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Dec 31, 2023
GM Q4 2023 Earnings Report
GM's Q4 2023 and Full-Year results were released, along with 2024 guidance.
Key Takeaways
GM reported a Q4 2023 revenue of $43.0 billion and a net income attributable to stockholders of $2.1 billion. The company's full-year 2023 revenue reached $171.8 billion, with a net income of $10.1 billion.
Q4 2023 revenue was $43.0 billion.
Net income attributable to stockholders for Q4 2023 was $2.1 billion.
Full-year 2023 revenue was $171.8 billion.
Full-year 2023 net income attributable to stockholders was $10.1 billion.
Revenue by Segment
Forward Guidance
GM anticipates a year of strong financial performance in 2024.
Positive Outlook
- Net income attributable to stockholders is projected to be $9.8 billion - $11.2 billion.
- EBIT-adjusted is expected to be $12.0 billion - $14.0 billion.
- Automotive operating cash flow is anticipated to be $18.0 billion - $21.0 billion.
- Adjusted automotive free cash flow is projected to be $8.0 billion - $10.0 billion.
- EPS-diluted-adjusted is expected to be $8.50 - $9.50.
Challenges Ahead
- Guidance includes an estimated $1.45 per share impact from the company's accelerated share repurchase program.
- This is offset by $0.50 from a higher tax rate and lower interest income.
- Guidance assumes a full-year weighted-average diluted share count slightly below 1.15 billion shares.
- Anticipated capital spending of $10.5 billion - $11.5 billion, inclusive of investments in the company's battery cell manufacturing joint ventures.
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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