General Motors Third Quarter 2024 Earnings: Beats Expectations

General Motors (NYSE:GM) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$48.8b (up 11% from 3Q 2023).
• Net income: US$3.03b (flat on 3Q 2023).
• Profit margin: 6.2% (down from 6.9% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$2.71.

All figures shown in the chart above are for the trailing 12 month (TTM) period

General Motors Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) also surpassed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in the US.

Performance of the American Auto industry.

The company's shares are up 12% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for General Motors that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.