General Motors Posts Huge Q4 Strike Losses and a Weak 2019

AutoInformed.com on GM 2019 Global Vehicle Deliveries

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General Motors Co. (NYSE: GM) today reported 2019 full-year earnings that were heavily damaged by a UAW strike in Q3 and Q4. However, sales of GM’s all-new full-size pickups and the company’s ongoing cost-cutting actions ameliorated what would have been a total rout for GM investors.

U.S. market share declined year-over-year because of the UAW strike and discontinuation of some passenger cars. China market share declined y-o-y due to segment shifts, lower demand for outgoing models and the slower rate of adoption of new fuel-efficient technology.

GM Full-Year 2019

  • EPS-diluted of $4.57 and EPS-diluted-adjusted of $4.82 EPS-diluted-adjusted includes $(1.89) impact from the strike, and a $0.12 benefit from Lyft and PSA revaluations
  • Full-year income of $6.7 billion and EBIT-adjusted of $8.4 billion, which includes a $(3.6) billion impact from the strike
  • Full-year EBIT-adjusted margin of 6.1% GM North America EBIT-adjusted of $8.2 billion, and EBIT-adjusted margin of 7.7%
  • GM Financial reported record EBT-adjusted of $2.1 billion

 GM Q4 2019

  • EPS-diluted of $(0.16) and EPS-diluted-adjusted of $0.05 (EPS-diluted-adjusted includes a $(1.39) impact from the strike and $(0.02) impact from Lyft and PSA revaluations.
  • Revenue of $30.8 billion
  • GM North America EBIT-adjusted of $0.3 billion
  • Record GM Financial EBT-adjusted of $0.5 billion.

 

About Kenneth Zino

Ken Zino is an auto industry veteran with global experience in print, broadcast and electronic media. He has auto testing, marketing, public relations and communications expertise garnered while working in Asia, Europe and the U.S.
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