Detroit Bureau on Twitter

Posts Tagged ‘GM earnings results’

Pickups, SUVs Push GM Profit Well Above Expectations

Automaker betting numbers will look even better as truck production ramps up in 2019.

by Paul A. Eisenstein on Feb.06, 2019

GM reported stronger than expected earnings as Chairman and CEO Mary Barra continues to reshape the company.

General Motors handily beat Wall Street’s earnings forecast for the fourth quarter and full year a strong performance that reflects both booming truck demand and the payoff of shedding the company’s long-struggling European operations.

For the final quarter of 2018, GM delivered earnings of $1.43 a share — $1.40 after excluding special items. The consensus, according to Zacks Investment Research, was $1.24. For the full year, earnings came to $6.54 a share, well ahead of the consensus forecast of $6.29. After special charges, the figure dropped to $5.58 per share.

News Now!

GM’s overall $8.1 billion profit for all of 2018 was more than double the $3.9 billion number from the year before, but the 2017 figure reflected a significant hit from the sell-off of the company’s long-troubled European Opel-Vauxhall subsidiary. It was acquired by PSA Group, parent of the Peugeot and Citroen brands. (more…)

GM Expects Bigger Profits, More Transformation in 2019

Company wants to make workforce changes during strong labor market.

by Joseph Szczesny on Jan.11, 2019

GM CEO Mary Barra is leading the transformation of the company's manufacturing footprint.

General Motors Co. expects earnings to grow in 2019 as it restructures, picks up the pace of moving towards what Chairman Mary Barra described as an “all-electric” future, and maintains its market share in China.

“We will continue to strengthen our core business and invest in the technologies that will transform the future of mobility. Managing both well is critical to position General Motors for success for generations to come,” Barra said, adding that it was better to tackle this restructuring during a strong labor market.

News Now!

“We are committed to driving significant shareholder value over the long term as we drive the transformation,” she added. (more…)