GM Q2 Results Down, Yet Beat Market; Backs FY25 View; Shares Hit

General Motors

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(RTTNews) - Automajor General Motors Co. on Tuesday maintained its fiscal 2025 earnings outlook, after reporting weak profit and revenues in its second quarter. However, adjusted earnings and top line beat market estimates.

In the pre-market activity on the NYSE, General Motors shares were losing around 3.7 percent to trade at $51.30.

For fiscal 2025, GM continues to expect net income attributable to stockholders between $7.7 billion and $9.5 billion, earnings per share of $8.22 to $9.97, adjusted earnings per share of $8.25 to $10.00, and adjusted EBIT between $10 billion and $12.5 billion.

Analysts on average expect the company to earn $9.25 per share for the year. Analysts' estimates typically exclude special items.

In its second quarter, net income fell 35.4 percent to $1.90 billion from last year's $2.93 billion. Earnings per share were $1.91, down 25.1 percent from $2.55 per share, last year.

Adjusted earnings were $2.464 billion or $2.53 per share for the period, compared to $3.06 per share last year. Analysts had expected the company to earn $2.48 per share.

EBIT-adjusted dropped 31.6 percent to $3.04 billion from last year's $4.44 billion, and EBIT-adjusted margin fell 2.9 percentage points year-over-year to 6.4 percent.

The company's revenue for the period fell 1.8 percent to $47.12 billion from $47.97 billion last year. The Street was looking for revenues of $46 billion for the quarter.

Automotive sales declined to $42.87 billion from prior year's $44.06 billion.

Total vehicle sales in the quarter fell to 974 thousand units from 1.04 million units a year ago.

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