GM's second quarter net profit of $2.8 billion will raise its full year profit forecast

Netease automotive industry 2021-08-06 09:11:49 阅读数:985

gm second quarter profit billion

8 month 4 Japan , General Motors officially released its second quarter financial results . Thanks to the increased market share of full-size pickup trucks in the United States and the continued strength of its financial business , GM's second quarter financial performance was strong . Based on the excellent performance in the first half of the year and the positive trend in the second half of the year , GM raised its full year profit forecast .

say concretely , GM achieved... In the second quarter 342 Billion beauty element Net revenue , Compared to the same period last year 168 $billion, more than doubled ( The year-on-year increase was 103.6%); The net profit reached 28 Billion dollars , Compared to the same period last year 7.58 The loss of US $100 million has improved significantly ; Adjusted EBIT amounted to 41 Billion dollars , And the same period last year lost money 5.36 Billion dollars ; Net profit margin reaches 8.3%, Adjusted EBIT margin of 12.0%. General disclosure , about 13 $billion in warranty recall costs dragged down second quarter earnings , among 8 Billion dollars and Chevrolet Bolt EV Recall related .

It is worth mentioning that , GM performed particularly well in North America in the second quarter , Adjusted EBIT in the North American market amounted to 29 Billion dollars , And the same period last year lost money 1.01 Billion dollars ; The adjusted EBIT margin is 10.4%. EBIT break even after adjustment in the international market , The return on investment in the Chinese market reached 3 Billion dollars . in addition , GM's pre tax profit from its financial business amounted to 16 Billion dollars .

GM CFO Paul Jacobson Express ,“ The strong demand of consumers and the strong performance of general finance business are the main reasons for the increase of the company's profits . Remove the chip shortage , The year actually went quite well , I think we have met all our initial expectations . let me put it another way , If there is no chip shortage , Our performance could have been better .”

For all that , GM's performance still failed to satisfy Wall Street ,8 month 4 Japan , Its share price fell 8.9%, Closed at 52.72 dollar .

Based on the results of the second quarter , GM expects full year diluted earnings per share to be in 5.22 USD to 6.72 Between US dollars , Adjusted diluted earnings per share are expected to be in 5.50 USD to 7.00 Between US dollars ; The annual net profit is expected to be 84 Million to 99 Between us $100 million , Adjusted EBIT is expected to be in 125 Million to 145 Between us $100 million .

GM expects , The negative impact of various adverse factors in the second half of this year is about 35 Million to 45 Billion dollars , These include rising commodity costs 15 Million to 20 Billion dollars , And the profitability of the financial sector will decline . In addition, compared with the first half of the year , GM expects its car production in North America to decrease by about... In the second half of this year 10 Thousands of cars .

About the chip shortage , GM had expected to reduce 15 Million to 20 $100 million profit , The company did not update this forecast at the second quarter earnings meeting , It only means that environmental changes and better than expected profits will help offset this negative impact . But GM also said , The shortage of chips will continue to have an impact in the second half of the year , And it will last until 2022 year . therefore , The company is studying long-term solutions to reduce supply chain risk , Such as further cooperation with semiconductor manufacturers .

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