DETROIT, Feb. 5, 2020 /PRNewswire/ -- General Motors
Co. (NYSE: GM) today reported solid 2019 full-year earnings that
were heavily impacted by a work stoppage in the third and fourth
quarters. However, underlying performance remained strong, driven
by sales of GM's all-new full-size pickups and the company's
ongoing cost actions.
Full-year 2019 results:
- EPS-diluted of $4.57 and
EPS-diluted-adjusted of $4.82
-
- EPS diluted-adjusted includes $(1.89) impact from the strike, and a
$0.12 benefit from Lyft and PSA
revaluations
- Full-year income of $6.7 billion
and EBIT-adjusted of $8.4 billion,
which includes a $(3.6) billion
impact from the strike
- Full year EBIT-adjusted margin of 6.1 percent
- GM North America EBIT-adjusted of $8.2
billion, and EBIT-adj. margin of 7.7 percent
- GM Financial reported record EBT-adjusted of $2.1 billion
Fourth-quarter 2019 results:
- EPS-diluted of $(0.16) and
EPS-diluted-adjusted of $0.05
-
- EPS-diluted-adjusted includes a $(1.39) impact from the strike and $(0.02) impact from Lyft and PSA
revaluations
- Revenue of $30.8 billion
- GM North America EBIT-adjusted of $0.3
billion
- Record GM Financial EBT-adjusted of $0.5
billion
Click here to download the full press release to see GM's
2020 outlook and reconciliations of non-GAAP and GAAP measures, or
visit the GM Investor Relations website.
Capital Markets Day Investor Event
GM will host a webcast for investors today from 10 a.m. to 2 p.m. EST. Leadership will share
various strategic updates, as well as 2019 fourth quarter and
calendar year business results and 2020 guidance.
The format of the webcast will include presentations by
leadership followed by a question-and-answer session. To join the
live video webcast click here.
For audio only, the call-in numbers are:
Call-in (U.S.): 888-808-8618
Call-in (international/caller-paid): +1-949-484-0645
Conference ID: 9952078
Conference Call Name: General Motors Capital Markets Day
Please phone in at least 15 minutes, but no sooner than 30
minutes, in advance to ensure you are connected to the call.
General Motors (NYSE:GM) is committed to delivering
safer, better and more sustainable ways for people to get around.
General Motors, its subsidiaries and its joint venture entities
sell vehicles under the Cadillac, Chevrolet,
Baojun, Buick, GMC, Holden,
and Wuling brands. More information on the company and
its subsidiaries, including OnStar, a global leader in vehicle
safety and security services, Maven, its personal mobility
brand, and Cruise, its autonomous vehicle company, can be found
at http://www.gm.com.
Cautionary Note on Forward-Looking Statements: This press
release may include "forward-looking statements" within the meaning
of the U.S. federal securities law. 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. Many
of these factors are described our Annual Report on Form 10-Kand
our 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.
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SOURCE General Motors Co.