General Motors (GM) reported first-quarter 2024 adjusted earnings of $2.62 per share, which surpassed the Zacks Consensus Estimate of $2.08. The bottom line also increased from the year-ago quarter’s level of $2.21. Solid results from the GMNA segment led to the outperformance. Revenues of $43.01 billion beat the Zacks Consensus Estimate of $41.28 billion and increased from $39.9 billion recorded in the year-ago period.The U.S. auto giant recorded adjusted earnings before interest and taxes (EBIT) of $3.87 ...

General Motors Company (NYSE:GM) Q1 2024 Earnings Conference Call April 23, 2024 8:30 AM ET Company Participants Ashish Kohli - Vice President of Investor Relations Mary Barra - Chair and Chief Executive Officer Paul Jacobson - Executive Vice President and Chief Financial Officer Conference Call Participants Joseph Spak - UBS Itay Michaeli - Citi John Murphy - Bank of America Mark Delaney - Goldman Sachs Daniel Ives - Wedbush Securities James Picariello - BNP Paribas Alexander Potter - Piper Sandler Bruno D ...

Key TakeawaysGeneral Motors exceeded first-quarter profit and revenue estimates as its net income from North American operations jumped.CEO Mary Barra noted the North American unit's pricing has been steady and sales incentives were much lower than the industry average.The biggest U.S. automaker also raised its full-year earnings guidance. General Motors (GM) shares surged in intraday trading Tuesday after the biggest U.S. automaker posted better-than-expected quarterly results and raised its guidance on po ...

As Q1 earnings season rolls along, market outlooks seem sunnier. For one thing, we’re not seeing many bleak, bad misses from companies yet reported; if anything, we’ve been pleasantly surprised by results from big Wall Street banks, major manufacturers, etc. We’re just starting to see companies in Tech reporting for calendar Q1, but even there we are “so far, so good.” The Dow is +110 points at this hour, the S&P 500 is +20 and the Nasdaq +75 points. This follows a solid day in the green across the board.Ec ...

GM Deals More Pickups, Sending Its Stock Higher Bill Pugliano / Getty Images News via Getty Images General Motors (NYSE: GM) is making a splash in the markets today after reporting better-than-expected first quarter earnings. GM, which beat on both the top and bottom lines, is being rewarded with a nearly 5% gain on the day, thrusting the stock to above $45 and within inches of its 52-week high.  GM experienced several pockets of strength last quarter. The automaker saw rising U.S. demand for its popular ...

For the quarter ended March 2024, General Motors Company (GM) reported revenue of $43.01 billion, up 7.6% over the same period last year. EPS came in at $2.62, compared to $2.21 in the year-ago quarter.The reported revenue represents a surprise of +4.18% over the Zacks Consensus Estimate of $41.29 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +25.96%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to deter ...

General Motors Company (GM) came out with quarterly earnings of $2.62 per share, beating the Zacks Consensus Estimate of $2.08 per share. This compares to earnings of $2.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 25.96%. A quarter ago, it was expected that this company would post earnings of $1.12 per share when it actually produced earnings of $1.24, delivering a surprise of 10.71%.Over the last four quarters, the com ...

Revenue and Net Income - Q1 2024 revenue reached $43.0 billion, a 7.6% increase year-over-year[4] - Net income attributable to stockholders was $3.0 billion, up 24.4% from Q1 2023[4] - Net income attributable to common stockholders increased to $2.97 billion in Q1 2024, up from $2.37 billion in Q1 2023, representing a 25.3% year-over-year growth[18] - General Motors' net income for the three months ended March 31, 2024, was $2.804 billion, compared to $2.221 billion in the same period in 2023[24] - Net sales and revenue for Q1 2024 totaled $43.014 billion, with GM North America (GMNA) contributing $36.099 billion and GM International (GMI) contributing $3.082 billion[30] EBIT and Adjusted EBIT - EBIT-adjusted for Q1 2024 was $3.9 billion, a 1.8% increase year-over-year[4] - GMNA EBIT-adjusted for Q1 2024 was $3.8 billion, a 7.4% increase year-over-year[4] - EBIT-adjusted for Q1 2024 was $3.871 billion, with GM North America contributing $3.840 billion and GM Financial contributing $737 million[41] - EBIT-adjusted for Q1 2024 was $12.4 billion, down from $14.2 billion in Q1 2023[48] Cash Flow and Liquidity - Automotive operating cash flow for Q1 2024 was $3.6 billion, a 61.2% increase year-over-year[4] - Adjusted automotive free cash flow for Q1 2024 was $1.1 billion, compared to a loss of $132 million in Q1 2023[4] - Net cash provided by operating activities in Q1 2024 was $3.598 billion, a significant increase from $2.232 billion in Q1 2023[24] - GM's cash, cash equivalents, and restricted cash at the end of Q1 2024 were $21.378 billion, slightly down from $21.141 billion at the end of Q1 2023[27] - GM's adjusted automotive free cash flow is used to measure liquidity and performance against capital allocation programs[38] - Adjusted automotive free cash flow for Q1 2024 was $1.09 billion, compared to a negative $132 million in Q1 2023[49] - Net automotive cash provided by operating activities increased to $3.598 billion in Q1 2024 from $2.232 billion in Q1 2023[49] Guidance Updates - Updated 2024 guidance for net income attributable to stockholders is $10.1 billion - $11.5 billion, up from previous guidance of $9.8 billion - $11.2 billion[2] - 2024 EBIT-adjusted guidance raised to $12.5 billion - $14.5 billion from $12.0 billion - $14.0 billion[2] - 2024 capital spending is anticipated to be $10.5 billion - $11.5 billion, including investments in battery cell manufacturing joint ventures[2] Financial Position and Assets - Total current assets increased to $106.47 billion as of March 31, 2024, up from $101.62 billion as of December 31, 2023[21] - GM Financial receivables, net, grew to $41.68 billion as of March 31, 2024, compared to $39.08 billion as of December 31, 2023[21] - Total liabilities increased to $205.99 billion as of March 31, 2024, up from $204.76 billion as of December 31, 2023[21] - Total stockholders' equity rose to $66.60 billion as of March 31, 2024, compared to $64.29 billion as of December 31, 2023[21] - Cash and cash equivalents decreased to $17.64 billion as of March 31, 2024, down from $18.85 billion as of December 31, 2023[21] - Inventories increased to $17.53 billion as of March 31, 2024, up from $16.46 billion as of December 31, 2023[21] - Total non-current assets grew to $170.12 billion as of March 31, 2024, compared to $171.45 billion as of December 31, 2023[21] Earnings Per Share and Tax - Basic earnings per common share rose to $2.57 in Q1 2024, compared to $1.70 in Q1 2023, a 51.2% increase[18] - Diluted earnings per share (EPS) for Q1 2024 was $2.56, with EPS-diluted-adjusted at $2.62[44] - The effective tax rate (ETR) for Q1 2024 was 20.5%, with ETR-adjusted at 20.6%[45] - GM's provision for deferred taxes in Q1 2024 was $781 million, up from $408 million in Q1 2023[24] Equity and Investments - China equity income for Q1 2024 was a loss of $106 million, compared to income of $83 million in Q1 2023[4] - Equity income from Ultium Cells Holdings LLC, a joint venture with LG Energy Solution, was $156 million in Q1 2024, compared to an insignificant amount in Q1 2023[30] - GM Financial contributed $535 million to the net income in Q1 2024, up from $551 million in Q1 2023[24] Debt and Dividends - The net increase in short-term debt in Q1 2024 was a decrease of $249 million, compared to a decrease of $167 million in Q1 2023[26] - Dividends paid by GM Financial to Automotive in Q1 2024 were $509 million, the same as in Q1 2023[25] Market Share and Sales - GM's wholesale vehicle sales outside the U.S. accounted for 26.0% of total wholesale sales in Q1 2024[51] - Total wholesale vehicle sales increased to 895,000 units in Q1 2024, up from 864,000 units in Q1 2023[52] - GM's market share in China decreased to 7.9% in Q1 2024 from 9.1% in Q1 2023[54] - GM's total vehicle sales in the U.S. market share decreased to 15.4% in Q1 2024 from 16.4% in Q1 2023[54] - Fleet sales as a percentage of total vehicle sales decreased to 15.5% in Q1 2024 from 19.3% in Q1 2023[55] Operational Metrics - North America two-shift capacity utilization improved to 109.7% in Q1 2024 from 96.0% in Q1 2023[55] - ROIC-adjusted decreased to 16.7% in Q1 2024 from 19.3% in Q1 2023[48] - Return on equity (ROE) for the trailing four quarters ended March 31, 2024 was 15.1%, up from 13.7% in the same period in 2023[46] Expenditures and Depreciation - Expenditures for property in Q1 2024 totaled $2.728 billion, compared to $2.408 billion in Q1 2023[24] - Expenditures for property in Q1 2024 totaled $2.783 billion, with GMNA accounting for $2.631 billion[30] - Depreciation and amortization expenses in Q1 2024 were $2.798 billion, with GMNA accounting for $1.409 billion[30] Other Financial Metrics - The company's pension and OPEB income, net, was $14 million in Q1 2024, compared to a loss of $20 million in Q1 2023[24] - The effect of exchange rate changes on cash, cash equivalents, and restricted cash in Q1 2024 was a decrease of $78 million, compared to an increase of $54 million in Q1 2023[25] - GM Financial reported revenue of $3.811 billion in Q1 2024, up from $3.343 billion in Q1 2023[30]

Follow Invezz on Telegram , Twitter , and Google News for instant updates >General Motors Co. (NYSE: GM) on April 23rd reported better-than-expected financial results, with a rise in both revenue and EPS from the previous quarter.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.The company reported net income attributable to stockholders of almost $3.0 billion ($2.98 billion), up almost 25% from Q 2023. General Motors also reported first-quarter 2024 ...

GM is outperforming rivals like Tesla, but will that continue?General Motors (GM 2.56%) reports earnings before the market opens on Tuesday and there could be a big reaction from investors. In this video, Travis Hoium covers what to watch in the numbers and where he expects analyst questions to give indications about where the company is going long-term.*Stock prices used were end-of-day prices of April 22, 2024. The video was published on April 22, 2024. ...