GM Boosts Profit Outlook as Pickups Buck Rising Gas Prices (1)

General Motors Co. raised its profit outlook for the year by $500 million, saying its pickups and sport utility vehicles continue to sell even as gasoline prices soar due to the war in Iran.

The Detroit-based automaker now expects as much as $15.5 billion in adjusted earnings before interest and taxes this year, the company said Tuesday as it reported first-quarter profit that topped Wall Street’s estimates. The raised outlook reflects about $500 million of tariff cost relief tied to the US Supreme Court’s decision in February to strike down certain levies that President Donald Trump imposed on countries last ...