General Motors has announced third quarter 2016 earnings highlighted by a net income of $2.8 billion and earnings per share (EPS) diluted of $1.76 on net revenue of $42.8 billion. The performance was driven by robust retail sales in the United States, strong performance in China, growth in wholesale volume and effective cost performance.
The $2.8 billion in net income is up 104 percent over the $0.84 billion reported in the third quarter of 2015, earnings per share (EPS) diluted of $1.76 is up 110 percent over the $$0.84 reported in the third quarter of 2015, and net revenue of $42.8 billion is up 10.3 percent over the $38.8 billion in the third quarter of 2015, while ROIC-adjusted was 30.6 percent, up 4.6 percent. The revenue and ROIC figures represent records for the automaker.
More third quarter 2016 results include:
- EBIT-adjusted of $3.5 billion, up 14.4 percent
- EBIT-adjusted margin of 8.3 percent
- EPS diluted-adjusted of $1.72, up 14.7 percent
- North America EBIT-adjusted of $3.5 billion
- Adjusted automotive free-cash-flow of $3.5 billion, up $2.7 billion
GM will release more Q3 2016 earnings information in the next hour. Stay tuned to GM Authority as we updated this page with details about the quarter.