According to Korean Investors, falling cargo prices could see profits reduce next quarter. For around-the-clock GM news coverage. GM DOES NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE INFORMATION OR THE RELIABILITY OF ANY ADVICE, OPINION, STATEMENT OR OTHER INFORMATION DISPLAYED OR DISTRIBUTED THROUGH THIS SITE OR ANY LINKED WEB SITE. GM MAY MAKE ANY OTHER CHANGES TO THIS SITE AND THE INFORMATION CONTAINED IN THIS SITE AT ANY TIME WITHOUT NOTICE. IF YOU DO NOT AGREE TO ABIDE BY AND BE BOUND BY THESE TERMS AND CONDITIONS, DO NOT USE THIS SITE OR DOWNLOAD MATERIALS FROM THE SITE. Unfortunately, this is how we pay the bills and our authors. DETROIT — General Motors Co. (NYSE: GM) today reported solid second-quarter earnings, despite significant impacts to production and wholesales as a result of the COVID-19 pandemic. General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM Chairman and CEO Mary Barra and Chief Financial Officer Dhivya Suryadevara will host a conference call for investor analysts at 10 a.m. EDT today to discuss second-quarter results. We would love for you to enjoy our content, we've worked hard on providing it. Changes will be effective when notice of such change is posted. Margin EBIT-adj. Power data. GM characterizes the earnings as “solid,” in light of “significant impacts to production and wholesales as a result of the COVID-19 pandemic.” Additionally, the Detroit-based automaker stated in its release announcing the figures that “the results reflect actions GM has taken over the past few years to be more resilient.”. GM says that it “is working all avenues to increase U.S. dealer stocks,” having restarted all U.S. full-size pickup truck and full-size SUV plants to three shifts, and nearly all other plants to pre-pandemic shift levels. * Make $60k-$80k per year doing what you love. You can also subscribe without commenting. While Operating Profit Margin total ranking has impoved so far to , from total ranking in previous quarter at 1980 . “We have a track record of making swift and strategic decisions to ensure our long-term success for the benefit of all our stakeholders. GM makes no representation that information in this Site is appropriate or available for use in other locations, and access to this Site from countries or territories where the Site's content is illegal is prohibited. Your email address will not be published. Auto FCF EPS-Diluted-adj. Maybe someday (I doubt it ) GM will realize by producing vehicles that the consumer does not want or cheap materials used or discontinuing models ,are going to affect they’re bottom line . Asiana reported a ₩115.1 billion ($96.9 million) profit in the same quarter, with revenue falling 45%. For complete details and to see reconciliations of non-GAAP measures to their most directly comparable GAAP measures, click here to download the full press release, or visit the GM Investor Relations website. The linked sites are not under the control of GM and GM is not responsible for the content of any linked site or any link contained in a linked site. – U.S. retail penetration levels up due to GM incentive programs and strong dealer engagement with GM Financial – Retail net charge-offs in Q2 2020 only slightly impacted by effects of COVID-19; retail credit metrics expected to weaken in H2 – U.S. floorplan penetration of GM dealers exceeded 30% milestone • Customer experience But yeah I guess your baseless claim makes sense…………. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at Your continued use of the Site after any changes are posted will be considered acceptance of those changes. General Motors gross profit for the twelve months ending September 30, 2020 was $10.503B, a 32.46% decline year-over-year. GM sales in the second quarter 2020 decreased 34 percent to 492,489 units in the U.S. See GM sales figures, numbers, and results for Q2 2020. General Motors Company recorded Operating Loss compare to Operating Income achieved in previous quarter. Refreshed 2021 Chevrolet S10 Officially Launches In Brazil, GM Q3 2020 Earnings: $4 Billion Income On $35.5 Billion Revenue, GM Investing $2 Billion Into Spring Hill Plant To Build Cadillac Lyriq, General Motors Sells Credit Card Business For $2.5 Billion. GM RESERVES THE RIGHT, IN ITS SOLE DISCRETION, TO CORRECT ANY ERRORS OR OMISSIONS IN ANY PORTION OF THE SITE. Total automotive liquidity at the end of the quarter remained strong at $30.6 billion. The results reflect actions GM has taken over the past few years to be more resilient. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors, both positive and negative. We know, advertisements are annoying and slow down the internet. GM Second-Quarter Results Show Business Resiliency, click here to download the full press release, GM is Positioned for Strong, Long Term Business Results, EPS-diluted of $(0.56), and EPS-diluted-adjusted of $(0.50), EPS-diluted-adjusted includes a $0.08 gain from PSA revaluations, Income of $(0.8) billion, and EBIT-adjusted of $(0.5) billion, Automotive operating cash flow of $(8.0) billion, and adjusted automotive free cash flow of $(9.0) billion, GM North America EBIT-adjusted near breakeven at $(0.1) billion, GM Financial EBT-adjusted of $0.2 billion. GM continued to invest in key product programs and launches, “including GM’s EV programs and AV vehicle technology, full-size trucks and key crossover programs.”. The quarter benefitted from a $500-million dividend from GM’s China operations and a $400-million dividend from GM Financial. GM Q2 2020 adjusted auto free cash flow was -$9.0 billion, down $11.6 billion year over year. Compared to the second quarter of 2019, these results represent a 133 percent decline in income and a 53 percent decline in revenue. The all-new Chevrolet Trailblazer and Buick Encore GX have been performing well in a highly competitive segment. These results illustrate the resiliency and earnings power of the business as we make the critical investments necessary for our future,” said GM CFO Dhivya Suryadevara. Cautionary Note on Forward-Looking Statements: This press release contains forward-looking statements that represent our current judgment about possible future events. Over the past several years, GM has taken many actions over the past several years that have positioned the company well for a downturn. These statements are based on current expectations about possible future events and thus are inherently uncertain. See. During the second quarter of 2020, GM continued to make “significant progress” on its transformational cost savings initiatives. Your email address will not be published. GM's … GM reserves the right to terminate any link or linking program at any time. IN NO EVENT SHALL GM OR ANY OF ITS SUBSIDIARIES BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL OR OTHER DAMAGES (INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION OR PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM) THAT ARE RELATED TO THE USE OF, OR THE INABILITY TO USE, THE CONTENT, MATERIALS, AND FUNCTIONS OF THIS SITE OR ANY LINKED WEB SITE, EVEN IF GM IS EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.


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