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General Motors to announce 1Q financial results on Monday

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General Motors to announce 1Q financial results on Monday

BY TIM HIGGINS

FREE PRESS BUSINESS WRITER

General Motors today announced that on Monday it will release its financial results for the first three months of this year.

The hotly anticipated numbers will give greater insight into how the Detroit automaker’s turnaround plan is progressing. They also will provide an indication of U.S. taxpayers’ prospects for recouping the money used to rescue the automaker last year, which led to the government having a majority stake in the company that it plans to sell after GM issues publicly traded stock.

GM Chief Financial Officer Chris Liddell is slated to discuss the results with financial analysts and reporters Monday afternoon.

Earlier this week, Steven Rattner, the former head of the Obama administration’s automotive task force, said GM might report a profit for the first quarter.

GM officials in recent weeks have seemed optimistic about the company’s performance so far this year. The automaker’s U.S. sales are up 14% through April compared to last year.

link:

http://www.freep.com/article/20100513/BUSINESS0101/100513027/1210/BUSINESS01/GM-to-announce-1Q-results-on-Monday

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