General Motors Company GM reported first-quarter 2018 adjusted earnings per share of $1.43, down 18.3% from the prior-year quarter. However, the bottom line comfortably beat the Zacks Consensus Estimate of $1.22. General Motors’ crossover sales in first-quarter 2018 rose 23% on a year-over-year basis.
General Motors reported revenues of $36.1 billion, reflecting a decline of 3.1% from the year-ago quarter. However, revenues surpassed the Zacks Consensus Estimate of $34.1 billion.
During the reported quarter, total sales for the wholesale unit declined to 1.16 million from 1.24 million in the first quarter of 2017. Worldwide retail-unit sales decreased to 2.10 million from 2.34 million in the year-ago quarter. The automaker’s global market share was 11.4% during the reported quarter, reflecting a decline from 11.6% in the year-ago quarter.
Segment Results
GM North America (GMNA) generated net sales and revenues of $27.8 billion during the first quarter of 2018, down from $29.3 billion recorded in first-quarter 2017.
GM International (GMI) net sales and revenues were $4.8 billion, declining from $5.14 billion in the year-ago quarter.
GM Financial generated net sales and revenues of $3.41 billion during the quarter under review, reflecting an increase from $2.7 billion recorded in the year-ago quarter.
Financial Position
General Motors had cash and cash equivalents of $14.3 billion as of Mar 31, 2018, compared with $15.5 billion as of Dec 31, 2017.
First-quarter 2018, adjusted automotive free cash flow during the reported quarter was $3.5 billion versus $583 million recorded in the prior-year quarter.
Zacks Rank
General Motors carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space include Fox Factory Holding Corp. FOXF, Allison Transmission Holdings, Inc. ALSN and Honda Motor Co., Ltd. HMC, each carrying a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fox Factory Holding has expected long-term growth rate of 10.5%. In the past year, shares of the company have returned 14.2%.
Allison Transmission has expected long-term growth rate of 10%. In a year, shares of the company have advanced 0.7%.
Honda has an expected long-term growth rate of 4.8%. In a year, shares of the company have returned 19.2%.
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