General Motors (NYSE:GM) exceeded Wall Street's expectations for the first quarter of 2024, leading to a rise in its stock price by 4% intra-day today. The company reported an adjusted EPS of $2.62, beating the analyst prediction of $2.12, and posted revenues of $43.01 billion, which surpassed the anticipated $40.67 billion and reflected an 8% increase year-over-year. Notably, the company also reported a 21% year-over-year rise in retail deliveries for its electric vehicle (EV) portfolio.

General Motors' CEO Mary Barra underscored the firm's performance, noting robust growth in total company revenue, strong EBIT margins in North America, stable pricing, and a gain in retail market share with relatively lower incentives compared to the industry average. In response to these results, GM updated its full-year 2024 EPS guidance to between $9.00 and $10.00, up from an earlier range of $8.50 to $9.50, compared to the analyst consensus of $9.08. The automaker also plans capital expenditures of $10.5 billion to $11.5 billion for the year, including investments in battery cell manufacturing joint ventures.

General Motors (GM:NYSE) recently celebrated its 32nd annual Supplier of the Year awards ceremony in Miami, Florida, where HARMAN, a subsidiary of Samsung Electronics Co., Ltd., was honored with the 2023 Supplier of the Year title. This recognition is not new to HARMAN, as it marks their third time receiving this prestigious award. The award is a testament to HARMAN's exceptional contribution to the automotive industry, particularly through innovative technologies and maintaining the highest quality standards. HARMAN's achievements, including their award-winning AKG sound systems in Cadillac vehicles and their advancements in intelligent cockpit control products, underscore their pivotal role in enhancing GM's product offerings.

Christian Sobottka, President of HARMAN Automotive, took pride in this achievement, emphasizing the company's dedication to delivering superior consumer experiences. This commitment is reflected in HARMAN's extensive portfolio, which features renowned brands such as AKG®, Harman Kardon®, and JBL®, among others. Their products are not only a testament to HARMAN's innovation but also to their significant impact on the automotive industry, with their systems being installed in over 50 million vehicles worldwide. This global presence is supported by a workforce of approximately 30,000 employees across various continents, further illustrating HARMAN's extensive influence and commitment to excellence in the automotive sector.

The selection criteria for the Supplier of the Year award by GM are rigorous, focusing on performance, innovation, and alignment with GM’s values and goals. Jeff Morrison, GM's vice president of Global Purchasing and Supply Chain, highlighted the importance of partnerships with leading suppliers like HARMAN in achieving GM's vision. These collaborations are crucial for GM, especially as the company progresses towards its ambitious all-electric future, powered by the Ultium battery platform. This platform is a cornerstone of GM's strategy, enabling a diverse range of vehicles from mass-market to high-performance models, across its various brands including Chevrolet, Buick, GMC, and Cadillac.

However, GM's recent financial performance presents a challenging backdrop to these achievements. The company has experienced a downturn in several key financial metrics, including a 2.61% decrease in revenue growth and a significant 60.08% drop in gross profit growth. More concerning is the 31.43% decline in net income growth and a 69.53% fall in operating income growth. These figures indicate substantial pressure on GM's profitability and operational efficiency. Additionally, the company's asset growth decreased by 3.07%, and there was a dramatic 671.76% decline in free cash flow growth, further highlighting the financial challenges GM faces. Despite these hurdles, GM's slight increase in debt growth by 3.18% suggests a strategic approach to managing its financial health and investing in future growth areas, such as its commitment to an all-electric future and partnerships with innovative suppliers like HARMAN.

General Motors (NYSE:GM) surpassed Q3 expectations while pulling its 2023 forecasts due to increasing costs from the UAW strike.

Q3 revenue increased by 5.4% to $44.131 billion, exceeding the predicted $42.62 billion. The adjusted EPS reached $2.28, beating the $1.88 Street estimate.

CEO Mary Barra addressed the ongoing strike, highlighting the wage and benefit adjustments in the U.S. post-COVID due to inflation and other factors. She stated that GM's current offer to the UAW is its most substantial ever, with the majority of their employees expected to earn around $84,000 annually by the agreement's conclusion.

General Motors (NYSE:GM) shares fell more than 6% since the company reported its Q1 results on Tuesday, with EPS and revenue beat being overshadowed by the H2/23 downshift and sequential price deterioration implied by the 2023 guidance.

Q1 EPS came in at $2.21, better than the Street estimate of $1.70. Revenue was $40 billion, compared to the Street estimate of $38.4 billion. For 2023, the company expects GAAP net income attributable to stockholders in the range of $8.4-$9.9 billion, down from the previous range of $8.7-$10.1 billion.

The implication is that 2024 EBIT could be lower year-over-year, fueling the fire of investors worried about peak Auto earnings. Though to be clear, management indicated so far through April pricing and demand are holding up.

General Motors (NYSE:GM) shares fell more than 6% since the company reported its Q1 results on Tuesday, with EPS and revenue beat being overshadowed by the H2/23 downshift and sequential price deterioration implied by the 2023 guidance.

Q1 EPS came in at $2.21, better than the Street estimate of $1.70. Revenue was $40 billion, compared to the Street estimate of $38.4 billion. For 2023, the company expects GAAP net income attributable to stockholders in the range of $8.4-$9.9 billion, down from the previous range of $8.7-$10.1 billion.

The implication is that 2024 EBIT could be lower year-over-year, fueling the fire of investors worried about peak Auto earnings. Though to be clear, management indicated so far through April pricing and demand are holding up.

General Motors (NYSE:GM) shares rose more than 6% since the company’s reported Q3 results yesterday morning, with EPS of $2.25 coming in better than the Street estimate of $1.89. Revenue was $41.89 billion, better than the Street estimate of $41.72 billion.

According to the analysts at Deutsche Bank, the company’s solid Q3 beat leaves it on track to reach the mid-point of its reiterated full-year EBIT guidance of $13-$15 billion. Even though the quarter benefitted from the company delivering approximately 75% of the previously work-in-progress inventory which was a high-margin truck mix (vs 50% guided previously), the analysts mentioned that some of the outperformance also came from other parts of the business.

The company expects full 2022-year EPS to be in the range of $6.50-$7.50, compared to the Street estimate of $6.79.