$GM (+1.81%) | General Motors Q3'24 Earnings Highlights:

🔹 Adj EPS: $2.96 (Est. $2.40) 🟢; UP +29.8% YoY

🔹 Revenue: $48.76B (Est. $44.74B) 🟢; UP +10.5% YoY

FY24 Guidance:

🔹 Adj EPS: $10.00–$10.50 (SAW: $9.50–$10.50; Est. $9.97) 🟢

🔹 Adj EBIT: $14.0B–$15.0B (SAW: $13.0B–$15.0B) 🟢

🔹 Auto. OCF: $22.0B–$24.0B (SAW: $19.2B–$22.2B) 🟢

🔹 Adj Auto. FCF: $12.5B–$13.5B (SAW: $9.5B–$11.5B) 🟢

🔹 Net Income: $10.4B–$11.1B (SAW: $10.0B–$11.4B) 🟢

Segment Performance:

GM North America:

🔹 Adjusted EBIT: $3.98B; UP +12.9% YoY

🔹 EBIT Margin: 9.7% 

GM International:

🔹 Adjusted EBIT: $42M; DOWN -88.2% YoY

China Operations:

🔹 Equity Loss: $(137)M (vs. $192M Income)

GM Financial:

🔹 EBT-Adjusted: $687M; DOWN -7.3% YoY

Operational Highlights:

🔹 Delivered 32,000 EVs; #2 in U.S. EV sales

🔹 Sold 15,000 Chevrolet Equinox EVs in first quarter

🔸 On track to meet 2024 EV production targets (~200,000 EVs)

🔸 Expect $2B–$4B EV profitability tailwind in 2025

China Market:

🔸 Sales improved sequentially, but challenges persist

🔸 Dealer inventories reduced sharply, improving sell-through

CEO Commentary:

🔸 "We remain on track for 2024 EV targets. Despite improvements, China remains challenging."

Additional Info:

🔹 Capital Spending: $10.5B–$11.5B for 2024

🔹 Targeting <1 billion shares outstanding by early 2025 through share buybacks