GM Financials Show Company on Path to become Most Profitable Automaker

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Thread: GM Financials Show Company on Path to become Most Profitable Automaker

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    GM Financials Show Company on Path to become Most Profitable Automaker


    Business Wire

    General Motors shares are up 2.6% Thursday after second-quarter earnings topped analyst estimates, as sales of more profitable pickup trucks and crossovers offset weaker sales in China.
    Here’s what GM reported against average analysts’ estimates compiled by Refinitiv:
    Adjusted EPS: $1.64 vs. $1.44, estimated
    Revenues: $36.1 billion vs. $35.98 billion, estimated

    “We had a solid second quarter and expect the second half of the year to be stronger than the first half. Our confidence in our full-year outlook is based on our strong full-size truck rollout, other key launches and ongoing cost savings,” said CFO Dhivya Suryadevara.
    GM reported second-quarter net income of $2.41 billion, or $1.66 per share, compared with $2.39 billion, or $1.66 per share, a year earlier. Excluding one-time items, GM earned $1.64 per share, solidly outpacing analyst estimates of $1.44 per share.
    Net revenue fell 1.9% to $36.1 billion from $36.8 billion.
    In North America, the company’s adjusted earnings before interest and taxes rose to $3 billion from $2.7 billion a year ago.
    The company delivered 747,000 vehicles in the U.S. Crossover sales rose 17% year over year and a second-quarter record. Models like the Chevrolet Equinox and Traverse both set records while sales of every Buick crossover was up year-over-year. The GMC Acadia also had its best first half in sales ever.

    In the U.S., GMC saw sales rise almost 11% to 153,000 from 138,000 a year ago.
    Light-duty pickup trucks also saw their market share grow with stalwarts like the Chevy Silverado and GMC Sierra also posting double-digit gains year-over-year for the second straight quarter.
    Market share in North America fell to 15.8% from 16.1% during the second quarter last year.
    Vehicle sales in other parts of North America including Mexico and Canada saw sales fall 16.23%.
    However, income from China dropped 60.3% over the same quarter last year, with the Detroit automaker reporting income of $235 million, down from 2018′s record income of $592 million. GM China also reported sales that were down 12%, citing economic slowdowns in the country as a factor.
    “We do expect China to be down year over year,” Suryadevara said in an interview with CNBC.
    GM China expects to benefit from about 20 new vehicle launches, the majority of which will go on sale later in the year and consist of sport utility vehicles.
    GM reaffirmed its full-year forecast for earnings per share of $6.50 to $7.00 per share.
    “This was a very go
    Last edited by mbukukanyau; 08-01-2019 at 10:54 PM.

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    emh
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    Re: GM Financials Show Company on Path to become Most Profitable Automaker

    Link seems to have a mistake. It goes to a GM Financial Q2 results PR.

    Perhaps you meant to link to this: https://www.cnbc.com/2019/08/01/gm-e...s-q2-2019.html

    Neither article says anything about GM becoming the most profitable automaker as the thread title says. Where did that claim come from?
    "The irony of the Information Age is that it has given new respectability to uninformed opinion" -- John Lawton

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    Re: GM Financials Show Company on Path to become Most Profitable Automaker

    There is no way GM could ever overtake Toyota. They offer a full lineup of vehicles in every market in the world, something GM gave up on a long time ago.
    "The car's brilliant and ... a great surprise, pleasant surprise for all Corvette lovers everywhere ... a huge shock to our competitors ... because I don't think anybody was expecting something that good. What pleases me the most about it was that ... I can say this is the first car that's come out, that was done since I left.

    -- Bob Lutz, former vice chairman and head of global product development at GM

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    Re: GM Financials Show Company on Path to become Most Profitable Automaker

    Ahem, Most profitable or so it's said, but at a detriment to the customer in terms what they offer.

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    Re: GM Financials Show Company on Path to become Most Profitable Automaker

    Quote Originally Posted by emh View Post
    Link seems to have a mistake. It goes to a GM Financial Q2 results PR.

    Perhaps you meant to link to this: https://www.cnbc.com/2019/08/01/gm-e...s-q2-2019.html

    Neither article says anything about GM becoming the most profitable automaker as the thread title says. Where did that claim come from?
    The same place his AWD C8 Z06 claim came from.
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    Re: GM Financials Show Company on Path to become Most Profitable Automaker

    Quote Originally Posted by sdotjeezy View Post
    The same place his AWD C8 Z06 claim came from.
    The C8 will get AWD, Listen to Reuss presentation again and what he said of Mid Engine Corvette heritage.

    As to this, see, revenue is down, profits are up, look at it in the light of, GM leadership has said, they are at a point where they can remain profitable at a SAR of 12 million, tells you in the absence a serious downturn, GM will increase margins significantly

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    Re: GM Financials Show Company on Path to become Most Profitable Automaker

    Quote Originally Posted by emh View Post
    Link seems to have a mistake. It goes to a GM Financial Q2 results PR.

    Perhaps you meant to link to this: https://www.cnbc.com/2019/08/01/gm-e...s-q2-2019.html

    Neither article says anything about GM becoming the most profitable automaker as the thread title says. Where did that claim come from?
    Feelings?

    The interesting thing about the story, not only is ALL of GM's profits in North America, they are shifting even further, to just the US.

    In the wake of how GM *cough* "A Global Company" *cough* is treating/acting in the US is a totally new level or irony..............



    Quote Originally Posted by mbukukanyau View Post
    As to this, see, revenue is down, profits are up, look at it in the light of, GM leadership has said, they are at a point where they can remain profitable at a SAR of 12 million, tells you in the absence a serious downturn, GM will increase margins significantly
    Would you stop with the now almost 10 year old talking point!

    12 million SAAR (not SAR) does not guarantee a single sale of a GM product. The "profitable at 12 million SAAR" came from a time when new car sales had completely tanked, GM filed bankruptcy, cut-cost and restructured to a point that (at their current market share of [at that time] ~20%) they wouldn't burn cash. Today GM is just over 16% Market Share in the US and trying everything in their power to increase their stock price............. if (when) we have another economic downturn, how GM will fare is anybody's guess, but rest assured the typical white-collar guy that gets laid-off won't be buying another $60,000 Silverado.
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