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General Motors (GM) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended March 2024, General Motors Company (GM - Free Report) reported revenue of $43.01 billion, up 7.6% over the same period last year. EPS came in at $2.62, compared to $2.21 in the year-ago quarter.

The reported revenue represents a surprise of +4.18% over the Zacks Consensus Estimate of $41.29 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +25.96%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how General Motors 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: 792 thousand versus the three-analyst average estimate of 708.59 thousand.
  • Worldwide - Wholesale Vehicle Sales - Total: 895 thousand compared to the 898.38 thousand average estimate based on two analysts.
  • Worldwide - Wholesale Vehicle Sales - Total GMI: 104 thousand compared to the 189.77 thousand average estimate based on two analysts.
  • Total net sales and revenue- GM Financial: $3.81 billion versus $3.50 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +14% change.
  • Total net sales and revenue- Total Automotive-GMI: $3.08 billion compared to the $4.48 billion average estimate based on three analysts. The reported number represents a change of -17.3% year over year.
  • Total net sales and revenue- Total Automotive-GMNA: $36.10 billion versus the three-analyst average estimate of $32.15 billion. The reported number represents a year-over-year change of +9.8%.
  • Total net sales and revenue- Total Automotive: $39.21 billion compared to the $37.52 billion average estimate based on three analysts. The reported number represents a change of +7% year over year.
  • Total net sales and revenue- Total Automotive-Corporate: $32 million compared to the $43.65 million average estimate based on two analysts. The reported number represents a change of +3.2% year over year.
  • Total net sales and revenue- GM Cruise: $25 million compared to the $37.62 million average estimate based on two analysts. The reported number represents a change of 0% year over year.
  • Total net sales and revenue- Reclassifications/Eliminations: -$34 million versus the two-analyst average estimate of -$27.57 million. The reported number represents a year-over-year change of +17.2%.
  • Operating segments- GM Financial: $737 million compared to the $683.80 million average estimate based on four analysts.
  • Operating segments- GM Cruise: -$442 million versus -$458.28 million estimated by four analysts on average.
View all Key Company Metrics for General Motors here>>>

Shares of General Motors have returned -0.8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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