Global automobile sector behemoths, General Motors (GM – Free Report), Ford Motors (F – Free Report), Honda Motor Corporation (HMC – Free Report) and Toyota Motors (TM – Free Report) released their quarterly earnings.
General Motors
Shares of General Motors Company were up 2.9% at market close on Oct 25, 2017, as it surpassed the Zacks Consensus Estimate on both earnings and revenue.
Earnings Discussion
General Motors reported non-GAAP earnings per share (EPS) of $1.32 for the third quarter of 2017, beating the Zacks Consensus Estimate of $1.07 but decreasing 2.3% year over year. Moreover, revenues of $33.623 billion beat the consensus mark of $31.597 billion. The company reported a 21.5% year-over-year decline in third-quarter 2017 revenues.
Revenue Performance
GM North America automotive revenues decreased to $24.819 billion from $31.085 billion in the year-ago quarter.
GM International Operations automotive revenues decreased to $3.007 billion from $3.376 billion in the year-ago quarter.
GM South America automotive revenues increased to $2.569 billion from $2.029 billion in the year-ago quarter.
Corporate automotive revenues increased to $80 million from $40 million in the year-ago quarter.
GM Financial Company revenues increased to $3.161 billion from $2.360 billion in the year-ago quarter.
Total unit sales decreased to 1.083 million units from 1.343 million in the year-ago quarter.
Ford
Shares of Ford Motors were up 1.9% at market close on Oct 26, 2017, as it surpassed the Zacks Consensus Estimate on both earnings and revenues.
Earnings Discussion
Ford reported non-GAAP earnings per share of $0.43, increasing 65.4% year over year. Also, it beat the Zacks Consensus Estimate of $0.33 for third-quarter 2017. Moreover, automotive revenues of $33.646 billion surpassed the consensus mark of $32.920 billion. The company reported a 0.94% increase in quarterly revenues year over year.
