GM Reports Income of $2.4B and EBIT-Adj. of $3.0B

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Aug 01, 2019, 08:00 ET

DETROIT, Aug. 1, 2019 /PRNewswire/ -- General Motors Co. (NYSE: GM) today reported solid second-quarter earnings, driven by the performance of North America and significant progress on transformational cost initiatives. Strong North America EBIT-adj. margin of 10.7 percent was driven by the successful rollout of full-size light-duty pickup trucks.

Second-quarter 2019 results:

EPS-diluted of $1.66 and EPS-diluted-adjusted of $1.64, includes $(0.01) from Lyft and PSA revaluations.
Income of $2.4 billion, up 1.6% year over year.
Revenue of $36.1 billion.
GM North America EBIT-adjusted of $3.0 billion.
GM Financial EBT-adjusted of $0.5 billion.

Click here to download the full press release to see reconciliations of non-GAAP and GAAP measures, 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. EDT today to discuss second-quarter results. Introductory remarks will be 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

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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, 2018, 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