DETROIT — General Motors Co. (NYSE: GM) today announced record full-year 2016 results driven by strong retail demand for full-size trucks and SUVs in the United States, continued industry growth in China and effective cost performance across the globe.
Full-year 2016 Records:
- EBIT-adjusted of $12.5 billion, up 15.9 percent
- EBIT-adjusted margin of 7.5 percent, up 0.4 percentage points
- EPS-diluted of $6.00, up 1.5 percent
- EPS-diluted-adjusted of $6.12, up 21.9 percent
- Revenue of $166.4 billion, up 9.2 percent
- Automotive-adjusted free cash flow of $6.9 billion, up $4.7 billion
- North America EBIT-adjusted of $12.0 billion.
Fourth-quarter 2016 Records:
- Revenue of $43.9 billion, up 10.8 percent
- ROIC-adjusted of 28.9 percent, up from 27.2 percent
Based on GM North America’s 2016 financial performance, approximately 52,000 eligible GM U.S. hourly employees will receive up to a maximum profit sharing payout of $12,000.
For complete details and to see reconciliations of non-GAAP 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 Executive Vice President and CFO Chuck Stevens will host a conference call for investor analysts at 10 a.m. EST today to discuss fourth-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 can dial in using the following numbers:
United States: 1-888-808-8618
Name of Call: GM Earnings Call
(Note: All comparisons are year-over-year versus CY 2015 or Q4 2015)
General Motors Co. (NYSE:GM, TSX: GMM) 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. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.