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General Motors (GM) Q3 Earnings Beat Estimates, Fall Y/Y
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General Motors Co. (GM - Free Report) delivered adjusted earnings of $1.32 per share in third-quarter 2017, surpassing the Zacks Consensus Estimate of $1.07. However, earnings decreased 22.8% from $1.71 per share in the third quarter of 2016.
Revenues in the reported quarter came in at $33.6 billion, 13.5% lower than the year-ago quarter. However, revenues surpassed the Zacks Consensus Estimate of $31.6 billion.
Total wholesale unit sales declined to 1.08 million vehicles from 1.34 million in the third quarter of 2016. Worldwide retail unit sales decreased to 2.32 million vehicles from 2.39 million in the year-ago quarter. The automaker’s global market share was 10% during the reported quarter, reflecting a decline from 10.6% in the year-ago quarter.
Segment Results
GM North America (GMNA) generated net sales and revenues of $24.8 billion during the third quarter of 2017, reflecting a decline from $30.1 billion in third-quarter 2016.
GM International Operations’ (GMIO) net sales and revenues came in at $3 billion, declining from $3.4 billion in the year-ago quarter.
GM South America (GMSA) generated net sales and revenues of $2.6 billion, increasing from $2 billion in the year-ago quarter.
GM Financial generated net sales and revenues of $3.2 billion during the quarter, reflecting an increase from $2.4 billion in the year-ago quarter.
Financial Position
General Motors had cash and cash equivalents of $12.8 billion as of Sep 30, 2017 compared with $12.6 billion as of Dec 31, 2016.
Automotive operating cash flow during the quarter came in at $1.1 billion, down by $5 billion from that of third-quarter 2016.
2017 Outlook
General Motors continues to expect 2017 adjusted earnings per share in the range of $6.00-$6.50. Further, the automaker is expected to generate around $6 billion in adjusted automotive free cash flow. The company aims at returning capital of up to $7 billion to its shareholders in 2017.
General Motors Company Price, Consensus and EPS Surprise
General Motors currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space include Fox Factory Holding Corp (FOXF - Free Report) , PACCAR Inc (PCAR - Free Report) and Fiat Chrysler Automobiles N.V. .
Fox Factory Holding, PACCAR and Fiat Chrysler have a long-term expected earnings growth rate of 14.2%, 10% and 19.1%, respectively.
Today’s Stocks from Zacks’ Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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General Motors (GM) Q3 Earnings Beat Estimates, Fall Y/Y
General Motors Co. (GM - Free Report) delivered adjusted earnings of $1.32 per share in third-quarter 2017, surpassing the Zacks Consensus Estimate of $1.07. However, earnings decreased 22.8% from $1.71 per share in the third quarter of 2016.
Revenues in the reported quarter came in at $33.6 billion, 13.5% lower than the year-ago quarter. However, revenues surpassed the Zacks Consensus Estimate of $31.6 billion.
Total wholesale unit sales declined to 1.08 million vehicles from 1.34 million in the third quarter of 2016. Worldwide retail unit sales decreased to 2.32 million vehicles from 2.39 million in the year-ago quarter. The automaker’s global market share was 10% during the reported quarter, reflecting a decline from 10.6% in the year-ago quarter.
Segment Results
GM North America (GMNA) generated net sales and revenues of $24.8 billion during the third quarter of 2017, reflecting a decline from $30.1 billion in third-quarter 2016.
GM International Operations’ (GMIO) net sales and revenues came in at $3 billion, declining from $3.4 billion in the year-ago quarter.
GM South America (GMSA) generated net sales and revenues of $2.6 billion, increasing from $2 billion in the year-ago quarter.
GM Financial generated net sales and revenues of $3.2 billion during the quarter, reflecting an increase from $2.4 billion in the year-ago quarter.
Financial Position
General Motors had cash and cash equivalents of $12.8 billion as of Sep 30, 2017 compared with $12.6 billion as of Dec 31, 2016.
Automotive operating cash flow during the quarter came in at $1.1 billion, down by $5 billion from that of third-quarter 2016.
2017 Outlook
General Motors continues to expect 2017 adjusted earnings per share in the range of $6.00-$6.50. Further, the automaker is expected to generate around $6 billion in adjusted automotive free cash flow. The company aims at returning capital of up to $7 billion to its shareholders in 2017.
General Motors Company Price, Consensus and EPS Surprise
General Motors Company Price, Consensus and EPS Surprise | General Motors Company Quote
Zacks Rank
General Motors currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space include Fox Factory Holding Corp (FOXF - Free Report) , PACCAR Inc (PCAR - Free Report) and Fiat Chrysler Automobiles N.V. .
Each of these stocks carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1(Strong Buy) Rank stocks here.
Fox Factory Holding, PACCAR and Fiat Chrysler have a long-term expected earnings growth rate of 14.2%, 10% and 19.1%, respectively.
Today’s Stocks from Zacks’ Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>