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General Motors (NYSE: GM) today reported third-quarter 2024 revenue of $48.8 billion, net income attributable to stockholders of $3.1 billion, and EBIT-adjusted of $4.1 billion.
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| GM is also updating its 2024 full-year earnings guidance for the third consecutive quarter: |
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Updated 2024 Guidance |
Previous 2024 Guidance |
| Net income attributable to stockholders |
$10.4 billion - $11.1 billion |
$10.0 billion - $11.4 billion |
| EBIT-adjusted |
$14.0 billion - $15.0 billion |
$13.0 billion - $15.0 billion |
| Automotive operating cash flow |
$22.0 billion - $24.0 billion |
$19.2 billion - $22.2 billion |
| Adjusted automotive free cash flow |
$12.5 billion - $13.5 billion |
$9.5 billion - $11.5 billion |
| EPS-diluted |
$9.14 - $9.64 |
$8.93 - $9.93 |
| EPS-diluted-adjusted |
$10.00 - $10.50 |
$9.50 - $10.50 |
GM's 2024 financial guidance includes anticipated capital spending of $10.5 billion - $11.5 billion, inclusive of investments in the company's battery cell manufacturing joint ventures. |
| Results Overview |
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Three Months Ended |
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| ($M) except per share amounts |
September 30,
2024 |
September 30,
2023 |
Change |
% Change |
| Revenue |
$ 48,757 |
$ 44,131 |
$ 4,626 |
10.5 % |
| Net income attributable to stockholders |
$ 3,056 |
$ 3,064 |
$ (8) |
(0.3) % |
| EBIT-adjusted |
$ 4,115 |
$ 3,564 |
$ 551 |
15.5 % |
| Net income margin |
6.3 % |
6.9 % |
(0.6) ppts |
(8.7) % |
| EBIT-adjusted margin |
8.4 % |
8.1 % |
0.3 ppts |
3.7 % |
| Automotive operating cash flow |
$ 7,863 |
$ 6,794 |
$ 1,069 |
15.7 % |
| Adjusted automotive free cash flow |
$ 5,834 |
$ 4,910 |
$ 924 |
18.8 % |
| EPS-diluted(a) |
$ 2.68 |
$ 2.20 |
$ 0.48 |
21.8 % |
| EPS-diluted-adjusted(a) |
$ 2.96 |
$ 2.28 |
$ 0.68 |
29.8 % |
| GMNA EBIT-adjusted |
$ 3,982 |
$ 3,526 |
$ 456 |
12.9 % |
| GMNA EBIT-adjusted margin |
9.7 % |
9.8 % |
(0.1) ppts |
(1.0) % |
| GMI EBIT-adjusted |
$ 42 |
$ 357 |
$ (315) |
(88.2) % |
| China equity income (loss) |
$ (137) |
$ 192 |
$ (329) |
n.m. |
| GM Financial EBT-adjusted |
$ 687 |
$ 741 |
$ (54) |
(7.3) % |
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| (a) EPS-diluted and EPS-diluted-adjusted include a $(0.02) and $(0.05) impact from revaluation on equity investments in the three months ended September 30, 2024 and 2023. |
| (b)n.m. = not meaningful |
| General Motors (NYSE: GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower-emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com. |
| For the full document click the link below: |
| General Motors Company |
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