GM Earns a Record $9.4 billion on revenue of $166.4 billion in 2016

Discussion in 'In the News' started by xcel, Feb 7, 2017.

  1. xcel

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

    [​IMG] Lower fleet and higher retail in the U.S., record 10.0 million vehicles sold globally.

    [​IMG]Wayne Gerdes – CleanMPG – Feb. 7, 2017

    Detroit -- Earlier this morning GM announced it achieved record full-year 2016 results driven by strong retail demand for full-size trucks and SUVs in the U.S., continued industry growth in China and cost performance across the globe.

    For the year ended Dec. 31, 2016, GM sold a record 10 million vehicles across the globe, up 1.2 percent over 2015.

    In Q4, GM sold 2.78 million vehicles, up 3.3 percent compared to Q4 2015. December 2016 global volume of 1.05 million units was the highest in the company’s history and the fourth consecutive year of record global deliveries.

    For the full year, GM sold 3.04 million vehicles in the U.S. In China, deliveries increased 7.1 percent to a record 3.87 million vehicles.

    Breaking down the regions, North America experienced EBIT of $12.0 billion USD, up $1.0 billion over the $11.0 billion earned in 2015.

    International incl. China - actually it is China – saw EBIT of $1.1 billion USD, down $0.3 billion from the $1.4 billion USD earned in 2015.

    Europe and South America continues its negative EBIT of $0.3 and $0.4 billion USD loss compared to the $0.8 and $0.6 billion USD loss respectively in 2015.

    Full-year 2016 Record Results:

    Revenue of $166.4 billion, up 9.2 percent
    EBIT-adjusted of $12.5 billion, up 15.9 percent
    EBIT-adjusted margin of 7.5 percent, up 0.4 percentage points
    EPS-diluted of $6.00, up 1.5 percent
    EPS-diluted-adjusted of $6.12, up 21.9 percent
    Automotive-adjusted free cash flow of $6.9 billion, up $4.7 billion
    North America EBIT-adjusted of $12.0 billion.

    Fourth-quarter 2016 Records:

    Revenue of $43.9 billion, up 10.8 percent
    Approximately 52,000 eligible GM U.S. hourly employees will receive up to a maximum profit sharing payout of $12,000.

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