The company also announced the suspension of any further stock buybacks as it navigates these challenges, News.Az reports, citing CNBC.
Here’s how the company performed in the first quarter, compared with average estimates compiled by LSEG:
- Earnings per share: $2.78 adjusted vs. $2.74 expected
- Revenue: $44.02 billion vs. $43.05 billion
GM’s 2025 guidance from January, which did not take tariffs into account, included net income attributable to stockholders of $11.2 billion to $12.5 billion, or $11 to $12 in earnings per share; adjusted earnings before interest and taxes of $13.7 billion to $15.7 billion, or $11 to $12 adjusted EPS; and adjusted automotive free cash flow between $11 billion and $13 billion.
“We believe the future impacts of tariffs could be significant, so we are reassessing our guidance and look forward to sharing more when we have greater clarity,” GM CFO Paul Jacobson said during a media call. “The prior guidance can’t be relied upon, and we’ll come back to the market with clarity as soon as we have it.”
GM declined to say it was formally withdrawing or suspending the guidance, but said it was calling it unreliable until the company has additional clarity on the economic and regulatory environments.
Jacobson declined to disclose how much the tariffs, including 25% levies on imported vehicles effective April 3, have cost the Detroit automaker thus far. He also declined to discuss any new actions the company has taken to avoid additional costs until the company’s call with investors, which was moved from Tuesday to 8:30 a.m. ET on Thursday amid potential regulatory changes.
The Wall Street Journal on Monday reported that Trump is expected to soften the impact of his automotive tariffs, preventing duties on foreign-made cars from stacking on top of other tariffs such as steel and aluminum that have been imposed.
The report also says the administration will modify its tariffs on imported auto parts, allowing automakers to be reimbursed for those tariffs up to an amount equal to 3.75% of the value of a U.S.-made car for one year. The reimbursement would fall to 2.5% of the car’s value in a second year, and then be phased out altogether, according to the Journal.
