DETROIT — General Motors Co. (NYSE: GM) today announced strong second-quarter earnings and revenue from continuing operations driven by robust results in North America and China, solid improvement in South America and continued growth of GM Financial.
Second-quarter 2017 highlights:
- EPS-diluted of $1.60, down 8 percent, and EPS diluted-adjusted of $1.89, up 5.6 percent
- Consolidated EBIT-adjusted of $3.7 billion and EBIT-adjusted margin of 10.0 percent
- North America EBIT-adjusted of $3.5 billion, and EBIT-adjusted margin of 12.2 percent
- GM Financial EBT of $0.4 billion, up 67 percent
Income from continuing operations to common stockholders includes a net loss from special items of $0.7 billion before tax, or $0.29 per diluted share for the quarter. Special items included $0.5 billion related to GM International Operations restructuring, $0.1 billion due to Venezuela deconsolidation and approximately $0.1 billion for legal matters related to the ignition switch recall.
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.
(Note: All comparisons are year-over-year versus Q2 2016)
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 at 10 a.m. EDT today to discuss second-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 may dial in using the following numbers:
- United States:
- 888-808-8618
- International:
- 949-484-0645
- Name of Call: GM Earnings Call
General Motors Co.
GM 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. http://www.gm.com
