China restructuring hits GM 2024 profits, which beat Wall Street ...

Jan 28, 2025 · In 2025, GM expects adjusted earnings to be in a range of $11.2 billion to $12.5 billion. That doesn't include any impacts from potential tariff or tax policy changes, Jacobson said.

CouponFollow Extension

$11
OFF

China Restructuring Hits GM 2024 Profits, Which Beat Wall Street ...

2 weeks from now

Jan 28, 2025 · In 2025, GM expects adjusted earnings to be in a range of $11.2 billion to $12.5 billion. That doesn't include any impacts from potential tariff or tax policy changes, Jacobson said.

detroitnews.com

55%
OFF

GM's Q4 Profitability Dented By Hit From Cruise, China Restructuring

2 weeks from now

On an adjusted basis, which excludes the above charges and another $500M in special items, the automaker earned a profit of $1.92 per share, up 55% from a year ago and 8 cents better than …

msn.com

$2.96
OFF

General Motors Q4 Results: GM Posts $2.96 Billion Loss On China

2 weeks from now

Jan 28, 2025 · General Motors sold vehicles at an average price of $50,000 in 2024. Its revenue surged to $47.7 billion from $42.98 billion ... But still it topped profit and revenue estimates on …

livemint.com

$2.96
OFF

GM Reports Q4 Loss On Charges Related To China

2 weeks from now

Jan 28, 2025 · For the three months ended Dec. 31, 2024, GM lost $2.96 billion, or $1.64 per share. A year earlier the company earned $2.1 billion, $1.59 per share. Stripping out the …

ttnews.com

$5
OFF

General Motors Q4 Earnings: Revenue And EPS Beat, Takes $5 …

2 weeks from now

Jan 28, 2025 · General Motors reported a full-year 2024 net income of $6.0 billion and adjusted EBIT of $14.9 billion. The company exited the quarter with cash and equivalents worth …

benzinga.com

$5
OFF

GM Takes $5B Hit To Restructure Struggling China Ventures

2 weeks from now

Dec 4, 2024 · General Motors ... Despite this, GM expects its full-year net profit to range between $10.4 billion and $11.1 billion. ... Guangdong Province, China on Nov. 28, 2024. BYD is a …

newsweek.com

$11
OFF

Why GM Shares Drop Around Tariff Uncertainty, Despite Wall Street …

2 weeks from now

Jan 29, 2025 · GM guided between $11.2 billion and $12.5 billion in net income for 2025 after reporting a $6 billion profit last year that beat Wall Street expectations, but was hurt by special …

detroitnews.com

9%
OFF

GM Reports 2024 Pretax Profit Of $14.9 Billion On Strong Truck Sales

2 weeks from now

6 days ago · The full year in a snapshot. For all of 2024, GM's global revenue rose 9% to $187 billion. GM's annual net income slid 41% to $6 billion, compared with $10.1 billion in the year …

usatoday.com

$5
OFF

GM Expects More Than $5 Billion Impact From China Restructuring

2 weeks from now

Dec 4, 2024 · General Motors expects a restructuring of its joint venture operations with SAIC Motor in China to cost more than $5 billion in noncash charges and write-downs.

cnbc.com

$5
OFF

GM Announces More Than $5 Bn Hit To Earnings In China Venture

2 weeks from now

Dec 4, 2024 · New York (AFP) – General Motors announced Wednesday it will book more than $5 billion in losses and write-downs due to the restructuring of its China joint-venture. Issued on: …

france24.com

25%
OFF

GM Posts Quarterly Loss, Makes Plans For Potential Tariffs

2 weeks from now

Restructuring charges lead to $2.9 billion loss in fourth quarter; CEO says GM has ‘levers that we can pull’ if Trump imposes 25% tariffs

wsj.com

$2
OFF

GM Results And Forecast Top Wall Street Targets Thanks To Gas …

2 weeks from now

Jan 28, 2025 · GM reported pre-tax profit of $2.5 billion in the quarter but reported a $3 billion net loss, mostly because of $4 billion in restructuring charges in China where it lost $4.4 billion in …

cbc.ca

$47
OFF

General Motors Swings To Fourth Quarter Loss On Toughing China ...

2 weeks from now

Jan 28, 2025 · Revenue climbed to $47.7 billion from $42.98 billion, beating Wall Street’s estimate of $44.98 billion. In a letter to shareholders, CEO Mary Barra said that GM doubled its electric …

washingtontimes.com

$5
OFF

General Motors Takes $5 Billion Hit From Ailing China Business

2 weeks from now

Dec 4, 2024 · GM said it would take an impairment charge of up to $2.9 billion and expects additional equity losses of about $2.7 billion stemming from SAIC General Motors …

yahoo.com

$5
OFF

Losses In China Lead To $5 Billion Charge For General Motors As It …

2 weeks from now

Dec 4, 2024 · The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in …

marketbeat.com

$2
OFF

GM Aims To Be Profitable In China In 2025 - Automotive News

2 weeks from now

Jan 30, 2025 · China in the past delivered $2 billion a year in income for GM, though executives say those results won’t be matched anytime soon, if ever again, despite restructuring moves.

autonews.com

$5
OFF

GM To Take More Than $5 Billion In Charges On China Operations

2 weeks from now

Dec 4, 2024 · GM's China division, once a profit engine for the Detroit company, is now losing money. The company has struggled to compete with carmakers in China, the world's largest …

reuters.com

1%
OFF

GM Posts Quarterly Loss, Makes Plans For Potential Tariffs - MSN

2 weeks from now

GM projected pretax adjusted profit of $13.7 billion to $15.7 billion for 2025. Jacobson said the company assumes the net prices customers pay in the U.S. will decline about 1%.

msn.com

$1
OFF

GM Beats Wall Street Estimates, Forecasts Continued Strong Profit …

2 weeks from now

Jan 30, 2024 · GM's 2023 earnings included several special charges, including $1.1 billion in North American strike costs and $792 million for new commercial agreements.

cnbc.com

9%
OFF

Wall Street Turns Bullish On GM Post Q4 Earnings: Time To Buy?

2 weeks from now

3 days ago · General Motors’ full-year 2024 revenues grew 9% to roughly $187 billion. Revenues have grown at a CAGR of 10% since 2021. GM retained its title of the top-selling automaker in …

nasdaq.com

$4
OFF

GM Just Crushed Its Earnings Report, So Why Are Investors Fleeing?

2 weeks from now

6 days ago · The automaker reported a $4 billion non-cash expense related to the restructuring of its joint venture in China. GM’s focus on its North American business has shielded it from …

autoblog.com

FAQs about China restructuring hits GM 2024 profits, which beat Wall Street ... Coupon?

How much will GM charge for China joint venture loss?

Therefore, GM said in its filing it will record a charge of $2.6 billion to $2.9 billion for the loss in the value of its equity in the China joint venture. GM said it also expects the impact of the China joint ventures’ restructuring charges on equity earnings to be an additional $2.7 billion. ...

Why did GM take a hit in 2023?

GM took an earnings hit in 2023 beyond the strike: an $800 million charge to redo some contracts with battery supplier LG Energy and a $1.7 billion charge on its EV inventory related to losses expected on those vehicles. GM's lending arm, GM Financial, reported full-year revenue of $15.9 billion compared with $14.8 for 2023. ...

How much will GM restructure in the fourth quarter?

The Detroit automaker said in a regulatory filing Wednesday that it will cut the value of its equity stake in the ventures by $2.6 billion to $2.9 billion when it reports its results early next year. In addition, GM will take $2.7 billion worth of restructuring charges, most of it during the fourth quarter. ...

Will GM make a profit in 2023?

The ventures used to be a reliable source of equity income for the company, but have swung to losses in the past year. The ventures lost $347 million from January through September, compared with a profit of $353 million in the same period of 2023. Still, GM expects to post a full year net profit of $10.4 billion to $11.1 billion. ...

Will GM make a profit in China?

Still, GM expects to post a full year net profit of $10.4 billion to $11.1 billion. China has become an increasingly difficult market for foreign automakers, with BYD and other domestic companies raising their quality and reducing costs. The country also has subsidized domestic automakers. ...

Why did General Motors make a record profit in 2024?

General Motors generated record adjusted operating profit in 2024 on strong pricing and lower inventory, even as its net income took a hit from restructuring its China business. The carmaker earned an adjusted $14.9bn last year before interest and taxes, an increase of 21 per cent compared with 2023. ...