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General Motors Co. (NYSE: GM) today reported 2019 full-year earnings that were heavily damaged by a UAW strike in Q3 and Q4. However, sales of GM’s all-new full-size pickups and the company’s ongoing cost-cutting actions ameliorated what would have been a total rout for GM investors.
U.S. market share declined year-over-year because of the UAW strike and discontinuation of some passenger cars. China market share declined y-o-y due to segment shifts, lower demand for outgoing models and the slower rate of adoption of new fuel-efficient technology.
GM Full-Year 2019
- EPS-diluted of $4.57 and EPS-diluted-adjusted of $4.82 EPS-diluted-adjusted includes $(1.89) impact from the strike, and a $0.12 benefit from Lyft and PSA revaluations
- Full-year income of $6.7 billion and EBIT-adjusted of $8.4 billion, which includes a $(3.6) billion impact from the strike
- Full-year EBIT-adjusted margin of 6.1% GM North America EBIT-adjusted of $8.2 billion, and EBIT-adjusted margin of 7.7%
- GM Financial reported record EBT-adjusted of $2.1 billion
GM Q4 2019
- EPS-diluted of $(0.16) and EPS-diluted-adjusted of $0.05 (EPS-diluted-adjusted includes a $(1.39) impact from the strike and $(0.02) impact from Lyft and PSA revaluations.
- Revenue of $30.8 billion
- GM North America EBIT-adjusted of $0.3 billion
- Record GM Financial EBT-adjusted of $0.5 billion.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
General Motors Posts Huge Q4 Strike Losses and a Weak 2019
Click to Enlarge.
General Motors Co. (NYSE: GM) today reported 2019 full-year earnings that were heavily damaged by a UAW strike in Q3 and Q4. However, sales of GM’s all-new full-size pickups and the company’s ongoing cost-cutting actions ameliorated what would have been a total rout for GM investors.
U.S. market share declined year-over-year because of the UAW strike and discontinuation of some passenger cars. China market share declined y-o-y due to segment shifts, lower demand for outgoing models and the slower rate of adoption of new fuel-efficient technology.
GM Full-Year 2019
GM Q4 2019
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.