{"id":9068,"date":"2021-10-27T08:37:14","date_gmt":"2021-10-27T12:37:14","guid":{"rendered":"https:\/\/autosector.com\/auto\/?p=9068"},"modified":"2021-10-27T08:37:14","modified_gmt":"2021-10-27T12:37:14","slug":"gm-bullish-on-full-year-guidance","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=9068","title":{"rendered":"GM bullish on full year guidance – Just Auto"},"content":{"rendered":"
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\n\t\t\t\t\t\t\t \"GM<\/a>\n\t\t\t\t\t\t\t <\/div>\n<\/figure>\n

General Motors Q3 net income almost halved to an EBIT adjusted US$2,922m from $5,284m in Q3 2020.\n<\/p>\n

EBIT adjusted margin dropped to 10.9% from 14.9%.\n<\/p>\n

Revenue was $26,779m versus $35,480m.<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t <\/p>\n

Year to date net income improved, however, to $8,278m from $3,581m.<\/p>\n

EBIT adjusted was $11,456m versus $5,998m.<\/p>\n

Q3 adjusted earnings per share were $1.52 compared with $2.83.\n<\/p>\n

GM said the Q3 results reflected \u201cstrong price and mix performance in\u00a0North America<\/span>, the benefit of the company\u2019s recall cost recovery agreement with LG Electronics and the continued strong financial results at GM Financial\u201d.\n<\/p>\n

The company expected to deliver full-year 2021 EBIT-adjusted earnings approaching the high end of its guidance range \u2013 full year EPS diluted of between $5.52 and $6.52, and EPS adjusted of between $5.70 and $6.70; full year net income of between $8.1bn and $9.6bn, and EBIT-adjusted of between $11.5bn and $13.5bn.\n<\/p>\n

\u201cThe quarter was challenging due to continuing semiconductor pressures,\u201d CEO Mary Barra said.\n<\/p>\n