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.

Total Revenue

$44.7B

Previous year: $35.8B

+25.1%

EPS

$1.91

Previous year: $1.14

+67.5%

Gross Profit

$5.35B

Previous year: $4.41B

+21.3%

Cash and Equivalents

$23.1B

Previous year: $16.7B

+38.1%

Free Cash Flow

$5.55B

Previous year: $1.41B

+294.3%

Total Assets

$276B

Previous year: $254B

+8.8%

GM

GM 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

Company Overview

Full financial data and analysis

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