General Motors (NYSE:GM) reported robust financial results for its first quarter on Tuesday, but the automaker announced it will reassess its expectations for 2025, citing potential changes to auto tariffs.
The company has postponed its conference call to discuss its quarterly performance and forward-looking guidance until Thursday, stating the delay is necessary to fully assess potential tariff adjustments.
This decision follows a report late Monday by The Wall Street Journal, which, citing anonymous sources, suggested President Donald Trump may be considering scaling back automotive tariffs.
The report indicated possible moves include preventing new duties on foreign-made cars from stacking on top of existing tariffs and easing some levies on foreign parts used in vehicles manufactured in the U.S.
For the first three months of the year ending March 31, General Motors earned $2.78 billion, or $3.35 per share.
This compares to $2.98 billion, or $2.56 per share, in the same period a year prior.
Excluding certain one-time charges and benefits, GM posted adjusted earnings of $2.78 per share, surpassing the $2.68 per share expected by Wall Street analysts, according to a survey by FactSet.
Revenue for the quarter climbed to $44.02 billion, up from $43.01 billion a year earlier.
Despite the solid financial performance, GM's stock declined more than 2% in pre-market trading on Tuesday morning.