Categories AlphaGraphs, Earnings, Other Industries

Strong Q4 earnings send General Motors stock northwards

General Motors (GM) Wednesday reported fourth-quarter adjusted earnings of $1.43 per share, much higher than $1.21 per share projected by analysts, driven by strong pricing and surging crossover sales, successful execution of the company’s full-size truck launch.

Revenue grew 1.8% to $38.4 billion during the fourth quarter. Analysts had expected the top line to hit just $37 billion.

Buoyed by the results, GM shares jumped 4.2% during pre-market trading. The stock has lost 6% of its value in the past 12 months.

2019 Chevrolet Silverado 2.7L Turbo (image courtesy: General Motors)

On a reported basis, the company swung to earnings of $1.40 per share from a loss of $3.56 per share a year ago.

CFO Dhivya Suryadevara said, “We navigated significant headwinds in 2018 to deliver another year of strong results, demonstrating the earnings resiliency of this company. The actions we’ve been taking to shape a stronger, more profitable portfolio of businesses position GM for long-term success

General Motors fourth quarter 2018 earnings infographic

General Motors is currently going through a transitional phase as it shifts its focus towards pickups, a segment that is more profitable than cars. The company, which is struggling in the cut-throat competition in the auto market, is reportedly in the process of laying off around 4,000 employees.

The auto-giant had last week announced that it was negotiating the “feasibility” of investing about $2.73 billion (10 billion reais) in Brazil for a span of four years — from 2020 to 2024.

LISTEN TO: GENERAL MOTORS Q4 2018 EARNINGS CONFERENCE CALL 

This declaration comes just a month after the company said it would only consider new investments depending on its ability to return to profit.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference, and much more!

Most Popular

Thriving on AI power, Broadcom (AVGO) looks headed for a record year

Broadcom, Inc. (NASDAQ: AVGO), a diversified semiconductor and software company, once again reported strong quarterly results and raised guidance, aided by a surge in the demand for its AI chips

A look at Signet Jewelers’ (SIG) performance in Q1 2025

Shares of Signet Jewelers Limited (NYSE: SIG) fell over 4% on Friday. The stock has dropped 17% year-to-date. The jewelry retailer saw sales and earnings decline year-over-year in the first

ADBE Earnings: Adobe reports higher Q2 earnings; results beat estimates

Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in second-quarter 2024 revenue and earnings. The results also topped expectations. Second-quarter revenues came in at $5.31 billion,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top