GM Q3 Shows the Stalwart Earned $2.5B Pre-tax Before Charges

Discussion in 'GM' started by xcel, Oct 24, 2017.

  1. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    [​IMG] New GM Shares set a new record on the NYSE, the highest since GM’s June of 2009 bankruptcy and share reissue in Nov. of 2010.

    Wayne Gerdes – CleanMPG – Oct. 24, 2017

    [​IMG]

    GM posted a Q3 net loss of $2.98 billion, or $2.03 per share, compared with a profit of $2.77 billion, or $1.71 per share in the Q3 of 2016. Immediately after the announcement, shares of GM reached new highs as Q3 results revealed a $2.52 billion third-quarter pretax profit prior to a $5.4 billion charge that occurred from the now sold Opel and Vauxhall to France's PSA Group.

    Excluding one-time charges, GM made $1.32/share, beating Wall Street estimates by almost 19 percent.

    GM reported profits from all of its regional business units including South America. In North America, GM made $2.07 billion pretax and just under $500 million from its joint venture in China.

    Revenue of $33.6 billion was down 14 percent and within bounds after the sale of the company’s European Assets.

    GM stated it was on track to cut stocks of unsold vehicles in the U.S. to a manageable 70-days’ supply by year end.

    New GM Historic Stock Price Chart since issue in Nov. of 2010

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