General Motors is set to report its first-quarter earnings before the bell on Wednesday as the company grapples with the fallout from the coronavirus pandemic that's shuttered factories and devastated sales.
Wall Street is projecting earnings per share of 30 cents on revenue of $31.1 billion, based on Refinitiv consensus estimates. Comparing reported earnings to analyst estimates for GM's first quarter isn't straightforward, though, as the coronavirus pandemic continues to hit global economies and makes earnings impact difficult to assess.
Analysts and investors are watching to see how much cash GM burned in the quarter as well as any guidance for the second quarter and beyond regarding the strength of its balance sheet and restarting U.S. production,Of the Detroit automakers, GM was expected to be best positioned to weather a crisis such as the coronavirus pandemic. For years, the automaker has aggressively cut costs and exited unprofitable markets, including Europe, to fortify its balance sheet.
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