DETROIT, Nov. 5, 2020 /PRNewswire/ -- General Motors
Co. (NYSE: GM) today reported third-quarter earnings driven by its
agility, and strong and growing franchises. Despite the COVID-19
pandemic, the company continued to invest in its electric vehicle
and autonomous vehicle growth initiatives, launched an all-new
portfolio of full-size Chevrolet, GMC and Cadillac sport utility
vehicles, and maintained leading U.S. full-size pickup truck and
large SUV market share.
Third-quarter 2020 results:
- EPS-diluted of $2.78, and
EPS-diluted-adjusted of $2.83
-
- EPS-diluted-adjusted includes a $0.05 gain from Groupe PSA revaluations
- Income of $4.0 billion, and
EBIT-adjusted of $5.3 billion
- EBIT-adjusted margin of 14.9 percent
- Revenue of $35.5 billion
- Automotive liquidity of $37.8 billion
- Automotive operating cash flow of $9.9 billion, and adjusted automotive free
cash flow of $9.1 billion
- GM North America EBIT-adjusted of $4.4 billion
- GM Financial EBT-adjusted of $1.2 billion
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.
Conference call for investors and analysts
GM Chairman
and CEO Mary Barra and interim Chief
Financial Officer John Stapleton
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.
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
|
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 Chevrolet, Buick, GMC,
Cadillac, Holden, Baojun, and Wuling brands. More
information on the company and its subsidiaries,
including OnStar, a global leader in vehicle safety and
security services, can be found at http://www.gm.com.
Cautionary Note on Forward-Looking Statements: This
press release may include "forward-looking statements" within the
meaning of the U.S. federal securities laws. Forward-looking
statements are any statements other than statements of historical
fact. Forward-looking statements represent our current judgement
about possible future events and are often identified by words such
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"could," "designed," "effect," "estimate," "evaluate," "expect,"
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"outlook," "plan," "potential," "priorities," "project," "pursue,"
"seek," "should," "target," "when," "will," "would," or the
negative of any of those words or similar expressions. 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. We believe
these judgements are reasonable, but these statements are not
guarantees of any future events or financial results, and our
actual results may differ materially due to a variety of factors,
many of which are beyond our control. Many of these factors are
described in our Annual Report on Form 10-K and our other filings
with the U.S. Securities and Exchange Commission. We caution
readers not to place undue reliance on forward-looking statements.
Forward-looking statements speak only as of the date on which they
are made, and 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.
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SOURCE General Motors Co.