GM Releases 2023 First-Quarter Results and Raises Full-Year Guidance
PR Newswire
DETROIT, April 25, 2023
DETROIT, April 25, 2023 /PRNewswire/ --
General Motors Co. (NYSE: GM) today reported first-quarter 2023 revenue of $40.0 billion, net income attributable to stockholders of $2.4 billion and EBIT-adjusted of $3.8 billion.
GM is also updating its full-year 2023 earnings guidance:
-- U.S. GAAP net income attributable to stockholders of $8.4 billion-$9.9 billion, compared to the previous outlook of $8.7 billion-$10.1 billion, including $0.9 billion of charges related to the voluntary separation program -- EBIT-adjusted of $11.0 billion-$13.0 billion, compared to the previous outlook of $10.5 billion-$12.5 billion -- U.S. GAAP net automotive cash provided by operating activities of $16.5 billion-$20.5 billion, compared to the previous outlook of $16.0 billion-$20.0 billion -- Adjusted automotive free cash flow of $5.5 billion-$7.5 billion, compared to the previous outlook of $5.0 billion-$7.0 billion
See below for reconciliations of non-GAAP measures to their most directly comparable GAAP measures or visit the GM Investor Relations website for complete details.
Downloads
-- -- GM Chair and CEO Mary Barra's letter to shareholders -- -- Earnings deck -- -- Detailed quarterly results with year-over-year comparisons
Conference Call for Investors and Analysts
GM Chair and CEO Mary Barra and GM Chief Financial Officer Paul Jacobson will host a conference call for the investment community at 8:30 a.m. ET today to discuss these results. Those who wish to listen to the call may dial in using the following numbers and passcode:
-- United States: 1-800-857-9821 -- International: +1-517-308-9481 -- Conference call passcode: General Motors