GM Drives Into a Ditch: Fool by Numbers

On Jan. 26, GM (NYSE: GM  ) released its Q4 2005 earnings for the period ended Dec. 31.

  • Excluding special items, GM reported a loss of $2.09 per diluted share for Q4 2005, compared with earnings of $1.28 per share a year ago.
  • For Q4 2005, GM's automotive operations had an adjusted loss of $1.5 billion, compared with earnings of $268 million a year ago.
  • GM hopes to save about $3 billion annually as a result of its agreement with the United Auto Workers union.

(Figures in millions, except per-share data)

Income Statement Highlights

Avg. Est.

Q4 2005

Q4 2004

% Change

Sales

$41,700

$51,180

$51,428

-0.5%

Net Profit

--

$(4,777)

$(99)

N/A

EPS

$(0.15)

$(8.45)

$(0.18)

N/A



Get back to basics with a look at the income statement.

Margin Checkup

Q4 2005

Q4 2004

Change

Gross Margin

6.35%

14.58%

-8.23%

Op. Margin

-5.81%

3.16%

-8.98%

Net Margin

-9.33%

-0.19%

-9.14%



Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q4 2005

Q4 2004

% Change

Cash+ ST Invest.

$50,610

$57,730

-12.3%

Inventory

$14,372

$12,247

+17.4%

Accounts Rec.

$15,420

$21,236

-27.4%



Liabilities

Q4 2005

Q4 2004

% Change

Notes/loans payable

$285,750

$300,279

-4.8%

Accounts Pay.

$29,913

$28,830

+3.8%



Related companies:

  • Ford (NYSE: F  )
  • DaimlerChrysler (NYSE: DCX  )
  • ToyotaMotor (NYSE: TM  )
  • TRWAutomotive Holdings (NYSE: TRW  )
  • Navistar International (NYSE: NAV  )

Related Foolishness:

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

At the time of publication, John Reeves did not own shares in any of the companies mentioned. Fool rules are here.


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