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General Motors Co. stock fell nearly 1% late Tuesday after the auto maker reported mixed quarterly results, missing on sales as it tried to sidestep supply-chain constraints.
GM
GM,
said it earned $1.7 billion, or $1.16 a share, in the fourth quarter, compared with earnings of $2.8 billion, or $1.93 a share, in the year-ago period. Adjusted for one-time items, GM earned $1.35 a share.
Sales fell to $33.6 billion from $37.5 billion a year ago.
Analysts polled by FactSet expected GM to report adjusted earnings of $1.16 a share on sales of $35.8 billion.
GM earlier this year unveiled its highly anticipated Silverado electric pickup, and during a conference call following results analysts will zero in the timing and production ramp for the vehicle.
GM stock has gained around 4% in the past 12 months, underperforming the S&P 500 index
SPX,
which has gained about 20% in the same period.
