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, and
- 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: 1-888-808-8618
Name of Call: GM Earnings Call
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.