GM Reports Income of $2.3B and EBIT-Adj. of $3.0B
Tue, October 29, 2019
DETROIT — General Motors Co. (NYSE: GM) today reported solid third-quarter earnings, driven by the performance of North America and significant progress on transformational cost initiatives, partially offset by the impact of the work stoppage in the U.S.
Third-quarter 2019 results:
- EPS-diluted of $1.60 and EPS-diluted-adjusted of $1.72, reduced by $(0.52) from UAW strike impact, and $(0.15) from Lyft and PSA revaluations.
- Income of $2.3 billion, and revenue of $35.5 billion.
- GM North America EBIT-adjusted of $3.0 billion.
- Net strike impact to GMNA EBIT-adj. was $(1.0) billion, including $0.3 billion of favorable timing items.
- North America EBIT-adj. margin of 10.8 percent driven by full-size trucks and record crossover sales.
- GM Financial EBT-adjusted of $0.7 billion.
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. ET today to discuss third-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
Name of Call: GM Earnings Call
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