GM Driven to Loss: Fool by Numbers

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On July 20, GM (NYSE: GM) reported financial results for the second quarter, which ended June 30, 2005.

• GM's offering its employee discount to everyone. It's killing earnings, but cash flow is way up. Is Ford (NYSE: F) doing any better?

(Figures in millions, except per-share data)

Income Statement Highlights (What's this?)

	Avg. Est.	Q2 2005	Q2 2004	% Change
Sales	$38,910	$48,512	$49,254	-1.5%
Net Profit	--	-$286	$1,377	n/a
EPS	$0.03	-$0.51	$2.42	n/a

Balance Sheet Highlights (What's this?)

Assets	Q2 2005	Q2 2004	% Change
Cash+ ST Invest.	$55,274	$50,717	+9.0%
Inventory	$13,350	$12,274	+8.8%
Accounts Rec.	$18,465	$16,989	+8.7%

Liabilities
Notes + Loans Payable	$283,621	$277,027	+2.4%
Accounts Pay.	$28,694	$26,377	+8.8%

Margin Checkup (What's this?)

	Q2 2005	Q2 2004	Change
Gross Margin	17.36%	19.24%	-1.88%
Op. Margin	6.08%	8.74%	-2.66%
Net Margin	-0.59%	2.80%	-3.39%

Cash Flow Highlights (What's this?)

	Q2 2005	Q2 2004	% Change
Cash From Ops	$6,740	$4,082	+65.1%
Capital Expend.	$1,656	$1,802	-8.1%
Free Cash Flow	$5,084	$2,280	+123.0%

Related Companies:

• DaimlerChrysler (NYSE: DCX)
• Honda (NYSE: HMC)
• Toyota (NYSE: TM)
• Nissan (Nasdaq: NSANY)
• Volvo (Nasdaq: VOLVY)

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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, Nick Baker didn't have a financial position in any company mentioned. View Nick's Fool profile and stock holdings here. Fool rules are here.