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General Motors (GM) Q3 Earnings & Revenues Beat Estimates
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General Motors Company (GM - Free Report) is a leading global automotive company based in the United States. The automaker is focused on investment in innovative technologies and vehicles which should provide sustained growth while maximizing shareholder value. The company is also gaining new contracts to expand its business.
However, high inventory and increasing recalls are concerns.
Estimate Trend & Surprise History
Investors should note that the Zacks Consensus Estimates for third-quarter and full year earnings for General Motors has declined over the last week.
General Motors has delivered positive earnings surprises in the past few quarters. It surpassed the Zacks Consensus Estimate in each of the trailing 4 quarters with an average beat of around 14.7%.
We have highlighted some of the key stats from this just-revealed announcement below:
During the quarter, General Motors’ adjusted earnings came in at $1.32 per share. The prior-year quarter adjusted earnings were 1.71 per share. The bottom line comfortably beat the Zacks Consensus Estimate of $1.07.
Revenues
General Motors reported revenues of $33.6 billion, down 13.5% from the year ago quarter figure. Revenues surpassed the Zacks Consensus Estimate of $31.6 billion.
Key Stats/Developments to Note
During the quarter, total sales delivered in the U.S. were 781,056 vehicles, which were driven by 25% increase in crossover sales.
The third quarter crossover performance is the best in the history of General Motors.
Zacks Rank
Currently, General Motors has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released.
General Motors’ share price has increased 2.6% in pre-market trading so far after the automaker released the second quarter results. Clearly, the initial reaction to the report is positive.
Check back later for our full write up on General Motors’ earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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General Motors (GM) Q3 Earnings & Revenues Beat Estimates
General Motors Company (GM - Free Report) is a leading global automotive company based in the United States. The automaker is focused on investment in innovative technologies and vehicles which should provide sustained growth while maximizing shareholder value. The company is also gaining new contracts to expand its business.
However, high inventory and increasing recalls are concerns.
Estimate Trend & Surprise History
Investors should note that the Zacks Consensus Estimates for third-quarter and full year earnings for General Motors has declined over the last week.
General Motors has delivered positive earnings surprises in the past few quarters. It surpassed the Zacks Consensus Estimate in each of the trailing 4 quarters with an average beat of around 14.7%.
We have highlighted some of the key stats from this just-revealed announcement below:
General Motors Company Price and EPS Surprise
General Motors Company Price and EPS Surprise | General Motors Company Quote
Earnings
During the quarter, General Motors’ adjusted earnings came in at $1.32 per share. The prior-year quarter adjusted earnings were 1.71 per share. The bottom line comfortably beat the Zacks Consensus Estimate of $1.07.
Revenues
General Motors reported revenues of $33.6 billion, down 13.5% from the year ago quarter figure. Revenues surpassed the Zacks Consensus Estimate of $31.6 billion.
Key Stats/Developments to Note
During the quarter, total sales delivered in the U.S. were 781,056 vehicles, which were driven by 25% increase in crossover sales.
The third quarter crossover performance is the best in the history of General Motors.
Zacks Rank
Currently, General Motors has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction
General Motors’ share price has increased 2.6% in pre-market trading so far after the automaker released the second quarter results. Clearly, the initial reaction to the report is positive.
Check back later for our full write up on General Motors’ earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>