General Motors is expected to report first quarter operating earnings more than double a year earlier, driven by recovery in the US and strong sales in Asia.
The results due out at 12:30BST are expected to follow those of Ford which last week posted its best first-quarter profit in 13 years as higher prices for redesigned vehicles offset pressure from spiking commodity and oil prices, Reuters reported.
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Analysts polled by Thomson Reuters I/B/E/S expect GM to report an operating profit of US$1.72bn, or 91 cents a share, on sales of $35.6bn.
In Q1 2010, GM earned $742m, before a gain associated with the sale of Saab Automobile, on sales of $31.5bn.
Investors expect GM to reiterate that the parts shortages caused by the March 11 earthquake and tsunami off Japan have not had a material effect on its earnings.
In 2011 GM stands to gain 1.1 percentage points in market share and boost this year’s profits before interest and taxes by $1bn due to the struggles at Toyota and other Japanese automakers, UBS analyst Colin Langan said in a research note cited by the news agency.
