GM Q1 2024 Earnings Report

GM's Q1 2024 financial performance reflected strong revenue and earnings, leading to an increased full-year guidance.

Key Takeaways

General Motors reported a strong first quarter in 2024, with revenue reaching $43.0 billion and net income attributable to stockholders at $3.0 billion. The company has raised its full-year earnings guidance based on these results.

Revenue reached $43.0 billion, marking a 7.6% increase compared to Q1 2023.

Net income attributable to stockholders was $3.0 billion, a 24.4% increase from the previous year.

EBIT-adjusted stood at $3.9 billion, up 1.8% year-over-year.

The company updated its 2024 full-year earnings guidance, projecting net income between $10.1 billion and $11.5 billion.

Total Revenue

$43B

Previous year: $40B

+7.6%

EPS

$2.62

Previous year: $2.21

+18.6%

Gross Profit

$5.91B

Previous year: $5.13B

+15.3%

Cash and Equivalents

$28.7B

Previous year: $18.2B

+57.7%

Free Cash Flow

-$3.07B

Previous year: -$132M

+2222.7%

Total Assets

$277B

Previous year: $267B

+3.6%

GM

GM Revenue by Segment

Forward Guidance

GM is updating its 2024 full-year earnings guidance.

Positive Outlook

Net income attributable to stockholders is projected to be $10.1 billion - $11.5 billion.
EBIT-adjusted is expected to range from $12.5 billion to $14.5 billion.
Automotive operating cash flow is anticipated to be between $18.3 billion and $21.3 billion.
Adjusted automotive free cash flow is forecasted at $8.5 billion - $10.5 billion.
EPS-diluted-adjusted is expected to be $9.00 - $10.00.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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