GM's core profit rises 22% on strength of pickup-truck business

General Motors

Tue 11:30

By Kalea Hall
Oct 20 (Reuters) - General Motors’ GM.N third-quarter results easily beat analyst expectations on the back of resolute shoppers who continue to spring for pricey pickups and SUVs. 
The company on Tuesday said quarterly earnings before ​interest and tax, not including one-time items (adjusted EBIT) rose 22% from a year earlier, to $4.1 billion. That amounted to $3.70 per share, topping analyst expectations of $3.63, according to LSEG data.
The automaker said it expected to end 2026 with adjusted EBIT in the range of $14.5 billion to $15.5 billion, narrowed from previous guidance of $14 billion to $16 billion. The company said it remained confident despite inflationary pressures from higher logistics and energy costs, tariffs and other expenses.
     

(Reporting by Kalea Hall; Editing by Mike Colias)
((kalea.hall@thomsonreuters.com))