GM 3Q 2019 Financials

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Thread: GM 3Q 2019 Financials

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    GM 3Q 2019 Financials

    Here's GM's 3Q presser:

    https://media.gm.com/content/dam/Med...lease-1029.pdf

    Income is down -8.7% at 2.3B, revenues down less than 1% to 35.5B.
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    Re: GM 3Q 2019 Financials

    https://www.autonews.com/manufacturi...arly-3-billion

    The strike cost $3 billion in total. $1 billion of that is from the 3rd quarter.

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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by BahamaTodd View Post
    https://www.autonews.com/manufacturi...arly-3-billion

    The strike cost $3 billion in total. $1 billion of that was in the 3rd quarter.
    Fixed........... but yeah.

    They also said they were going to adjust the cost savings, because Hamtramck is not closing as well as other give-backs.

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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by Ed753 View Post
    Fixed........... but yeah.

    They also said they were going to adjust the cost savings, because Hamtramck is not closing as well as other give-backs.

    Good morning to own GM stock! I picked some up yesturday, shoulda-bought more!............. 38.40 USD +1.76 (4.80%)
    I had a feeling the strike was just a bit of noise overshadowing what is otherwise a money gouging machine.
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    Overall not too bad, next quarter will probably reflect the strike a little more.

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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by jzchev28 View Post
    Overall not too bad, next quarter will probably reflect the strike a little more.
    They're still not gonna lose money, which is a pretty impressive feat.
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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by Ed753 View Post
    I had a feeling the strike was just a bit of noise overshadowing what is otherwise a money gouging machine.
    Off topic, but gouging made me think of Apple. Their Q3 earnings were $53.8B revenue with $10B profit, so almost 20 cents of every dollar is pure profit. That is amazing!

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    Re: GM 3Q 2019 Financials

    Nice results.

    I've been a longtime GM fan. But quite honestly, I've never been less excited by their products. I walked a Chevy lot a couple of weeks ago and found the whole experience kind of depressing. My first time seeing a Blazer, which I thought looked good in pics but which I found really ugly in person. A bunch of nice but fairly boring SUVs and CUVs. And, much as I hate to admit this, over the last couple of months I've actually found myself now thinking the Mustang is a better looking car than the Camaro, something that has rarely been true for me. The Camaro has elements that are just odd. The thing that bugs me now is the rear passenger window treatment. In some ways, it's just a weird looking car. Having the C8 on the lot will be cool. I know I'll like the C8, but I think I prefer the front-engine proportions of the C7 (which may someday find its way into my garage).

    I almost find myself surprised at the good results. I typically focus on cars, which I suppose distorts my view of the overall health of the company. I guess the trucks and SUV/CUVs still sell well enough to make up for the tumbling car sales.
    Last edited by ksr; 10-29-2019 at 11:16 AM.
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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by BlackGTP View Post
    Off topic, but gouging made me think of Apple. Their Q3 earnings were $53.8B revenue with $10B profit, so almost 20 cents of every dollar is pure profit. That is amazing!

    Apple is a money machine.

    Reminds me of how the Democrats demonize the oil industry and their "obscene" profits. Oil margins can't touch Apple. And the oil companies employ a heck of a lot more Americans.
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    Re: GM 3Q 2019 Financials

    China made +$0.3B “equity income”, that’s profit right??

    Overall, International loss was -$0.1B.

    Here’s the breakdown of unit sales:

    https://investor.gm.com/static-files...2-b62ad1287850
    Last edited by dannyg; 10-29-2019 at 11:41 AM.

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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by dannyg View Post
    China made +$0.3B “equity income”, that’s profit right??

    Overall, International loss was -$0.1B.

    Here’s the breakdown of unit sales:

    https://investor.gm.com/static-files...2-b62ad1287850
    Correct, equity income is the profit.

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    But equity income normally comes from stocks, is this just the term used because of the JV with the Chinese?

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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by jpd80 View Post
    But equity income normally comes from stocks, is this just the term used because of the JV with the Chinese?
    Yes, this is how the income is recorded when you don't have a controlling interest in a company. A little funky, but gets the job done.

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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by BlackGTP View Post
    Off topic, but gouging made me think of Apple. Their Q3 earnings were $53.8B revenue with $10B profit, so almost 20 cents of every dollar is pure profit. That is amazing!
    But we can't equate Apple's market strength, and product uniqueness to GM's, so why are we bringing this up?


    Quote Originally Posted by dannyg View Post
    China made +$0.3B “equity income”, that’s profit right??

    Overall, International loss was -$0.1B.

    Here’s the breakdown of unit sales:

    https://investor.gm.com/static-files...2-b62ad1287850
    Gee, let's pop the corks! This time its only 90% less profit for China!

    And Ex-North America; GM lost money, without Europe dragging them down!? WOW, just WOW...............
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    Re: GM 3Q 2019 Financials

    Quote Originally Posted by BahamaTodd View Post
    https://www.autonews.com/manufacturi...arly-3-billion

    The strike cost $3 billion in total. $1 billion of that is from the 3rd quarter.
    Labor produces wealth, no labor = no wealth

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