GM: 2024 profit slumps to $6bn

(CercleFinance.com) - GM reports FY 2024 sales of $187.
4bn, up 9.1% from the previous year. NB: pmt +0.7%.

The automaker posted adjusted EBIT of $14.93bn, up by almost 21% (in line with its forecast range of $14bn to $15bn), but announced net income that fell by 40.7% to $6bn, well below its target range of $10.4bn to $11.1bn.

EPS came in at $6.37 (-13%), against GM's target range of $9.14 to $9.64, but at $10.6 on an adjusted basis (+38%), slightly ahead of its expectations (between $10 and $10.5).

GM posted Q4 2024 sales of $47.7bn (+11%) and a net loss of $2.96bn (vs. a profit of $2.1bn a year earlier), giving EPS of -$1.64 (vs. $1.59 previously) and adjusted EPS of $1.92 (+54.8%).

For fiscal year 2025, the manufacturer is targeting net income of $11.2bn to $12.5bn, adjusted EBIT of $13.7bn to $15.7bn and adjusted EPS of between $11 and $12.

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