General Motors (GM) reported Q4 adjusted earnings Tuesday of $1.24 per diluted share, down from $2.12 a year earlier. Analysts polled by Capital IQ expected $1.14. Revenue for the quarter ended Dec. 31 was $42.98 billion, down from $43.11 billion a year earlier. Analysts surveyed by Capital IQ expected $39.47 billion. For 2024, the company expects adjusted earnings of $8.50 to $9.50 per diluted share. Analysts polled by Capital IQ expect $7.76. GM shares rose more than 7% in premarket trading.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target by $4 to $38, based on a ’25 P/E of 4.5x, a steep but justified discount to historical averages. We increase our adjusted EPS estimates to $8.90 from $6.40 for ’24 and to $8.50 from $6.90 for ’25. GM posts Q4 adjusted EPS of $1.24 vs. $2.12 (-42%), 10 cents ahead of consensus. The beat was driven by a stronger-than-expected top line, as revenue fell 0.3% to $43.0B ($3.5B above consensus) on 3.3% higher sales volumes. GM introduced 2024 adjusted EPS guidance of $8.50-$9.50 (current consensus = $7.76), implying Y/Y growth of 17% at the midpoint versus the $7.68 earned in 2023. The guidance largely reflects an anticipated $1.45/sh. positive impact from the previously announced share repurchase plan, but was a positive