General Motors (GM): Strong Q4 Performance, EV Outlook Uncertain
Key Metrics
* Q4 revenue: $47.70 billion (11% YoY increase)
* Adjusted EPS: $1.92 (vs. $1.83 estimate)
* Adjusted EBIT: $2.50 billion (42.8% YoY increase)
* Full-year 2024 adjusted EBIT: $14.9 billion
Guidance and Challenges
* 2025 profit forecast: $13.7 billion to $15.7 billion
* Potential headwinds from tariffs and EV tax credit loss
* Modest decline in wholesale volumes and pricing expected
EV Business
* Doubled market share in 2024
* Variable profit positive in Q4
* 300,000 EV sales projected for 2025
* $2 billion to $4 billion earnings tailwind expected from EV business
China Operations
* Positive equity income in Q4 (excluding restructuring costs)
* Steps taken to improve performance
Manufacturing Footprint
* Sales of full-size pickups and SUVs propelled category wins
* Challenges ahead due to potential regulations from the White House