2024

America

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<p class="has-drop-cap">General Motors Co. (NYSE: GM) has reported a <a aria-label="robust financial performance for the third quarter of 2024 (opens in a new tab)" href="https://investor.gm.com/news-releases/news-release-details/gm-releases-2024-third-quarter-results-and-updates-full-year" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">robust financial performance for the third quarter of 2024</a>, showcasing significant growth in key financial metrics. The company announced a revenue of $48.8 billion, marking a 10.5% increase compared to the same period last year when the revenue was $44.1 billion. This growth can be attributed to strong sales in the North American market and a strategic focus on high-demand vehicle segments such as SUVs and trucks.</p>
<p>Net income attributable to stockholders for the quarter stood at $3.1 billion, slightly down from $3.06 billion in the previous year, indicating a marginal decline of 0.3%. However, the company’s EBIT-adjusted figure showed a more positive trend, rising by 15.5% to $4.1 billion from $3.6 billion in the prior year.</p>
<p>The automotive operating cash flow also saw a significant increase, reaching $7.9 billion, up from $6.8 billion, representing a growth of 15.7%. Adjusted automotive free cash flow rose to $5.8 billion from $4.9 billion, highlighting GM’s improved cash generation capabilities.</p>
<h3 id="general-motors-exceeds-market-expectations-for-third-quarter-of-2024">General Motors Exceeds Market Expectations for Third Quarter of 2024</h3>
<p>General Motors exceeded market expectations for the third quarter of 2024, delivering results that surpassed analysts’ projections. <br><br>The company reported an <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">diluted EPS</a> of $2.68 and an EPS-diluted-adjusted of $2.96, both figures exceeding the anticipated EPS of $2.4 for the quarter.</p>
<p>Revenue expectations for the quarter were set at $44.74 billion, but GM managed to surpass this by achieving $48.8 billion. The company’s strong revenue growth was driven by robust vehicle sales in North America and a strategic focus on high-margin segments.</p>
<p>While GM’s net income showed a slight decline compared to the previous year, the company’s EBIT-adjusted and cash flow figures indicate a healthy financial position. The positive variance in EBIT-adjusted and cash flows suggests that GM is effectively managing its operational costs and capital expenditures, thereby enhancing its financial resilience.</p>
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<h3 id="general-motors-updates-full-year-2024-earnings-guidance">General Motors Updates Full Year 2024 Earnings Guidance</h3>
<p>In light of its strong third-quarter performance, General Motors has updated its full-year 2024 earnings guidance, reflecting increased confidence in its financial outlook. <br><br>The company now expects net income attributable to stockholders to range between $10.4 billion and $11.1 billion, an upward revision from the previous guidance of $10.0 billion to $11.4 billion. This revision underscores GM’s optimistic outlook for the remainder of the year, driven by strong demand for its vehicles and ongoing cost management efforts.</p>
<p>GM has also adjusted its EBIT-adjusted guidance to a range of $14.0 billion to $15.0 billion, up from the previous range of $13.0 billion to $15.0 billion. The company anticipates continued growth in its automotive operating cash flow, now expected to be between $22.0 billion and $24.0 billion, compared to the earlier guidance of $19.2 billion to $22.2 billion. <br><br>Additionally, GM has raised its adjusted automotive free cash flow guidance to $12.5 billion to $13.5 billion, reflecting its strong cash generation capabilities.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/general-motors-gm-beats-expectations-with-48-8-b-revenue-in-third-quarter/">General Motors (GM) Beats Expectations with $48.8 B Revenue in Third Quarter</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

General Motors (GM) Beats Expectations with $48.8 B Revenue in Third Quarter

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