General Motors Company (GM ) reported second-quarter 2018 adjusted earnings per share of $1.81, down 4.2% from the prior-year quarter. The bottom line also lagged the Zacks Consensus Estimate of $1.84. Significant rise in commodity costs and unfavorable foreign exchange adversely affected the results.
General Motors reported revenues of $36.8 billion, down 0.6% from the year-ago quarter figure. Further, revenues came in lower than the Zacks Consensus Estimate of $37 billion.
During the last reported quarter, total sales for the wholesale unit declined to 1.20 million from 1.21 million in the second quarter of 2017. Worldwide retail-unit sales decreased to 2.06 million from 2.34 million in the year-ago quarter. The automaker’s global market share was 8.6% during the reported quarter, reflecting a decline from 10.2% in the year-ago quarter.
Segment Results
GM North America (GMNA) generated net sales and revenues of $28.5 billion during the second quarter of 2018, marginally up from $28.4 billion recorded in second-quarter 2017.
GM International (GMI) net sales and revenues were $4.8 billion, declining from $5.5 billion in the year-ago quarter.
GM Financial generated net sales and revenues of $3.5 billion during the quarter under review, reflecting an increase from $3 billion recorded in the year-ago quarter.
Financial Position
General Motors had cash and cash equivalents of $15.1 billion as of Jun 30, 2018, compared with $15.5 billion as of Dec 31, 2017.
Second-quarter 2018, adjusted automotive free cash flow during the reported quarter was $2.6 billion compared with $2.3 billion recorded in the prior-year quarter.
General Motors carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) , AB Volvo (VLVLY - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Over the past year, shares of the company have moved up 3.2%.
AB Volvo has an expected long-term growth rate of 15%. Over the past year, shares of the company have gained 1%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 34.6% over the past year.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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General Motors Company (GM ) reported second-quarter 2018 adjusted earnings per share of $1.81, down 4.2% from the prior-year quarter. The bottom line also lagged the Zacks Consensus Estimate of $1.84. Significant rise in commodity costs and unfavorable foreign exchange adversely affected the results.
General Motors reported revenues of $36.8 billion, down 0.6% from the year-ago quarter figure. Further, revenues came in lower than the Zacks Consensus Estimate of $37 billion.
During the last reported quarter, total sales for the wholesale unit declined to 1.20 million from 1.21 million in the second quarter of 2017. Worldwide retail-unit sales decreased to 2.06 million from 2.34 million in the year-ago quarter. The automaker’s global market share was 8.6% during the reported quarter, reflecting a decline from 10.2% in the year-ago quarter.
Segment Results
GM North America (GMNA) generated net sales and revenues of $28.5 billion during the second quarter of 2018, marginally up from $28.4 billion recorded in second-quarter 2017.
GM International (GMI) net sales and revenues were $4.8 billion, declining from $5.5 billion in the year-ago quarter.
GM Financial generated net sales and revenues of $3.5 billion during the quarter under review, reflecting an increase from $3 billion recorded in the year-ago quarter.
Financial Position
General Motors had cash and cash equivalents of $15.1 billion as of Jun 30, 2018, compared with $15.5 billion as of Dec 31, 2017.
Second-quarter 2018, adjusted automotive free cash flow during the reported quarter was $2.6 billion compared with $2.3 billion recorded in the prior-year quarter.
General Motors carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) , AB Volvo (VLVLY - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Over the past year, shares of the company have moved up 3.2%.
AB Volvo has an expected long-term growth rate of 15%. Over the past year, shares of the company have gained 1%.
Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 34.6% over the past year.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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