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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.
GM
GM
GM Revenue by Segment
GM Revenue by Geographic Location
Revenue by Segment
GM North America Revenue
CapyFin.comGM International Revenue
CapyFin.comCruise Revenue
CapyFin.comGM Financial Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.com 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.
- Adjusted automotive free cash flow decreased by $(251) million, a (4.5)% decrease year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income