GM Earns $4.3 Billion in Q3 2022

GM Q3 2022 Financial Results – Courtesy GM Oct 25

Ken Zino of AutoInformed.com on GM Earns $4.3 Billion in Q3 2022

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GM Q3 2022 Results
• Highest ever quarterly GMNA revenue of ~$34.7B and EV sales of ~15.2K
• GMNA EBIT-adjusted up $1.8B YoY due to ~85% increase in wholesale volume, including completing and shipping nearly75% of vehicles built without components from Q2’22.
• Reiterate confidence in 2022 GMNA EBIT-adjusted margin full-year guidance of 10%*
• Reinstated dividend and opportunistically bought back shares during third quarter.
• Solid GM Financial results in line with full-year expectations.
• Cruise announced expansion to two new markets, Austin and Phoenix, in addition to hundreds of AVs in concurrent operation within San Francisco by the end of this year.

*GM Earnings Guidance
• EBIT-ADJ. No Change $13.0B – $15.0B
• EPS-DILUTED-ADJ. No Change $6.50 – $7.50
• ADJ. AUTO FREE CASH FLOW No Change $7.0B – $9.0B
• WHOLESALE VOLUME INCREASE No Change 25% – 30%
• GMNA EBIT ADJ. MARGINS No Change 10%

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