GM Reports Record Third-Quarter Net Income of $2.8 Billion, Up 104 Percent

DETROIT, Oct. 25, 2016 /PRNewswire/ -- General Motors Co. GM today announced record third-quarter earnings and revenue driven by robust retail sales in the United States, strong performance in China, growth in wholesale volume and effective cost performance.

Records:

• Net revenue of $42.8 billion, up 10.3 percent
• ROIC-adjusted of 30.6 percent, up 4.6 points

Third-quarter records:

• Net Income of $2.8 billion, up 104 percent
• EBIT-adjusted of $3.5 billion, up 14.4 percent
• EBIT-adjusted margin of 8.3 percent
• EPS diluted of $1.76, up 110 percent
• EPS diluted-adjusted of $1.72, up 14.7 percent
• North America EBIT-adjusted of $3.5 billion
• Adjusted automotive free-cash-flow of $3.5 billion, up $2.7 billion

For complete details and to see reconciliations of non-GAAP 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 Executive Vice President and CFO Chuck Stevens, will host a conference call for investor analysts today at 10 a.m. EDT 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 can dial in using the following numbers:

(Note: All comparisons are year-over-year versus Q3 2015)

General Motors Co. GMGMM and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.

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SOURCE General Motors