GM Reports Another Strong Year of Earnings

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Feb 06, 2019, 08:30 ET

DETROIT, Feb. 6, 2019 /PRNewswire/ -- General Motors Co. (NYSE: GM) today reported strong 2018 full-year earnings. Results were driven by strong pricing, surging crossover sales, growth of GM Financial earnings, disciplined cost control and the successful launch of the company's all-new full-size pickup trucks: the Chevrolet Silverado and GMC Sierra.

Full-year 2018 results:

EPS-diluted of $5.58 and EPS-diluted-adjusted of $6.54
Full-year income of $8.1 billion and EBIT-adjusted of $11.8 billion
Full-year EBIT-adjusted margin of 8.0 percent
North America EBIT-adjusted of $10.8 billion
China equity income of $2 billion
GM Financial EBT-adjusted of $1.9 billion, up 58 percent

Fourth-quarter 2018 results:

EPS-diluted of $1.40 and EPS-diluted-adjusted of $1.43
Revenue of $38.4 billion, up 1.8 percent from fourth-quarter 2017
Strong GM North America EBIT-adjusted of $3.0 billion
Record GM Financial EBT of $0.4 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.

Investor analyst conference call
GM Chairman and CEO Mary Barra and Chief Financial Officer Dhivya Suryadevara will host a conference call for investor analysts at 10 a.m. EST today to discuss fourth-quarter and full-year 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:           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 Cadillac, Chevrolet, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, Maven, its personal mobility brand, and Cruise, its autonomous vehicle ride-sharing company, 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 Private Securities Litigation Reform Act of 1995. We caution readers not to place undue reliance on forward-looking statements. Statements including 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 to identify forward-looking statements represent our current judgment about possible future events. 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. These statements are not guarantees of future performance; they involve risks and uncertainties and actual events or results may differ materially from these statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond our control and are described in our Annual Report on Form 10-K for the year ended December 31, 2017, as well as additional factors we may describe from time to time in other filings with the U.S. Securities and Exchange Commission. 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.

Basis of Presentation: The financial and operational information included in this press release relate to our continuing operations and not our discontinued operations, which consist of the Opel and Vauxhall businesses and certain other assets in Europe and the European financing subsidiaries and branches that were sold in 2017.

SOURCE General Motors