earnings it will be the first look at what the company’s expense run rate will be as it moves into 2008. There may be one-time charges for employee buyouts and other restructuring charges, but the firm will at least show how it is scaled for operating expenses over the next four quarters.
The estimates from First Call for the US auto giant are -$0.55 EPS on $44.38 billion in revenues. Next quarter estimates are -$0.27 EPS on $41.99 billion in revenues. Estimates for fiscal 2008 are $1.26 EPS on $177.65 billion in revenues. Management will likely be soft on guidance, but any bullish comments should send the stock up.
The company faces a huge challenge with US car sales likely to fall by one million units in 2008 compared to 2007. GM’s comments on how it see fast-growing markets like China and South America may be the most telling part of the PR and conference call.
Analysts have an average price target of roughly $36.00. General Motors Corporation’s 52-week trading range is $21.34 to $43.20. The stock closed the day just above $27
Douglas A. McIntyre
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