General Motors Company (NYSE:GM) expects its 2025 adjusted earnings to be in a “similar range” to its results this year, CFO Paul Jacobson told investors on Tuesday.
The automaker is targeting adjusted earnings before interest and taxes (EBIT) in the range of $13 billion to $15 billion, or $9.50 to $10.50 per share.
This is up from its earlier guidance of $12.5 billion to $14.5 billion, or $9 to $10 per share.
The company’s targets are ambitious amid a slowdown in auto industry sales and consumer spending.
Jacobson did not provide specific financial targets for 2025, which will be formally released early next year.
He added that GM’s earnings will be boosted by $2 billion to $4 billion in improved earnings from its electric vehicles (EVs), as well as growing sales of its gas-powered vehicles.
The CFO said that, based on GM’s current assumptions, the company will have eight vehicles on the market that will be approximately 9 points higher in EBIT margin than their previous comparable models.
GM’s capital spending is also expected to be consistent in 2025 with this year, the CFO added.
The company has guided capital spending between $10.5 billion and $11.5 billion for 2024.