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Compared to Estimates, General Motors (GM) Q2 Earnings: A Look at Key Metrics
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General Motors (GM - Free Report) reported $47.97 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.2%. EPS of $3.06 for the same period compares to $1.91 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $45.41 billion, representing a surprise of +5.63%. The company delivered an EPS surprise of +14.61%, with the consensus EPS estimate being $2.67.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how General Motors 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: 903 thousand versus the three-analyst average estimate of 831.05 thousand.
Total net sales and revenue- GM Financial: $3.92 billion versus the five-analyst average estimate of $3.66 billion. The reported number represents a year-over-year change of +12%.
Total net sales and revenue- Total Automotive: $44.06 billion versus the four-analyst average estimate of $41.25 billion. The reported number represents a year-over-year change of +6.8%.
Total net sales and revenue- Total Automotive-GMI: $3.30 billion compared to the $3.89 billion average estimate based on three analysts. The reported number represents a change of -16.6% year over year.
Total net sales and revenue- Total Automotive-GMNA: $40.73 billion versus $36.63 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +9.4% change.
Total net sales and revenue- Total Automotive-Corporate: $37 million compared to the $59.35 million average estimate based on two analysts. The reported number represents a change of -53.2% year over year.
Total net sales and revenue- GM Cruise: $51 million compared to the $50.21 million average estimate based on two analysts. The reported number represents a change of +96.2% year over year.
Total net sales and revenue- Reclassifications/Eliminations: -$35 million compared to the -$27.70 million average estimate based on two analysts.
Operating segments- GM Financial: $822 million versus the four-analyst average estimate of $686.79 million.
Operating segments- GM Cruise: -$458 million versus the four-analyst average estimate of -$433.03 million.
Operating segments- Corporate and eliminations: -$409 million versus -$291.91 million estimated by four analysts on average.
Operating segments- GMNA: $4.43 billion versus the three-analyst average estimate of $3.34 billion.
Shares of General Motors have returned +3% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, General Motors (GM) Q2 Earnings: A Look at Key Metrics
General Motors (GM - Free Report) reported $47.97 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.2%. EPS of $3.06 for the same period compares to $1.91 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $45.41 billion, representing a surprise of +5.63%. The company delivered an EPS surprise of +14.61%, with the consensus EPS estimate being $2.67.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how General Motors 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: 903 thousand versus the three-analyst average estimate of 831.05 thousand.
- Total net sales and revenue- GM Financial: $3.92 billion versus the five-analyst average estimate of $3.66 billion. The reported number represents a year-over-year change of +12%.
- Total net sales and revenue- Total Automotive: $44.06 billion versus the four-analyst average estimate of $41.25 billion. The reported number represents a year-over-year change of +6.8%.
- Total net sales and revenue- Total Automotive-GMI: $3.30 billion compared to the $3.89 billion average estimate based on three analysts. The reported number represents a change of -16.6% year over year.
- Total net sales and revenue- Total Automotive-GMNA: $40.73 billion versus $36.63 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +9.4% change.
- Total net sales and revenue- Total Automotive-Corporate: $37 million compared to the $59.35 million average estimate based on two analysts. The reported number represents a change of -53.2% year over year.
- Total net sales and revenue- GM Cruise: $51 million compared to the $50.21 million average estimate based on two analysts. The reported number represents a change of +96.2% year over year.
- Total net sales and revenue- Reclassifications/Eliminations: -$35 million compared to the -$27.70 million average estimate based on two analysts.
- Operating segments- GM Financial: $822 million versus the four-analyst average estimate of $686.79 million.
- Operating segments- GM Cruise: -$458 million versus the four-analyst average estimate of -$433.03 million.
- Operating segments- Corporate and eliminations: -$409 million versus -$291.91 million estimated by four analysts on average.
- Operating segments- GMNA: $4.43 billion versus the three-analyst average estimate of $3.34 billion.
View all Key Company Metrics for General Motors here>>>Shares of General Motors have returned +3% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.