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GM Releases 2023 Fourth-Quarter and Full-Year Results, and 2024 Guidance PR Newswire DETROIT, Jan. 30, 2024 DETROIT, Jan. 30, 2024 /PRNewswire/ — General Motors Co. (NYSE: GM) today reported fourth-quarter 2023 revenue of $43.0 billion, net income attributable to stockholders of $2.1 billion and EBIT-adjusted of $1.8 billion. GM reported full-year 2023 revenue of $171.8 billion, net income attributable to stockholders of $10.1 billion and EBIT-adjusted of $12.4 billion. The chart below summarizes GM’s 2023 financial guidance and 2023 results, as well as the company’s 2024 guidance, which is for a year of strong financial performance. Final 2023 Guidance 2023 Results 2024 Guidance ——————- ————- ——————- Net income $9.1 billion – $9.7 $10.1 billion $9.8 billion – attributable to billion $11.2 billion stockholders EBIT-adjusted $11.7 billion – $12.4 billion $12.0 billion – $12.7 billion $14.0 billion Automotive operating $19.5 billion – $20.8 billion $18.0 billion – cash flow $21.0 billion

General Motors (GM) reported Q4 adjusted earnings Tuesday of $1.24 per diluted share, down from $2.12 a year earlier. Analysts polled by Capital IQ expected $1.14. Revenue for the quarter ended Dec. 31 was $42.98 billion, down from $43.11 billion a year earlier. Analysts surveyed by Capital IQ expected $39.47 billion. For 2024, the company expects adjusted earnings of $8.50 to $9.50 per diluted share. Analysts polled by Capital IQ expect $7.76. GM shares rose more than 7% in premarket trading.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target by $4 to $38, based on a ’25 P/E of 4.5x, a steep but justified discount to historical averages. We increase our adjusted EPS estimates to $8.90 from $6.40 for ’24 and to $8.50 from $6.90 for ’25. GM posts Q4 adjusted EPS of $1.24 vs. $2.12 (-42%), 10 cents ahead of consensus. The beat was driven by a stronger-than-expected top line, as revenue fell 0.3% to $43.0B ($3.5B above consensus) on 3.3% higher sales volumes. GM introduced 2024 adjusted EPS guidance of $8.50-$9.50 (current consensus = $7.76), implying Y/Y growth of 17% at the midpoint versus the $7.68 earned in 2023. The guidance largely reflects an anticipated $1.45/sh. positive impact from the previously announced share repurchase plan, but was a positive

General Motors is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The automaker posted fourth-quarter adjusted earnings that topped Wall Street’s expectations and forecast stronger profits this year. Dow Jones & Co. owns Factiva.

General Motors Boosts Quarterly Dividend By 33% From $0.09 To $0.12 Per Share.

Don’t look now, but General Motors shares have taken off. That puts its fourth-quarter earnings, and management’s forecasts for 2024, front and center for investors. As of the close on Monday, the stock was up some 26% since mid November, fueled by a new four-year-plus labor deal with the United Auto Workers and plans to raise the dividend. That is better than Ford Motor, Stellantis, and Toyota Motor shares, but those three have all posted positive returns. Tesla stock has fallen almost 20% over the same span. The S&P 500 is up about 9%. The kind of outperformance means that investors expect good news when quarterly results come. And good news starts with beating Wall Street’s estimates for earnings. For the fourth quarter, Wall Street expects an operating profit of $1.9 billion and earnings per share of about $1.16 from sales of $39.5 billion, according to Bloomberg. The results are