- General Motors Company GM reported second-quarter FY22 sales growth of 4.7% year-on-year, to $35.76 billion, beating the analyst consensus estimate of $34.59 billion.
- Costs and expenses for the quarter rose 7.5% Y/Y to $33.6 billion.
- The operating income for the quarter decreased 26.6% Y/Y to $2.1 billion, with an operating margin of 5.9%.
- The net income margin contracted 360 basis points Y/Y to 4.7%.
- Adjusted EBIT for the quarter totaled $2.3 billion with an adjusted EBIT margin of 6.6%.
- The company held $16.7 billion in cash and equivalents as of June 30, 2022. The cash provided by operating activities totaled $5.2 billion.
- The automotive operating cash flow for the quarter was $3.5 billion, and the adjusted automotive free cash flow totaled $1.4 billion.
- Adjusted EPS of $1.14 missed the analyst consensus of $1.30.
- Outlook: General Motors sees FY22 net income of $9.6 billion - $11.2 billion.
- The company expects FY22 adjusted EPS of $6.50 - $7.50, versus the consensus estimate of $6.89.
- GM CFO says it still expects 95,000 vehicles waiting for chips to be shipped before the year-end.
- Price action: GM shares are trading lower by 3.68% at $33.25 in premarket on the last check Tuesday.
- Photo: Courtesy of Fortune Live Media on flickr
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...