GM
$36.85
General Motors
$1.08
3.02%
Earnings Details
2nd Quarter June 2020
Wednesday, July 29, 2020 7:30:00 AM
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Summary

General Motors Beats

General Motors (GM) reported a 2nd Quarter June 2020 loss of $0.50 per share on revenue of $16.8 billion. The consensus estimate was a loss of $1.72 per share on revenue of $18.4 billion. The Earnings Whisper number was for a loss of $1.51 per share. Revenue fell 53.5% compared to the same quarter a year ago.

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.

Results
Reported Earnings
($0.50)
Earnings Whisper
($1.51)
Consensus Estimate
($1.72)
Reported Revenue
$16.78 Bil
Revenue Estimate
$18.43 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

GM Second-Quarter Results Show Business Resiliency

DETROIT, July 29, 2020 /PRNewswire/ -- General Motors Co. (NYSE: GM) today reported solid second-quarter earnings, despite significant impacts to production and wholesales as a result of the COVID-19 pandemic. The results reflect actions GM has taken over the past few years to be more resilient.

Second-quarter 2020 results:

  • EPS-diluted of $(0.56), and EPS-diluted-adjusted of $(0.50)
    • EPS-diluted-adjusted includes a $0.08 gain from PSA revaluations
  • Income of $(0.8) billion, and EBIT-adjusted of $(0.5) billion
  • Revenue of $16.8 billion
  • Automotive liquidity of $30.6 billion
  • Automotive operating cash flow of $(8.0) billion, and adjusted automotive free cash flow of $(9.0) billion
  • GM North America EBIT-adjusted near breakeven at $(0.1) billion
  • GM Financial EBT-adjusted of $0.2 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.

Investor analyst conference call

GM Chairman and CEO Mary Barra and Chief Financial Officer Dhivya Suryadevara will host a conference call for investor analysts at 10 a.m. EDT today to discuss second-quarter results. Introductory remarks will be 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

International:

+1-949-484-0645

Name of Call:

GM Earnings Call

General Motors (NYSE:GM) is committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the  Chevrolet, BuickGMC, CadillacHolden, Baojun, and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at http://www.gm.com.

Cautionary Note on Forward-Looking Statements: This press release contains forward-looking statements that represent our current judgment about possible future events. In making these statements we rely on assumptions and analysis based on our experience and perception of historical trends, current conditions and expected future developments as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors, both positive and negative. A list and description of these factors can be found in our Annual Report on Form 10-K and our subsequent filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. We undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

 

Cision View original content:http://www.prnewswire.com/news-releases/gm-second-quarter-results-show-business-resiliency-301101961.html

SOURCE General Motors Co.