General Motors is set to report earnings before the bell. Here's what Wall Street expects

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DETROIT — General Motors is set to report its second-quarter earnings before the bell Tuesday. The Detroit automaker is expected to report solid results, driven by favorable industry trends of high prices on new vehicles and increased sales and production. Here's what Wall Street is expecting, according to Refinitiv consensus estimates: Adjusted earnings per share: $1.85 $1.85 Revenue: $42.64 billion Those results would mark sharp year-over-year increases of roughly 62% in adjusted EPS and 19% in revenue. Some Wall Street analysts believe GM could raise its guidance for a second time this year on the back of stronger-than-expected sales and vehicle pricing for the second quarter. But the company may remain conservative due to potential challenges during the second half of the year, including softening prices and contract negotiations with the United Auto Workers union. GM previously issued 2023 forecasts of adjusted earnings between $11 billion and $13 billion, or $6.35 to $7.35 a share, and adjusted automotive free cash flow between $5.5 billion and $7.5 billion. Net income is expected to be $8.4 billion to $9.9 billion. When reporting its first-quarter results in April, the automaker increased its adjusted earnings guidance and free cash flow but lowered its forecasted net income due to $875 million in special charges related to a previously announced employee buyout program during the quarter. Shares of GM are up roughly 16% this year. They closed Monday at $39.30 per share — off from a 52-week high of $43.63 per share, notched in February.