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General Motors 3Q 2020 financials


rperez817

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https://media.gm.com/media/us/en/gm/home.detail.html/content/Pages/news/emergency_news/2020/1105-earnings.html

 

Highlights.

 

DETROIT  General Motors Co. (NYSE: GM) today reported third-quarter earnings driven by its agility, and strong and growing franchises. Despite the COVID-19 pandemic, the company continued to invest in its electric vehicle and autonomous vehicle growth initiatives, launched an all-new portfolio of full-size Chevrolet, GMC and Cadillac sport utility vehicles, and maintained leading U.S. full-size pickup truck and large SUV market share.

Third-quarter 2020 results:

  • EPS-diluted of $2.78, and EPS-diluted-adjusted of $2.83
    • EPS-diluted-adjusted includes a $0.05 gain from Groupe PSA revaluations
  • Income of $4.0 billion, and EBIT-adjusted of $5.3 billion
  • EBIT-adjusted margin of 14.9 percent
  • Revenue of $35.5 billion
  • Automotive liquidity of $37.8 billion
  • Automotive operating cash flow of $9.9 billion, and adjusted automotive free cash flow of $9.1 billion
  • GM North America EBIT-adjusted of $4.4 billion
  • GM Financial EBT-adjusted of $1.2 billion
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1 hour ago, fuzzymoomoo said:


1980_chevrolet_citation-pic-44324-1600x1

I think am Edsel Citation was needed more...

 

That being said, that car was the answer that the market needed in the early 80's and if GM built that with even the slightest hint of quality, that car would have been their Camry and the Toyota would have never had a chance. Instead it is the butt of many jokes.

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6 hours ago, FR739 said:

Wow these results are incredible!  Nice to see the rebound but it’s certainly only temporary.  Come January, companies will see a decline in revenue for at least the next 4 years.  Hope GM is saving a lot of this money. 

 

Yes sir FR739. With another wave of Covid-19 cases happening all over the world, the automotive industry overall could face some serious setbacks next year. GM has to balance their long term goals with short term survival. The incredible Q3 results show that GM is not just surviving but thriving, but who knows what the next 3 quarters have in store.

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6 hours ago, FR739 said:

Wow these results are incredible!  Nice to see the rebound but it’s certainly only temporary.  Come January, companies will see a decline in revenue for at least the next 4 years.  Hope GM is saving a lot of this money. 

 

Didn't know you had a crystal ball...................

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15 hours ago, rperez817 said:

 

Yes sir FR739. With another wave of Covid-19 cases happening all over the world, the automotive industry overall could face some serious setbacks next year. GM has to balance their long term goals with short term survival. The incredible Q3 results show that GM is not just surviving but thriving, but who knows what the next 3 quarters have in store.

 

COVID is going to be second or third page news after the new administration starts...and racism will be solved too. 

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4 minutes ago, silvrsvt said:

 

COVID is going to be second or third page news after the new administration starts...and racism will be solved too. 


Not just that, but all of our problems. Every one of them. Just ask Joe, he might tell you, or he'll say random nonsense that barely resembles a complete sentence. 

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2 hours ago, silvrsvt said:

 

COVID is going to be second or third page news after the new administration starts...and racism will be solved too. 

 

Nobody cared about the crowds outside the White House when it was Biden supporters.  But if it were Trump supporters, it'd have been the end of the world - mega covid death spreaders blah blah blah.

 

I don't care who you support and/or voted for, but the hypocrisy (on both sides) is ridiculous.

Edited by rmc523
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3 hours ago, fuzzymoomoo said:


Not just that, but all of our problems. Every one of them. Just ask Joe, he might tell you, or he'll say random nonsense that barely resembles a complete sentence. 

 

It won't matter....Edith Wilson, oops, I mean Kamala Harris, will really be running the show. 

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5 hours ago, valve said:

I know this is a hot topic but maybe we could leave the politics to a different thread, dedicated to that topic, and get back to talking about cars (and competitors)?

 

Thank you valve sir. GM announced today that it's adding 3,000 jobs in Q4 2020 and Q1 2021 in areas related to the company's software. GM's strong 3Q 2020 results probably played a big role in this decision, along with their long term goal of transitioning to a 100% electric vehicle lineup. https://media.gm.com/media/us/en/gm/home.detail.html/content/Pages/news/us/en/2020/nov/1109-techjobs.html

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7 hours ago, rmc523 said:

I don't care who you support and/or voted for, but the hypocrisy (on both sides) is ridiculous.

 

That's the nature of politics, nothing new there. The important thing for GM and Ford too is that both companies congratulated the new president elect of the USA and are looking forward to working with his administration.

 

GM statement, from VP Ken Morris.

Quote

"We're looking forward to working with the Biden administration in support of policies that will foster greater adoption of EVs across all 50 states and encourage investments in R&D and manufacturing. At the end of the day, climate change is a global concern. And the best way to remove automobile emissions from the environmental equation is an all-electric zero-emissions future."

 

Ford statement.

Quote

"We congratulate President-Elect Biden and the newly and re-elected officials across all levels of government. It is our hope these leaders will focus on bringing the country together and pursue policies that encourage U.S. manufacturing, sustainability, and global economic stability."

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51 minutes ago, rperez817 said:

 

That's the nature of politics, nothing new there. The important thing for GM and Ford too is that both companies congratulated the new president elect of the USA and are looking forward to working with his administration.

 

GM statement, from VP Ken Morris.

 

Ford statement.

Biden was instrumental in saving the auto companies back in 2009 and a good friend to Detroit over the years. Metro Detroit got its fair share of Tiger funds during that time. Still remember Mitt Romney who grew up just down the road from me being against the auto bailouts. Btw, the Romney family home in Palmer Park was torn down a few years ago. Kind of symbolic in a way.

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4 hours ago, rperez817 said:

 

That's the nature of politics, nothing new there. The important thing for GM and Ford too is that both companies congratulated the new president elect of the USA and are looking forward to working with his administration.

 

GM statement, from VP Ken Morris.

 

Ford statement.

 

You expect them to say different?

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On 11/9/2020 at 2:28 PM, Gurgeh said:

Plus suddenly accelerated vaccine development will be welcomed.


True but that’s the orange mans vaccine so I expect half the country not to take it.  Heck it may not be available as someone in the new cabinet wants to distribute it to the world before all Americans.  Sounds logical.  We come up with the vaccine and are the last to get it.  

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2 hours ago, FR739 said:


True but that’s the orange mans vaccine so I expect half the country not to take it.  Heck it may not be available as someone in the new cabinet wants to distribute it to the world before all Americans.  Sounds logical.  We come up with the vaccine and are the last to get it.  


Democrats, spearheaded by Andrew Cuomo, are already speaking out against it. 

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12 minutes ago, fuzzymoomoo said:


Democrats, spearheaded by Andrew Cuomo, are already speaking out against it. 

 

Hi

 

If you guys want to discuss politics, can you create a new thread? This is a very polarizing subject that probably doesn't need to be in the middle of a discussion on GM's third quarter results.

 

Thanks :)

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13 minutes ago, fuzzymoomoo said:


Democrats, spearheaded by Andrew Cuomo, are already speaking out against it. 


I find it amazing how the party of “inclusion and diversity” is anything but inclusive and diverse if you think differently/don’t agree with everything they say.

This us vs. them mentality needs to stop.

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5 minutes ago, rmc523 said:


I find it amazing how the party of “inclusion and diversity” is anything but inclusive and diverse if you think differently/don’t agree with everything they say.

This us vs. them mentality needs to stop.


That's literally the one thing I'm giving Joe Biden credit for right now is preaching unity. Problem his, practically NOBODY else in the party is, they’re going the exact opposite direction with their Trump supporter/donor lists and whatnot. 

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