General Motors Posts Q4 Loss Amid Chinese Woes, Beats Expectations
Fourth-Quarter Performance
* Net loss of $2.96 billion, or $1.64 per share
* Adjusted earnings of $1.92 per share, exceeding consensus estimate
* Revenue of $47.7 billion, surpassing Wall Street forecast
China Challenges
* Massive charges related to China's joint ventures impacted quarterly results
* Chinese market has become competitive due to rising quality and lower costs of domestic automakers
Global Performance
* Increased electric vehicle market share in 2024
* Positive equity income from China before restructuring costs
* Plans to improve operations with Chinese partner
New Product Launches
* Cadillac to introduce three new electric vehicles (Escalade IQ, Optiq, Vistiq)
* Full impact of new gas-powered SUVs (Equinox, Traverse, Acadia) to be realized in 2025
Outlook
* Anticipated adjusted earnings range of $11-$12 per share for 2025
* Analyst consensus estimate for full-year earnings: $10.86 per share
* Confidence in diversified product portfolio and efficiency measures