An Earnings Beat: General Motors (GM - Free Report) reported adjusted earnings of 5 cents per share in fourth-quarter 2019 as against the Zacks Estimate for loss of 11 cents. However, the bottom line declined 96.5% from the year-ago figure
Estimate Revision Trend & Surprise History: The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings being revised downward by 13 cents over the last 30 days.
Coming to earnings surprise history, the U.S. auto giant is on a solid footing, having gone past the Zacks Consensus Estimate in each of the last four reports, with the average positive surprise being 27%.
Revenues Miss: General Motors reported revenues of $30,826 million, missing the Zacks Consensus Estimate of $35,249 million. Moreover, the top line decreased from the year-ago figure of $38,399 million.
Key Stats: GM North America (GMNA) generated net sales and revenues of $22.7 billion in fourth-quarter 2019, down from $29.8 billion recorded in the corresponding period of 2018.
GM International’s (GMI) net sales and revenues were $4.4 billion, declining from $4.9 billion in the year-ago quarter.
GM Financial generated net sales and revenues of $3.63 billion in the quarter under review, reflecting a rise from $3.59 billion recorded in the year-ago period.
GM Cruise generated net sales and revenues of $25 million in the fourth quarter of 2019.
Zacks Rank: Currently, General Motors carries a Zacks Rank #3 (Hold).
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this General Motors earnings report later!
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