General Motors falls short of Wall Street expectations as supply chain challenges dent profit

Source: CNBC

“General Motors reported second-quarter earnings Tuesday that missed Wall Street’s estimates after the company was unable to ship nearly 100,000 vehicles by quarter-end due to parts shortages. But the company maintained its previous earnings guidance for the full year, saying it’s confident it will be able to ramp up production in the second half of 2022. It also confirmed it has locked in sufficient supplies of critical battery-related materials to support its mid-decade EV plans. The company’s shares were down roughly 1% in premarket trading Tuesday.” (07/26/22)