- General Motors amongst other automotive companies had many highs and lows in 2023, but this record GM is reporting it has made record profits in Q1
- The automaker's revenue is up more than 7% from 2023
- In the attached story, we sat down with GM senior vice president Marissa West and UAW leaders to talk about what this means for not only leaders but for employees as well
(The following is a transcription of the full broadcast story)
One of the biggest companies in our neighborhoods had a big day on Wall Street...
General Motors jumped several percentage points following its first-quarter earnings report...
The automaker reported earnings of 2 dollars and 62 cents per share, well ahead of estimates.
GM also reported revenue of more than 43 billion dollars ($43.01) ... Up more than seven percent from a year ago.
The company also raised its 20-24 guidance...
So while this reporter is a welcome one for investors...
What does it mean for our neighborhoods?
I went to union leaders for the answer.
"Having all three brands back at the Lansing Delta Township plant we see strong continued demand" said Marissa West, GM senior vice president
A record-setting quarter for General Motors. That company leadership attributes in part to more than 4-thousand GM employees right here in our neighborhoods...
"I really want to thank all those workers for everything they do there," West said.
I talked with a few of those workers on Tuesday.
Local 1753 president Dwight Jackson says things are looking up
"From a workers perspective more pay.... tiers gone," he said
Leaders also say that the growing profit aligns with the growing team here in Mid-Michigan.
"The job openings is intriguing for a lot of new people to come in. I expect them to get record profits coming up.... GM is back a household name now" Jackson continued.
That presence in the community includes the addition of a 3rd shift coming later in the year as well as ramped-up electric vehicle production
"I'm liking the way our future is looking. Not just for a mid-term worker which I would be considered since it'll be 10 years in July but new people are coming aboard... The future is looking bright for GM"
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