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MarketScreener Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

GENERAL MOTORS COMPANY

(GM)
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General Motors : GM's Operating Profit Slips as Sales Cool Across Key Markets

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08/01/2019 | 08:23am EST

By Mike Colias

General Motors Co. said second-quarter operating profit declined 5.6% as sales cooled across key markets globally, though the Detroit auto maker's results breezed past analysts' expectations and it offered an upbeat outlook for the rest of the year.

GM's operating profit for the April-to-June period fell to $3 billion, or $1.64 a share, better than the average analysts' estimate of $1.44 a share.

The company said strong pricing on its redesigned large pickup trucks in North America helped blunt weak sales in China, where its second-quarter profit fell by more than half from a year earlier.

The largest U.S. auto maker by sales said net income edged up 1% to $2.42 billion. Revenue dropped 2%, to $36.1 billion.

GM said the second half of the year should be stronger than the first -- partly from the rollout of new versions of its largest pickup trucks -- and stood by its full-year earnings guidance of $6.50 to $7 a share.

The outlook comes despite trade tensions and other headwinds in the global car business that have prompted some auto makers and large parts suppliers to lower their full-year profit forecasts.

Rival Ford Motor Co. last week disappointed investors with a lower-than-expected profit outlook for the year.

GM Chief Executive Mary Barra has reshaped the auto maker's global operations by exiting Europe and other markets where it has struggled. That has left GM more dependent on the world's two biggest car markets -- China and the U.S. -- to drive profits, and it continues to perform well in each region relative to peers.

Write to Mike Colias at Mike.Colias@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY 1.01% 9.02 Delayed Quote.17.91%
GENERAL MOTORS COMPANY 0.65% 35.54 Delayed Quote.6.25%
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Financials (USD)
Sales 2019 137 B
EBIT 2019 8 580 M
Net income 2019 6 281 M
Finance 2019 4 076 M
Yield 2019 4,36%
P/E ratio 2019 8,06x
P/E ratio 2020 5,73x
EV / Sales2019 0,34x
EV / Sales2020 0,29x
Capitalization 50 779 M
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Technical analysis trends GENERAL MOTORS COMPANY
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TrendsBearishNeutralNeutral
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 46,95  $
Last Close Price 35,54  $
Spread / Highest target 91,3%
Spread / Average Target 32,1%
Spread / Lowest Target -4,33%
EPS Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Mark L. Reuss President
Dhivya Suryadevara Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
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