General Motors Beats
General Motors (GM) reported 3rd Quarter September 2017 earnings of $1.32 per share on revenue of $33.6 billion. The consensus earnings estimate was $1.07 per share on revenue of $36.2 billion. The Earnings Whisper number was $1.21 per share. Revenue fell 21.5% compared to the same quarter a year ago.
The company said in its full press release it expects 2017 earnings of $6.00 to $6.50 per share. The current consensus earnings estimate is $6.11 per share for the year ending December 31, 2017.
General Motors Company designs, builds and sells cars, trucks and automobile parts. The Company also provides automotive financing services through General Motors Financial Company, Inc.
GM Reports Income of $0.1 Billion and EBIT-adjusted of $2.5 Billion from Continuing Operations
General Motors Co. (GM) today announced solid third-quarter performance in all operating segments driven by robust results in North America and China, solid improvement in South America, continued growth of GM Financial and an intense focus on costs.
Third-quarter 2017 highlights:
• Income from continuing operations impacted by $2.3 billion non-cash charge related to deferred tax assets no longer realizable due to Opel/Vauxhall sale
-- EPS-diluted of $0.08 and EPS diluted-adj. of $1.32, from continuing operations
• Achieved first profitable quarter in all business segments, including South America, since Q4 2014
-- GMF posted record revenues of $3.2 billion
For complete details and to see reconciliations of non-GAAP measures to their most directly comparable GAAP measures, click here to download the full press release, or visit the GM Investor Relations website.
(Note: All comparisons are year-over-year versus Q3 2016)
Investor analyst conference call
GM Chairman and CEO Mary Barra and Executive Vice President and CFO Chuck Stevens will host a conference call for investor analysts at 9 a.m. EDT today to discuss third-quarter business results. The call will include introductory remarks followed by a question and answer session for analysts. Journalists who wish to listen to the call may dial in using the following numbers:
United States: 1-888-808-8618
Name of Call:
GM Earnings Call
General Motors Co. (GM, TSX: GMM), its subsidiaries and joint venture entities produce and sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands. GM has leadership positions in several of the worlds most significant automotive markets and is committed to lead the future of personal mobility. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
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SOURCE General Motors