GM has surpassed Q3 revenue and profit projections but removed 2023 projections due to labor strike uncertainty.

CFO Paul Jacobson said the automaker was withdrawing its profit projection of $12 billion to $14 billion in EBIT and $9.3 billion to $10.7 billion in net income attributable to stockholders.

GM’s top-line revenue for Q3 was $44.13 billion, up 5.4% from the previous year.

Labor strikes at GM parts and distribution centers cost the automaker $800 million in pre-tax earnings due to delayed vehicle production.

GM is also limiting electric vehicle investments and aims to be all-electric by 2035 and invest $35 billion on electrification by 2025.