DETROIT (Reuters) - General Motors Co said on Wednesday it expects to report third-quarter earnings up to $2.1 billion and would report a profit for the full year.
GM, which announced the pricing of its initial public offering on Wednesday, also said shareholders approved a 3-for-1 stock split.
“We will deliver a solid and profitable first year post-bankruptcy, and we are continuing to improve our balance sheet and most importantly, the quality of our vehicles,” Chief Financial Officer Chris Liddell said in a statement.
GM expects to report earnings before interest and tax of $2.2 billion to $2.4 billion for the third quarter.
Fourth-quarter earnings before interest and tax will be significantly lower than the first three quarters of the year because of different production schedules, costs for introducing its Chevy Cruze small car and electric Chevy Volt and increased engineering spending for future products, GM said.
GM plans to release third-quarter results one week from today.
Reporting by David Bailey. Editing by Robert MacMillan
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