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Here's What Key Metrics Tell Us About General Motors (GM) Q3 Earnings
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For the quarter ended September 2024, General Motors (GM - Free Report) reported revenue of $48.76 billion, up 10.5% over the same period last year. EPS came in at $2.96, compared to $2.28 in the year-ago quarter.
The reported revenue represents a surprise of +10.85% over the Zacks Consensus Estimate of $43.99 billion. With the consensus EPS estimate being $2.49, the EPS surprise was +18.88%.
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.
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: 893 thousand compared to the 815.21 thousand average estimate based on three analysts.
Total net sales and revenue- GM Financial: $4.03 billion compared to the $3.80 billion average estimate based on five analysts. The reported number represents a change of +10.7% year over year.
Total net sales and revenue- Total Automotive: $44.74 billion versus $39.75 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.5% change.
Total net sales and revenue- Total Automotive-GMI: $3.52 billion versus $3.54 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.8% change.
Total net sales and revenue- Total Automotive-GMNA: $41.16 billion versus the three-analyst average estimate of $36.03 billion. The reported number represents a year-over-year change of +14%.
Total net sales and revenue- Total Automotive-Corporate: $62 million versus $72.42 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -7.5% change.
Total net sales and revenue- GM Cruise: $26 million compared to the $24.84 million average estimate based on two analysts. The reported number represents a change of +4% year over year.
Total net sales and revenue- Reclassifications/Eliminations: -$36 million versus the two-analyst average estimate of -$33.05 million. The reported number represents a year-over-year change of -5.3%.
Operating segments- GM Financial: $687 million versus the four-analyst average estimate of $698.27 million.
Operating segments- GM Cruise: -$383 million compared to the -$411.47 million average estimate based on four analysts.
Operating segments- Corporate and eliminations: -$213 million compared to the -$412.99 million average estimate based on four analysts.
Operating segments- GMNA: $3.98 billion versus $3.67 billion estimated by three analysts on average.
Shares of General Motors have returned +1.9% over the past month versus the Zacks S&P 500 composite's +2.8% 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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Here's What Key Metrics Tell Us About General Motors (GM) Q3 Earnings
For the quarter ended September 2024, General Motors (GM - Free Report) reported revenue of $48.76 billion, up 10.5% over the same period last year. EPS came in at $2.96, compared to $2.28 in the year-ago quarter.
The reported revenue represents a surprise of +10.85% over the Zacks Consensus Estimate of $43.99 billion. With the consensus EPS estimate being $2.49, the EPS surprise was +18.88%.
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.
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: 893 thousand compared to the 815.21 thousand average estimate based on three analysts.
- Total net sales and revenue- GM Financial: $4.03 billion compared to the $3.80 billion average estimate based on five analysts. The reported number represents a change of +10.7% year over year.
- Total net sales and revenue- Total Automotive: $44.74 billion versus $39.75 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.5% change.
- Total net sales and revenue- Total Automotive-GMI: $3.52 billion versus $3.54 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -18.8% change.
- Total net sales and revenue- Total Automotive-GMNA: $41.16 billion versus the three-analyst average estimate of $36.03 billion. The reported number represents a year-over-year change of +14%.
- Total net sales and revenue- Total Automotive-Corporate: $62 million versus $72.42 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -7.5% change.
- Total net sales and revenue- GM Cruise: $26 million compared to the $24.84 million average estimate based on two analysts. The reported number represents a change of +4% year over year.
- Total net sales and revenue- Reclassifications/Eliminations: -$36 million versus the two-analyst average estimate of -$33.05 million. The reported number represents a year-over-year change of -5.3%.
- Operating segments- GM Financial: $687 million versus the four-analyst average estimate of $698.27 million.
- Operating segments- GM Cruise: -$383 million compared to the -$411.47 million average estimate based on four analysts.
- Operating segments- Corporate and eliminations: -$213 million compared to the -$412.99 million average estimate based on four analysts.
- Operating segments- GMNA: $3.98 billion versus $3.67 billion estimated by three analysts on average.
View all Key Company Metrics for General Motors here>>>Shares of General Motors have returned +1.9% over the past month versus the Zacks S&P 500 composite's +2.8% 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.