General Motors: meets expectations in 2nd quarter
(CercleFinance.com) - General Motors posts adjusted earnings per share (non-GAAP) for continuing operations down 4.
2% to 1.81 dollars for the second quarter, although this EPS is in line with average estimates from analysts.
The Detroit-based automaker saw its adjusted operating profit plummet by 13.3% to 3.2 billion, reducing margins by 1.3 points to 8.7%, with revenues remaining more or less stable (-0.6%) at 36.8 billion dollars.
Citing rising costs in raw materials and negative exchange differences in Latin America, GM has reviewed its annual targets to aim for adjusted EPS of around six dollars and a free cash-flow in automobiles of approximately four billion.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2% to 1.81 dollars for the second quarter, although this EPS is in line with average estimates from analysts.
The Detroit-based automaker saw its adjusted operating profit plummet by 13.3% to 3.2 billion, reducing margins by 1.3 points to 8.7%, with revenues remaining more or less stable (-0.6%) at 36.8 billion dollars.
Citing rising costs in raw materials and negative exchange differences in Latin America, GM has reviewed its annual targets to aim for adjusted EPS of around six dollars and a free cash-flow in automobiles of approximately four billion.
Copyright (c) 2018 CercleFinance.com. All rights reserved.