DETROIT, Oct. 31, 2018 /PRNewswire/ -- General Motors
Co. (NYSE: GM) today announced third-quarter 2018 earnings results
reflecting profitability in all core operating segments. Strong
results in North America were
driven by all-new full-size trucks, and crossovers. GM China equity income and GM Financial EBT were
third-quarter records.
Third-quarter 2018 results:
- Strong EPS-diluted of $1.75 and
record third-quarter EPS diluted-adjusted of $1.87
- Revenue of $35.8 billion, up 6.4%
from third-quarter 2017
- GM North America EBIT-adjusted of $2.8
billion and margin of 10.2 percent
- Record third-quarter equity income in China of $0.5
billion
- GM Financial EBT of $0.5 billion,
a third-quarter record
For complete details and to see reconciliations of non-GAAP
measures to their most directly comparable GAAP measures, click
here to download the full press release, or visit the GM Investor
Relations website.
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 9 a.m. EDT today to
discuss third-quarter business results. The call will include
introductory remarks 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
International: +1-949-484-0645
Name of Call: GM Earnings 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, Jiefang 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 ride-sharing company, can be found
at http://www.gm.com.
Forward-Looking Statements
This presentation and
related comments by management may include forward-looking
statements. These statements are based on current expectations
about possible future events and thus are inherently uncertain. Our
actual results may differ materially from forward-looking
statements due to a variety of factors, including: (1) our ability
to deliver new products, services and experiences that attract new,
and are desired by existing, customers and to effectively compete
in autonomous, ride-sharing and transportation as a service; (2)
sales of crossovers, SUVs and full-size pickup trucks; (3) our
ability to reduce the costs associated with the manufacture and
sale of electric vehicles; (4) the volatility of global sales and
operations; (5) our significant business in China which subjects us to unique operational,
competitive and regulatory risks; (6) our joint ventures, which we
cannot operate solely for our benefit and over which we may have
limited control; (7) changes in government leadership and laws
(including tax laws and regulations), economic tensions between
governments and changes in international trade policies, new
barriers to entry and changes to or withdrawals from free trade
agreements, changes in foreign exchange rates, economic downturns
in foreign countries, differing local product preferences and
product requirements, compliance with U.S. and foreign countries'
export controls and economic sanctions, differing labor laws and
regulations and difficulties in obtaining financing in foreign
countries; (8) our dependence on our manufacturing facilities; (9)
the ability of suppliers to deliver parts, systems and components
without disruption and on schedule; (10) prices of raw materials;
(11) our highly competitive industry; (12) the possibility that
competitors may independently develop products and services similar
to ours despite our intellectual property rights; (13) security
breaches and other disruptions to our vehicles, information
technology networks and systems; (14) compliance with laws and
regulations applicable to our industry, including those regarding
fuel economy and emissions; (15) costs and risks associated with
litigation and government investigations; (16) compliance with the
terms of the Deferred Prosecution Agreement; (17) the cost and
effect on our reputation of product safety recalls and alleged
defects in products and services; (18) our ability to successfully
and cost-efficiently restructure operations in various countries,
including Korea, with minimal disruption to our supply chain and
operations, globally; (19) our ability to realize production
efficiencies and to achieve reductions in costs; (20) our ability
to develop captive financing capability through GM Financial; and
(21) significant increases in pension expense or projected pension
contributions. A further list and description of these risks,
uncertainties and other factors can be found in our Annual Report
on Form 10-K for the fiscal year ended December 31, 2017, and our subsequent filings
with the U.S. Securities and Exchange Commission. GM cautions
readers not to place undue reliance on forward-looking statements.
GM undertakes no obligation to update publicly or otherwise revise
any forward-looking statements.
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SOURCE General Motors