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Jun 30, 2024
GM Q2 2024 Earnings Report
GM's Q2 2024 financial performance was released, showing increased revenue and updated full-year guidance.
Key Takeaways
General Motors reported a strong second quarter in 2024, with revenue reaching $48.0 billion and net income attributable to stockholders at $2.9 billion. The company has also updated its full-year earnings guidance for the second consecutive quarter, reflecting confidence in its financial outlook.
Revenue reached $48.0 billion, a 7.2% increase compared to Q2 2023.
Net income attributable to stockholders was $2.9 billion, up 14.3% from the previous year.
EBIT-adjusted was $4.4 billion, a 37.2% increase year-over-year.
Updated full-year earnings guidance with net income attributable to stockholders expected to be between $10.0 billion and $11.4 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
GM updated its 2024 full-year earnings guidance for the second consecutive quarter.
Positive Outlook
- Net income attributable to stockholders: $10.0 billion - $11.4 billion
- EBIT-adjusted: $13.0 billion - $15.0 billion
- Automotive operating cash flow: $19.2 billion - $22.2 billion
- Adjusted automotive free cash flow: $9.5 billion - $11.5 billion
- EPS-diluted-adjusted: $9.50 - $10.50
Challenges Ahead
- Includes anticipated capital spending of $10.5 billion - $11.5 billion, inclusive of investments in the company's battery cell manufacturing joint ventures.
- Potential impact of future adjustments related to special items.
- GM International EBIT-adjusted decreased by $186 million, a 78.8% decrease year-over-year.
- China equity income (loss) decreased by $182 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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