Wed, February 5, 2020
DETROIT— General Motors Co. (NYSE: GM) today reported solid 2019 full-year earnings that were heavily impacted by a work stoppage in the third and fourth quarters. However, underlying performance remained strong, driven by sales of GM’s all-new full-size pickups and the company’s ongoing cost actions.
Full-year 2019 results:
- EPS-diluted of $4.57 and EPS-diluted-adjusted of $4.82<
- EPS diluted-adjusted includes $(1.89) impact from the strike, and a $0.12 benefit from Lyft and PSA revaluations
- Full-year income of $6.7 billion and EBIT-adjusted of $8.4 billion, which includes a $(3.6) billion impact from the strike
- Full year EBIT-adjusted margin of 6.1 percent
- GM North America EBIT-adjusted of $8.2 billion, and EBIT-adj. margin of 7.7 percent
- GM Financial reported record EBT-adjusted of $2.1 billion
Fourth-quarter 2019 results:
- EPS-diluted of $(0.16) and EPS-diluted-adjusted of $0.05
- EPS-diluted-adjusted includes a $(1.39) impact from the strike and $(0.02) impact from Lyft and PSA revaluations
- Revenue of $30.8 billion
- GM North America EBIT-adjusted of $0.3 billion
- Record GM Financial EBT-adjusted of $0.5 billion
Click here to download the full press release to see GM’s 2020 outlook and reconciliations of non-GAAP and GAAP measures, or visit the GM Investor Relations website.
Capital Markets Day Investor Event
GM will host a webcast for investors today from 10 a.m. to 2 p.m. EST. Leadership will share various strategic updates, as well as 2019 fourth quarter and calendar year business results and 2020 guidance.
The format of the webcast will include presentations by leadership followed by a question-and-answer session. To join the live video webcast click here.
For audio only, the call-in numbers are:
Call-in (U.S.): 888-808-8618
Call-in (international/caller-paid): +1-949-484-0645
Conference ID: 9952078
Conference Call Name: General Motors Capital Markets Day
Please phone in at least 15 minutes, but no sooner than 30 minutes, in advance to ensure you are connected to the 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 Cadillac, Chevrolet, Baojun, Buick, GMC, Holden, and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, Maven, its personal mobility brand, and Cruise, its autonomous vehicle company, can be found at http://www.gm.com.
GM Finance Communications
GM Investor Relations
Cautionary Note on Forward-Looking Statements: This press release may include “forward-looking statements” within the meaning of the U.S. federal securities law. We caution readers not to place undue reliance on forward-looking statements. Statements including words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions to identify forward-looking statements represent our current judgment about possible future events. In making these statements we rely upon 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. These statements are not guarantees of future performance; they involve risks and uncertainties and actual events or results may differ materially from these statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond our control. Many of these factors are described our Annual Report on Form 10-Kand our other filings with the U.S. Securities and Exchange Commission. 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.
Basis of Presentation: The financial and operational information included in this press release relate to our continuing operations and not our discontinued operations, which consist of the Opel and Vauxhall businesses and certain other assets in Europe and the European financing subsidiaries and branches that were sold in 2017.