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General Motors Company (GM) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2023, General Motors Company (GM - Free Report) reported revenue of $44.75 billion, up 25.1% over the same period last year. EPS came in at $1.91, compared to $1.14 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $42.48 billion, representing a surprise of +5.34%. The company delivered an EPS surprise of +10.40%, with the consensus EPS estimate being $1.73.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how General Motors Company performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Worldwide - Wholesale Vehicle Sales - Total GMNA: 833 thousand versus the three-analyst average estimate of 778.35 thousand.
Worldwide - Wholesale Vehicle Sales - Total: 979 thousand versus the two-analyst average estimate of 978.93 thousand.
Worldwide - Wholesale Vehicle Sales - Total GMI: 147 thousand versus the two-analyst average estimate of 195.37 thousand.
Total net sales and revenue- GM Financial: $3.50 billion versus $3.13 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.2% change.
Total net sales and revenue- Total Automotive: $41.25 billion versus the three-analyst average estimate of $39.04 billion. The reported number represents a year-over-year change of +26.5%.
Total net sales and revenue- Total Automotive-GMNA: $37.22 billion compared to the $34.57 billion average estimate based on three analysts. The reported number represents a change of +29.4% year over year.
Total net sales and revenue- Total Automotive-GMI: $3.96 billion versus the three-analyst average estimate of $4.52 billion. The reported number represents a year-over-year change of +3.9%.
Total net sales and revenue- Total Automotive-Corporate: $79 million compared to the $39.83 million average estimate based on two analysts. The reported number represents a change of +68.1% year over year.
Total net sales and revenue- GM Cruise: $26 million versus the two-analyst average estimate of $50.06 million. The reported number represents a year-over-year change of +4%.
Operating segments- GM Cruise: -$611 million versus -$525.60 million estimated by three analysts on average.
Operating segments- GMNA: $3.19 billion versus $3.06 billion estimated by three analysts on average.
Operating segments- Corporate and eliminations: -$351 million versus the three-analyst average estimate of -$429.09 million.
Shares of General Motors Company have returned +7.1% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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General Motors Company (GM) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2023, General Motors Company (GM - Free Report) reported revenue of $44.75 billion, up 25.1% over the same period last year. EPS came in at $1.91, compared to $1.14 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $42.48 billion, representing a surprise of +5.34%. The company delivered an EPS surprise of +10.40%, with the consensus EPS estimate being $1.73.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how General Motors Company performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Worldwide - Wholesale Vehicle Sales - Total GMNA: 833 thousand versus the three-analyst average estimate of 778.35 thousand.
- Worldwide - Wholesale Vehicle Sales - Total: 979 thousand versus the two-analyst average estimate of 978.93 thousand.
- Worldwide - Wholesale Vehicle Sales - Total GMI: 147 thousand versus the two-analyst average estimate of 195.37 thousand.
- Total net sales and revenue- GM Financial: $3.50 billion versus $3.13 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.2% change.
- Total net sales and revenue- Total Automotive: $41.25 billion versus the three-analyst average estimate of $39.04 billion. The reported number represents a year-over-year change of +26.5%.
- Total net sales and revenue- Total Automotive-GMNA: $37.22 billion compared to the $34.57 billion average estimate based on three analysts. The reported number represents a change of +29.4% year over year.
- Total net sales and revenue- Total Automotive-GMI: $3.96 billion versus the three-analyst average estimate of $4.52 billion. The reported number represents a year-over-year change of +3.9%.
- Total net sales and revenue- Total Automotive-Corporate: $79 million compared to the $39.83 million average estimate based on two analysts. The reported number represents a change of +68.1% year over year.
- Total net sales and revenue- GM Cruise: $26 million versus the two-analyst average estimate of $50.06 million. The reported number represents a year-over-year change of +4%.
- Operating segments- GM Cruise: -$611 million versus -$525.60 million estimated by three analysts on average.
- Operating segments- GMNA: $3.19 billion versus $3.06 billion estimated by three analysts on average.
- Operating segments- Corporate and eliminations: -$351 million versus the three-analyst average estimate of -$429.09 million.
View all Key Company Metrics for General Motors Company here>>>Shares of General Motors Company have returned +7.1% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.