General Motors (GM, Financial) shares fell by 2% after reporting strong Q1 results, with both EPS and revenue exceeding expectations. However, GM's FY25 guidance does not account for potential tariff impacts, suggesting it's under review.

• GM postponed its Q1 earnings call from today to Thursday to gain clarity on tariffs affecting auto components. President Trump is expected to discuss potential tariff relief at a Michigan rally, which might be why GM delayed the call.
• This postponement could be causing investor anxiety, contributing to the stock's weakness.
• Q1 revenue increased by 2.3% year-over-year to $44.02 billion, slightly exceeding expectations. However, this marks GM's smallest year-over-year growth since Q4 2023, as it compares to a strong post-UAW strike Q1 2024.
• Adjusted EBIT, a key metric, dropped 9.8% year-over-year but grew 39% sequentially to $3.49 billion. Adjusted EBIT margin decreased to 7.9% from 9.0% a year ago. GM had previously guided FY25 adjusted EBIT between $13.7-15.7 billion and adjusted EPS of $11.00-12.00, but these figures may be reassessed.

GM's Q1 report lacked detailed insights, especially regarding its Q2 and FY25 outlook. Investors are likely concerned about potential guidance suspension or revisions. The stock has been declining as the market awaits tariff-related clarity.