GM said it expects full-year net income attributable to stockholders for the year ending December 31, 2024 of $10.4 billion to $11.1 billion, and EBIT-adjusted of $14.0 billion to $15.0 billion.

1. 01

   GM said it expects full-year net income attributable to stockholders for the year ending December 31, 2024 of $10.4 billion to $11.1 billion, and EBIT-adjusted of $14.0 billion to $15.0 billion.

2. 02

   The company said the carrying amounts of its investments in the Automotive China JVs and GM Financial China JVs subject to restructuring actions are $4.4 billion and $1.6 billion, respectively, as of September 30, 2024, and that it expects an updated business plan in Q4. It explained that if it concludes the loss in value is other than temporary, it may have to record a material, non-cash impairment charge in Q4.

3. 03

   The company said the decrease in Cost for Q3 2024 was mainly due to a drop in EV-related inventory adjustments of $0.6 billion and lower engineering costs of $0.3 billion. It said campaign and other warranty-related costs rose by $0.7 billion.

4. 04

   GM said Cruise AVs returned to public roads for manual driving operations in April 2024, and that Cruise later resumed limited driverless testing in Houston. The Consent Order that Cruise and NHTSA executed in September 2024 imposes a $1.5 million fine and requires enhanced reporting for 2 years, the company said, and GM is neither a party nor a signatory to the agreement.

Key figures

Quarter ended September 30, 2024

Revenue

$44.7B

Operating income

$3.7B

Net income

$3.1B

EPS

$2.68

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.