The 10-second takeaway
For the quarter ended June 30 (Q2), General Motors missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped significantly.
Margins dropped across the board.
General Motors chalked up revenue of $37.61 billion. The seven analysts polled by S&P Capital IQ looked for revenue of $38.50 billion on the same basis. GAAP reported sales were 4.5% lower than the prior-year quarter's $39.37 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.90. The 18 earnings estimates compiled by S&P Capital IQ forecast $0.79 per share. GAAP EPS of $0.90 for Q2 were 42% lower than the prior-year quarter's $1.54 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 12.4%, 150 basis points worse than the prior-year quarter. Operating margin was 4.8%, 160 basis points worse than the prior-year quarter. Net margin was 4.9%, 270 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $37.02 billion. On the bottom line, the average EPS estimate is $0.73.
Next year's average estimate for revenue is $153.32 billion. The average EPS estimate is $3.24.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 806 members out of 1,005 rating the stock outperform, and 199 members rating it underperform. Among 197 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 144 give General Motors a green thumbs-up, and 53 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on General Motors is outperform, with an average price target of $33.44.
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