GM rebounds with $8.1 billion profit on strong pricing

GM rebounds with $8.1 billion profit on strong pricing

Analysts are expecting average earnings estimates of $1.22 for the current quarter based on the opinion of 15 analysts, relating to high earnings per share estimates of $1.63 and low estimates of $1.07, however General Motors Company (NYSE:GM) reported $1.65 earnings per share for the same quarter previous year.

The automaker made $10.8 billion before taxes in North America, down about 9 percent from 2017.

Workers should see the payments in their February 22 paycheck, GM said in a Wednesday statement.

GM made $10.8 billion before taxes in North America, meaning big profit-sharing checks for about 46,500 union workers in the U.S. They'll get $10,750 each, down from last year's $11,500.

"The UAW Membership makes the components for and builds the finest General Motors cars, trucks, crossovers, SUVs and vans in the world right here in the U.S.A.", UAW vice president and director of the GM department Terry Dittes said in a statement.

General Motors (GM) sold 3.65 million vehicles past year in China, which retained the title of the biggest market for the leading US auto maker. This week, GM started telling 4,300 other salaried workers that they were out of a job.

Earlier this week, GM said it would begin to cut $4,000 white-collar workers.

The Official Trailer For Shaft Has Been Released
The Shaft films began with Roundtree in 1971 so, more than 40 years later, there have probably been many changes. Serving as executive producers are Tim Story , Ira Napoliello, Kenya Barris , Marc S.

The company plans to eliminate about 6,000 factory worker jobs by closing three auto assembly plants and two other factories. The firm's quarterly revenue was up 1.8% on a year-over-year basis.

The automaker did report that pretax profit resulted in $2.8 billion, or $1.43 a share, which bested the average analysts' estimate of $1.24 a share. Excluding restructuring charges, the company's per-share earnings were US$1.43, also breezing past Wall Street expectations of US$1.24.

General Motors shares closed higher for a third consecutive trading session in NY on Wednesday. The carmaker's chief financial officer (CFO), Dhivya Suryadevara, noted the success of its Cadillac vehicles in the Asian nation despite declining sales overall in China.

The Trump administration's tariffs on imported aluminum and steel raised prices of those commodities, costing the company more than $1 billion a year ago.

'GM delivered another strong year of earnings in a highly volatile environment in 2018.

China was a weak spot in the final three months of last year, however, with operating profit in the country falling by almost 40 per cent compared with a year earlier. GM Financial, the company's lending arm, earned $1.9 billion, nearly 60 percent more than in 2017. Its income from the region fell to US$307 million in the quarter from $504 million a year earlier. Analysts had expected earnings of $1.22 per share on revenue of $36.48 billion.

General Motors Company (NYSE:GM) as of current trade, has shown weekly performance of 2.16% which was maintained at 17.91% in one month period. General Motors Company (NYSE:GM)'s price to sales ratio for trailing twelve month stands at 0.37, whereas its price to book ratio for the most recent quarters is at 1.46.

Related News:

Most liked

Clemson has 11 players invited to the National Football League combine
He could really set they hype train in motion for this year's first-year signal callers if he lights it up in Indianapolis . The news comes a week after Murray said he didn't know if he would attend the combine .

Knicks waive Kanter, Matthews after trade deadline
After seeing their worth increase by 17 percent year-over-year, the Suns are worth $1.5 billion, according to Forbes . The Bulls have led the National Basketball Association in attendance for the last nine years.

Drainage problems detected in collapsed Brazil dam
The Laranjeiras dam has been paralyzed since Monday after a court order suspended the Brucutu iron ore mine in Minas Gerais. So far, O Globo reports, there are 121 confirmed deaths, 114 of which have been identified.

Threat Intelligence Security Market Size & Share Outlook Up To 2016
The report extensively provides the Business Intelligence Market share, size, growth, trends , and forecasts. Coherent estimation of revenue, sales, profit, growth rate, CAGR based on numerous vital segments.

Princess Ubolratana running for the March 24 Thai election
Ubolratana is running for prime minister but not a seat in parliament, which is allowed under the election law. Crucially he has appointed a new army chief from a different faction of the military to the ruling junta.

Police seize $1.29 billion drug haul bound for Australia
The previous record of seized methylamphetamine bound for Australia was 1.3 tonnes found in Western Australia in December 2017. Authorities from the AFP, Victoria Police and Australian Border Force will address the media on Friday morning.

Phillies get top catcher Realmuto from Marlins for 3 players
A 20-year-old right-hander, Sanchez was the Phillies top prospect for the last year or so. Sanchez is thought to be the Marlins' prized acquisition in the Realmuto trade.

Sixers Give Up On Markelle Fultz, Trade Former No. 1 Pick
Fultz is a 6-foot-4 guard has played just 19 games for the Sixers this season after suffering a mysterious shoulder injury. Both present much more immediate value than Fultz - his current value, sitting on the bench in street clothes, is zero.

Antetokounmpo keeps Bucks rolling on road
He reached 30 points on a put-back layup with about nine minutes left while getting fouled to give Milwaukee a 93-74 lead. The Bucks shot 42.2 percent from the floor while limiting the Nets to a season-low 32.4 percent shooting.

Saudi Arabia ‘deliberately undermined Khashoggi probe’
Turkey wants Saudi Arabia to extradite those accused of carrying out the murder to be tried in Turkish courts. In the report, the rapporteur will present a series of recommendations, which are not binding.

Memphis moves, Mirotic dealt, Ingles has two coffees
The Raptors are sending Jonas Valanciunas , Delon Wright , CJ Miles and a 2024 second-round pick to Memphis in exchange. Gasol is 7-foot-1 and averaging 15.7 points and 8.6 rebounds in 53 games this season.

Pelicans Trade Nikola Mirotic to Bucks for Jason Smith, Stanley Johnson
Mirotic should fit in well with a Bucks team that is taking 37.6 3-pointers per game on the season, the second-most in the league. He appeared in six games with Milwaukee and averaged 2.2 points and 1.8 rebounds in 6.7 minutes per contest.

Melbourne Cup winning trainer Darren Weir banned
Bowman, along with fellow RAD Board judges Joshua Bernstein and Brian Forrest, then retired to consider the penalty submissions. Weir could not offer an explanation on their discovery.

Wayne Rooney sends message to Man United about Mauricio Pochettino
Former Manchester United striker Rooney believes the Argentinian is a great option if Manchester United decline to appoint Solskjaer.

Newport goalie's Day made as he sprints off pitch for twins' birth
It was men against boys. "Give them credit , they were fantastic tonight and they deserve their win". Such a hard skill to connect with a moving ball that sweetly on such a drenched pitch.