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General Motors Company (GM) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2023, General Motors Company (GM - Free Report) reported revenue of $44.13 billion, up 5.4% over the same period last year. EPS came in at $2.28, compared to $2.25 in the year-ago quarter.
The reported revenue represents a surprise of +1.93% over the Zacks Consensus Estimate of $43.3 billion. With the consensus EPS estimate being $1.84, the EPS surprise was +23.91%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how General Motors Company performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Worldwide - Wholesale Vehicle Sales - Total GMNA: 810 thousand versus 813.75 thousand estimated by three analysts on average.
Worldwide - Wholesale Vehicle Sales - Total: 981 thousand versus the two-analyst average estimate of 1,017.31 thousand.
Worldwide - Wholesale Vehicle Sales - Total GMI: 171 thousand compared to the 196.51 thousand average estimate based on two analysts.
Total net sales and revenue- GM Financial: $3.64 billion versus $3.17 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.3% change.
Total net sales and revenue- Total Automotive-GMI: $4.33 billion compared to the $4.55 billion average estimate based on three analysts. The reported number represents a change of +8.8% year over year.
Total net sales and revenue- Total Automotive-GMNA: $36.11 billion versus the three-analyst average estimate of $35.86 billion. The reported number represents a year-over-year change of +4.1%.
Total net sales and revenue- Total Automotive: $40.50 billion versus $40.33 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
Total net sales and revenue- Total Automotive-Corporate: $67 million compared to the $33.01 million average estimate based on two analysts. The reported number represents a change of +109.4% year over year.
Total net sales and revenue- GM Cruise: $25 million versus $62.51 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Total net sales and revenue- Eliminations: -$38 million compared to the -$26.08 million average estimate based on two analysts. The reported number represents a change of +40.7% year over year.
Operating segments- GM Cruise: -$807 million versus the three-analyst average estimate of -$542.20 million.
Operating segments- Corporate and eliminations: -$32 million versus the three-analyst average estimate of -$286.50 million.
Shares of General Motors Company have returned -11.6% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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General Motors Company (GM) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, General Motors Company (GM - Free Report) reported revenue of $44.13 billion, up 5.4% over the same period last year. EPS came in at $2.28, compared to $2.25 in the year-ago quarter.
The reported revenue represents a surprise of +1.93% over the Zacks Consensus Estimate of $43.3 billion. With the consensus EPS estimate being $1.84, the EPS surprise was +23.91%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how General Motors Company performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Worldwide - Wholesale Vehicle Sales - Total GMNA: 810 thousand versus 813.75 thousand estimated by three analysts on average.
- Worldwide - Wholesale Vehicle Sales - Total: 981 thousand versus the two-analyst average estimate of 1,017.31 thousand.
- Worldwide - Wholesale Vehicle Sales - Total GMI: 171 thousand compared to the 196.51 thousand average estimate based on two analysts.
- Total net sales and revenue- GM Financial: $3.64 billion versus $3.17 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.3% change.
- Total net sales and revenue- Total Automotive-GMI: $4.33 billion compared to the $4.55 billion average estimate based on three analysts. The reported number represents a change of +8.8% year over year.
- Total net sales and revenue- Total Automotive-GMNA: $36.11 billion versus the three-analyst average estimate of $35.86 billion. The reported number represents a year-over-year change of +4.1%.
- Total net sales and revenue- Total Automotive: $40.50 billion versus $40.33 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
- Total net sales and revenue- Total Automotive-Corporate: $67 million compared to the $33.01 million average estimate based on two analysts. The reported number represents a change of +109.4% year over year.
- Total net sales and revenue- GM Cruise: $25 million versus $62.51 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
- Total net sales and revenue- Eliminations: -$38 million compared to the -$26.08 million average estimate based on two analysts. The reported number represents a change of +40.7% year over year.
- Operating segments- GM Cruise: -$807 million versus the three-analyst average estimate of -$542.20 million.
- Operating segments- Corporate and eliminations: -$32 million versus the three-analyst average estimate of -$286.50 million.
View all Key Company Metrics for General Motors Company here>>>Shares of General Motors Company have returned -11.6% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.