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GM Beats Expectations

February 6, 2018

General Motors reported full-year 2017 EBIT-adjusted of $12.8 billion, repeating record 2016 performance. Results were driven by strong performance in North America, improvement in GM International led by strong equity income in China and a return to profitability in South America, sustained growth of GM Financial and an intense focus on costs.

GM delivered a Q4 loss of $4.9 billion or $3.46 per share, relative to a profit of $2.1 billion or $1.36 per share last year. Not counting certain items, GM noted earnings per share of $1.65. Investors were only looking for earnings per share of $1.38.

Revenue for Q4 went down to $37.7 billion from $39.9 billion a year earlier. But, Wall Street only expected $36.6 billion in revenue.

Mary Barra, GM Chairman and CEO said, “The actions we took to further strengthen our core business and advance our vision for personal mobility made 2017 a transformative year. We will continue executing our plan and reshaping our company to position it for long-term success.”

Full-year 2017 records:

◾EPS diluted-adjusted of $6.62

◾EBIT-adjusted margin of 8.8 percent

◾North America EBIT-adjusted margin of 10.7 percent, the third straight year above 10 percent

◾GM Financial EBT-adjusted of $1.2 billion, up 50 percent and revenues of $12.2 billion, up $3.2 billion

Fourth-quarter 2017 records:

◾EBIT-adjusted of $3.1 billion, up 18.7 percent

◾EPS diluted-adjusted of $1.65, up 21.3 percent

◾North America EBIT-adjusted of $2.9 billion, up from $2.7 billion

◾GM Financial EBT-adjusted of $0.3 billion, up $0.1 billion and revenues of $3.3 billion, up $0.7 billion

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