Strike Impacts GM Earnings Featured

By Staff Writer February 06, 2020
On the line with the Chevrolet Volt , Gm's Detroit-Hamtramck Plant. On the line with the Chevrolet Volt , Gm's Detroit-Hamtramck Plant.

General Motors Co. reported 2019 full-year earnings that were heavily impacted by the UAW strike in the third and fourth quarters. However, underlying performance remained strong, driven by sales of GM’s all-new full-size pickups and the company’s ongoing cost actions.

Full-year 2019 results:

  • 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 percent
  • GM North America EBIT-adjusted of $8.2 billion, and EBIT-adj. margin of 7.7 percent
  • GM Financial reported record EBT-adjusted of $2.1 billion

Fourth-quarter 2019 results:

  • 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

 

Dhivya Suryadevara, GM's CFO breaks down mixed fourth-quarter earnings on CNBC. Watch below.

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Last modified on Wednesday, 12 February 2020 14:36

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