General Motors’ second-quarter earnings took a $1.1 billion hit from tariffs, but the automaker still beat analyst expectations for the period, supported by strong sales of its core gasoline trucks and SUVs.
The largest US automaker by sales said it expects the tariff impact to worsen in the third quarter and stuck to a previous estimate that trade headwinds threaten to hit the bottom line by $4 billion to $5 billion.
GM said it could take steps to mitigate at least 30% of that impact.
Shares fell about 6% in early trading.
GM’s revenue in the quarter fell nearly 2% to about $47 billion from a year ago. Its quarterly adjusted earnings per share fell to $2.53 compared with $3.06 a year earlier. Bloomberg via Getty Images
The automaker’s revenue in the quarter ended June 30 fell nearly 2% to about $47 billion from a year ago. Its quarterly adjusted earnings per share