Market Overview

GM Delivers Income of $4.0 Billion and EBIT-adj. of $5.3 Billion

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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, BuickGMC, CadillacHolden, 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 as "anticipate," "appears," "approximately," "believe," "continue," "could," "designed," "effect," "estimate," "evaluate," "expect," "forecast," "goal," "initiative," "intend," "may," "objective," "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.

 

Cision View original content:http://www.prnewswire.com/news-releases/gm-delivers-income-of-4-0-billion-and-ebit-adj-of-5-3-billion-301167052.html

SOURCE General Motors Co.

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