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Jun 30, 2023
GM Q2 2023 Earnings Report
GM's Q2 2023 earnings were released, revealing increased revenue and net income compared to the same period last year, and full-year earnings guidance was raised.
Key Takeaways
General Motors reported a strong second quarter with revenue reaching $44.7 billion and net income attributable to stockholders of $2.6 billion. The company's EBIT-adjusted was $3.2 billion. The company also updated its full-year 2023 guidance for the second consecutive quarter.
Second-quarter revenue reached $44.7 billion.
Net income attributable to stockholders was $2.6 billion.
EBIT-adjusted stood at $3.2 billion.
Full-year 2023 earnings guidance was raised.
Revenue by Segment
Forward Guidance
GM is updating its full-year 2023 guidance for the second consecutive quarter.
Positive Outlook
- U.S. GAAP net income attributable to stockholders of $9.3 billion-$10.7 billion, compared to the previous outlook of $8.4 billion-$9.9 billion
- EBIT-adjusted of $12.0 billion-$14.0 billion, compared to the previous outlook of $11.0 billion-$13.0 billion
- U.S. GAAP net automotive cash provided by operating activities of $18.0 billion-$21.0 billion, compared to the previous outlook of $16.5 billion-$20.5 billion
- Adjusted automotive free cash flow of $7.0 billion-$9.0 billion, compared to the previous outlook of $5.5 billion-$7.5 billion
- Capital expenditures of $11 billion-$12 billion, compared to the previous outlook of $11 billion-$13 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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