General Motor's Q2 Earnings: Revenue Beat, Hikes Annual Outlook But Faces Challenges In EVs And China
General Motor's Q2 Earnings: Revenue Beat, Hikes Annual Outlook But Faces Challenges In EVs And China
On Tuesday, General Motors Company (NYSE: GM) reported a fiscal second-quarter 2024 sales growth of 7.2% year-on-year to $47.97 billion, beating the analyst consensus estimate of $45.30 billion.
周二，通用汽车公司（纽交所：GM）报告2024 fiscal第二季度销售额同比增长7.2%，达到479.7亿美元，超出分析师预期的453亿美元。
The adjusted EPS of $3.06 beat the analyst consensus estimate of $2.72.
调整后的每股收益为3.06美元，超过分析师预期的2.72美元。
General Motors' market share reached 8.4% for the quarter, compared to 9.1% a year ago. In the U.S., the share changed to 16.6%, up from 16.4%. Its share in China reached 6.4%, down from 8.6% a year earlier.
通用汽车本季度的市场份额为8.4%，较去年同期的9.1%有所下降。在美国市场，份额从16.4%上升至16.6%。其在中国市场份额为6.4%，较去年同期的8.6%下降。
Adjusted EBIT for the quarter improved by 37.2% to $4.40 billion, with an adjusted EBIT margin of 9.3%, up by 210 bps. Net income margin was 6.1% versus 5.7% a year ago.
本季度调整后的利润增长了37.2%至44亿美元，调整后利润率为9.3%，较去年同期增长了210个基点。净利润率为6.1%，较去年同期的5.7%有所增加。
The company held $30.83 billion in cash and equivalents as of June 30, 2024. The adjusted automotive free cash flow was $5.3 billion.
截至2024年6月30日，通用汽车持有现金及等价物308.3亿美元。调整后的汽车自由现金流为53亿美元。
General Motors CFO Paul Jacobson told CNBC that the automaker expects to see some seasonally higher commodity costs and some pricing headwinds it assumed in the second half of the year.
通用汽车首席财务官保罗·雅各布森告诉CNBC automaker，它预计将看到一些季节性较高的商品成本和一些定价的逆风，这些都是它在下半年预计的。
General Motors told CNBC that it is pausing production of its Cruise Origin autonomous vehicle, leading to a $600 million special charge in the second quarter. It also shared its plans for a joint venture in China with SAIC, including a $104 million loss in equity income during the second quarter.
通用汽车告诉CNBC，它正在暂停Cruise Origin自动驾驶汽车的生产，导致第二季度特别费用为6000万美元。同时，它还分享了与上汽在中国的合资计划，包括第二季度股权收益损失10400万美元的计划。
Jacobson told CNBC that General Motors' North American operations, driven by truck sales for the company's second-quarter beat and guidance raise. At the same time, it failed to return to profitability in China.
雅各布森告诉CNBC，通用汽车北美业务推动了该公司第二季度的销售增长和指导加强。与此同时，它未能在中国实现盈利。
General Motors' electric vehicle deliveries during the quarter grew by 40% year over year to 21,930 units. However, EVs accounted for only 3.2% of its second-quarter U.S. sales.
通用汽车本季度的新能源车交付量同比增长40%，达到21930辆。然而，新能源车仅占其第二季度美国销售额的3.2%。
Jacobson reconfirmed to CNBC that General Motors expects its EVs to be profitable on a production or contribution-margin basis once it reaches 200,000 units by the fourth quarter.
雅各布森再次向CNBC确认，通用汽车预计在第四季度达到200,000辆的新能源车生产或贡献边际基础上实现盈利。
FY24 Guidance raise: General Motors projects adjusted EPS of $9.50 – $10.50 (prior $9.00 – $10.00) versus consensus of $9.72.
FY24指导加强：通用汽车预计调整后每股收益为9.50美元-10.50美元（之前为9.00美元-10.00美元），超过分析师预期的9.72美元。
The company projects adjusted automotive free cash flow of $9.5 billion—$11.5 billion (prior $8.5 billion—$10.5 billion) and reiterated capital spending of $10.5 billion—$11.5 billion.
该公司预计调整后的汽车自由现金流为95亿美元-115亿美元（之前为85亿美元-105亿美元），并重申了105亿美元-115亿美元的资本支出。
Despite slower-than-expected adoption, General Motors continues to target production and vehicle wholesales of 200,000 and 250,000 all-electric vehicles in North America.
尽管采用速度较慢，但通用汽车仍目标在北美生产和销售200,000辆和250,000辆全电动汽车。
Price Action: GM shares were trading higher by 2.70% at $50.90 premarket at the last check on Tuesday.
市盈率表现：周二最后一次交易时，通用汽车股价以2.70%的涨幅交易，报50.90美元/股。
Photo via Shutterstock
图片来自shutterstock。