16 Rabi' I 1443 - 22 October 2021
    
  • Twitter Facebook Instagram Icon Linkedin Youtube Snapchat Alexa Icon
Sign up for newsletter
Eye of Riyadh
Eye of Riyadh
Cars & Autos | Thursday 5 August, 2021 12:19 am |
Share:

GM Reports Strong Second-Quarter 2021 Results

 General Motors Co. (NYSE: GM) today reported strong second-quarter earnings while continuing to accelerate its EV and AV growth initiatives. The company successfully prioritized production of its highest demand vehicles, gained significant retail market share in the full-size pickup segment in the United States and benefited from strong pricing and mix. Additionally, high used vehicle prices due to low new vehicle inventories drove continued record results at GM Financial. Given the company’s first-half performance and its expectations for the rest of the year, GM is raising its full-year guidance.

Second-quarter 2021 results overview

Revenue of $34.2 billion

Net income of $2.8 billion, and EBIT-adjusted of $4.1 billion, including warranty recall costs of $(1.3) billion, of which $(0.8) billion was related to the Chevrolet Bolt EV

Net income margin of 8.3 percent, and EBIT-adjusted margin of 12.0 percent

Automotive operating cash flow of $4.0 billion and adjusted automotive free cash flow of $2.5 billion

EPS-diluted of $1.90, and EPS-diluted-adjusted of $1.97*

GM North America EBIT-adjusted of $2.9 billion, and EBIT-adjusted margin of 10.4 percent

GM International EBIT-adjusted of $0.0 billion, including China Equity Income of $0.3 billion

GM Financial EBT-adjusted of $1.6 billion

Second-quarter 2020 results overview

Revenue of $16.8 billion

Net income (loss) of $(0.8) billion, and EBIT (loss)-adjusted of $(0.5) billion

Net income (loss) margin of (4.5) percent, and EBIT (loss)-adjusted margin of (3.2) percent

Automotive operating cash flow of $(8.0) billion, and adjusted automotive free cash flow of $(9.0) billion

EPS-diluted of $(0.56), and EPS-diluted-adjusted of $(0.50)**

GM North America EBIT (loss)-adjusted of $(0.1) billion, and EBIT (loss)-adjusted margin of

(0.9) percent

GM International EBIT (loss)-adjusted of $(0.3) billion, including China Equity Income of $0.2 billion

GM Financial EBT-adjusted of $0.2 billion

2021 guidance

Full-year EPS-diluted of between $5.12 and $6.12, and EPS-diluted-adjusted of between $5.40 and $6.40

Full-year net income of between $7.7 billion and $9.2 billion, and EBIT-adjusted of between $11.5 billion and $13.5 billion

See below for reconciliations of non-GAAP measures to their most directly comparable GAAP measures or visit the GM Investor Relations website for complete details.

 

Conference call for investors and analysts

 

Mary Barra and Chief Financial Officer Paul Jacobson will host a conference call for investors and analysts at 10 a.m. ET today to discuss these results and the company’s growth strategy. Introductory remarks will be followed by a question-and-answer session.

Those who wish to listen to the call may dial in using the following numbers:

United States: 1-888-808-8618

International: +1-949-484-0645

Name of call: GM Earnings Call

 

*EPS-diluted and EPS-diluted-adjusted include a $0.12 impact from mark-to-market gains on equity method investments.

**EPS-diluted and EPS-diluted-adjusted includes a $0.08 impact from mark-to-market gains on equity method investments.

 

General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global le

Share:
Print
Post Your Comment
ADD TO EYE OF Riyadh
RELATED NEWS
MOST POPULAR
King Salman promotes, appoints 30 Judges
King Salman promotes, appoints 30 Judges
Wednesday 20 October, 2021 10:14