General Motors Company (GM - Free Report) reported third-quarter 2018 adjusted earnings per share of $1.87, up 41.7% from the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of $1.26. The quarter witnessed robust performance across all new full-size trucks and crossovers in North America.
General Motors reported revenues of $35.8 billion, up 6.4% from the year-ago quarter figure. Further, revenues surpassed the Zacks Consensus Estimate of $34.2 billion.
During the last reported quarter, total sales for the wholesale unit increased to 1.13 million from 1.08 million in the third quarter of 2017. Worldwide retail unit sales decreased to 1.98 million from 2.32 million in the year-ago quarter. This automaker’s global market share was 8.6% during the reported quarter, reflecting a decline from 10% in the year-ago quarter.
GM North America (“GMNA”) generated net sales and revenues of $27.7 billion during the third quarter of 2018, up from $24.8 billion recorded in third-quarter 2017.
GM International’s (“GMI”) net sales and revenues were $4.6 billion, declining from $5.6 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 $3.2 billion recorded in the year-ago quarter.
General Motors had cash and cash equivalents of $18.4 billion as of Sep 30, 2018, compared with $15.5 billion as of Dec 31, 2017.
Adjusted automotive free cash flow during the reported quarter was $396 million versus $1.2 billion of free cash used in the prior-year quarter.
General Motors currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Advance Auto Parts, Inc. (AAP - Free Report) and AutoZone, Inc. (AZO - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 13.4%.
Advance Auto Parts has an expected long-term growth rate of 12.3%. Over the past six months, shares of the company have risen 44.1%.
AutoZone has an expected long-term growth rate of 12.2%. Over the past six months, shares of the company have risen 19.7%.
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