The car manufacturer General Motors
GENERAL MOTORS
-4.37%
closure:0
opening:36.76
High:37.28
low:36.23
cycle:—
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published its financial reports for the fourth quarter of the year according to which it brought in $43.1 billion, compared to analysts’ expectations for revenues of $40.65 billion. In the entire year 2022, the company brought in 156.7 billion dollars.
General Motors records an adjusted profit of $2.12 per share, while the market expected an adjusted profit of $1.69 per share. The EBITDA in the quarter amounted to 3.8 billion dollars and in 2022 as a whole amounted to a record of 14.5 billion dollars.
The company expects its core automotive business to consistently strengthen in 2023, with full-year net income of $8.7-10.1 billion, EBITDA of $10.5-12.5 billion, and adjusted annual profit of $6-7.
General Motors also expects strong cash flows from automotive operations for the calendar year, including: cash from operating activities of $16-20 billion and free cash flow of $5-7 billion.
General Motors shares have fallen by 31% in the past year and are trading (before the opening of trading today) for $36.3 with a market value of $51.55 billion.
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