General Motors Co. (NYSE: GM) today reported strong 2020 full-year and fourth quarter earnings despite production interruptions caused by the COVID-19 pandemic and the impact of the Takata airbag-inflator recall announced in November.
Barra and Chief Financial Officer Paul Jacobson will host a conference call for investors and analysts at 10 a.m. ET today to discuss these results and the company’s growth strategy. Introductory remarks will be followed by a question-and-answer session.
Those who wish to listen to the call may dial in using the following numbers:
- United States: 1-888-808-8618
- International: +1-949-484-0645
- Name of call: GM Earnings Call
Full-year 2020 highlights:
- EPS-diluted of $4.33, and EPS-diluted-adjusted of $4.90*
- Full-year income of $6.4 billion, and EBIT-adjusted of $9.7 billion
- Full-year EBIT-adjusted margin of 7.9 percent
- Full-year automotive operating cash flow of $7.5 billion, and adjusted automotive free cash flow of
- GM North America full-year EBIT-adjusted of $9.1 billion, and EBIT-adjusted margin of 9.4 percent
- GM International full-year EBIT-adjusted of $(0.5) billion
- China Equity Income of $0.5 billion
- Cruise full-year EBIT-adjusted of $(0.9) billion
- GM Financial reported record full-year EBT-adjusted of $2.7 billion
Fourth-quarter 2020 highlights:
- EPS-diluted of $1.93, and EPS-diluted-adjusted of $1.93**
- Fourth-quarter income of $2.8 billion, and EBIT-adjusted of $3.7 billion
- Fourth-quarter EBIT-adjusted margin of 9.9 percent
- Fourth-quarter automotive operating cash flow of $5.2 billion, and adjusted automotive free cash flow of $3.4 billion
- GM North America fourth-quarter EBIT-adjusted of $2.6 billion, and EBIT-adjusted margin of 8.7 percent
- GM International fourth-quarter EBIT-adjusted of $0.3 billion
- China Equity Income of $0.2 billion
- Cruise fourth-quarter EBIT-adjusted of $(0.3) billion
- GM Financial reported record fourth-quarter EBT-adjusted of $1.0 billion
* EPS-diluted and EPS-diluted-adjusted include a $0.12 gain from investments in PSA, Lyft and Lordstown Motor Corporation (LMC), and a negative impact of $(0.59) from the Takata Corp. airbag-inflator recall.
**EPS-diluted and EPS-diluted-adjusted include a $0.26 gain from investments in PSA and LMC, and a negative impact of ($0.59) from the Takata Corp. airbag-inflator recall.
See below for reconciliations of non-GAAP measures to their most directly comparable GAAP measures or visit the GM Investor Relations website for complete details.
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands.