General Motors’ first quarter 2017 earnings were highlighted by a 10.6 percent increase in revenue to $41.2 billion and a 33.5. percent increase in net income to $2.6 billion when compared to the first quarter of 2016.
The automaker reported several first quarter records, including:
- Revenue of $41.2 billion, up 10.6 percent
- EBIT-adjusted of $3.4 billion, up 27.9 percent
- EBIT-adjusted margin of 8.2 percent, up 1.1 points
- EPS-diluted-adjusted of $1.70, up 34.9 percent
- North America EBIT-adjusted of $3.4 billion, up 48.8 percent
- North America revenue of $29.3 billion, up 10.7 percent
In addition, GM Financial’s net revenue of $2.9 billion, up 38.7 percent, set an all-time record.
Net revenue for Q1 2017 came in at $41.2 billion, an increase of 10.6 percent compared to $37.3 billion for the first quarter of 2016.
Net income attributable to common shareholders for Q1 2017 was $2.6 billion, a substantial increase of 33.5 percent over $2.00 billion in the first quarter of 2016.
Earnings Before Interest And Tax (EBIT) And EBIT-Adjusted Margin
The company reported earnings before interest and tax (EBIT) adjusted of $3.4 billion and EBIT-adjusted margin of 8.2 percent for the first quarter of 2017. These represent increases of 27.9 percent and 1.1 percent, respectively, compared to $2.7 billion and 7.10 percent.
Earnings Per Share
Earnings per share diluted was $1.7 per share in the first quarter of 2017, an increase of 37.1 percent compared to the first quarter 2016.
Cash Flow And Liquidity
In Q1 2017, net cash from automotive operating activities was $1.4 billion, up $2.0 billion from Q1 2016.
Q1 2017 adjusted automotive free cash flow was negative $0.6 billion, an improvement of $0.8 billion from Q1 2016.
Return On Invested Capital (ROIC)
Return On Invested Capital (ROIC) was 29.7 percent in Q1 2017, up from 28.5 percent in Q1 2016.
Global Vehicle Deliveries
GM sold 2.344 million vehicles globally in the first quarter of 2017, down slightly from the 2.378 million in the first quarter of 2016. The performance gives the automaker a global market share of 10.4 percent, down from the 10.6 percent in Q1 2016.
Regional Division Results
- GM North America Q1 2017 performance included a net income of $3.4 billion, up 48 percent compared to $2.298 billion in Q1 2016
- GM Europe Q1 2017 performance included a net income of negative $201 million, up from a negative $6 million in Q1 2016. Last month, GM agreed to sell its European Opel-Vauxhall unit to PSA Group.
- GM International Operations Q1 2017 performance included a net income of $319 million, down 15 percent compared to $379 million in Q1 2016
- GM South America Q1 2017 performance included a net income of negative $115 million, down 41.7 percent from a negative $67 million in Q1 2016
- GM Financial Q1 2017 performance included a net income of $260 million, up 15.5 percent from $225 million in Q1 2016