General Motors Company (NYSE: GM) rose in price Tuesday on reporting earnings for the previous quarter and all of 2017.
GM announced full-year 2017 EBIT-adjusted of $12.8 billion, repeating record 2016 performance. Results were driven by strong performance in North America, improvement in GM International led by strong equity income in China and a return to profitability in South America, sustained growth of GM Financial and an intense focus on costs.
For the year just ended, GM reported Earnings Per Share of $6.62, Earnings Before Interest and Taxes (EBIT)-adjusted margin of 8.8%. North America EBIT-adjusted margin of 10.7%, the third straight year above 10%.
GM Financial Earnings Before Taxes-adjusted were $1.2 billion, up 50% and revenues of $12.2 billion, up $3.2 billion.
For 2017’s final quarter, the numbers were as follows:
• EBIT-adjusted of $3.1 billion, up 18.7%
• EPS diluted-adjusted of $1.65, up 21.3%
• North America EBIT-adjusted of $2.9 billion, up from $2.7 billion
• GM Financial EBT-adjusted of $0.3 billion, up $0.1 billion and revenues of $3.3 billion, up $0.7 billion
One of the prime companies of the world – let alone the auto industry – GM boasts leadership positions in the world's largest and fastest-growing automotive markets.
GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands.
GM shares approached the closing on Tuesday ahead of the game $2.36, or 6%, to $41.90.