By Dean Seal
General Motors cut its outlook for the year to account for an estimated $4 billion to $5 billion impact from the Trump administration's automotive tariffs.
The automaker said Thursday that it now expects to post a profit of $8.2 billion to $10.1 billion for the full year, down from prior projections for $11.2 billion to $12.5 billion.
Adjusted earnings, which strip out one-time items, are on track to hit $8.25 to $10 a share instead of $11 to $12 a share, as previously forecast.
GM said earlier this week that it was shelving its profit guidance and would provide an update when executives had more clarity on the tariff situation. The company also delayed its first-quarter earnings call until Thursday.
On Wednesday, President Trump softened his auto tariffs to stop new levies from stacking on top of other tariffs he has imposed. He also pulled back on some tariffs on foreign parts used to make cars in the U.S.
In its update, GM said it is still looking at $10 billion to $11 billion in capital spending for 2025.
Shares were up 2.8% at $46.50 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 01, 2025 07:03 ET (11:03 GMT)
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