General Motors Co. today said it expects its 2017 earnings per share diluted-adjusted to increase to $6 to $6.50, up from its 2016 calendar-year outlook of $5.50 to $6.
In 2017, the company also expects to maintain or improve EBIT-adjusted and EBIT-adjusted margin on higher revenues, compared to 2016, and generate about $6 billion of automotive-adjusted free cash flow.
Based on this strong outlook, the GM Board of Directors approved an additional $5 billion in common stock repurchases under its existing share repurchase program, which was announced March 9, 2015. The new authorization, which has no expiration date, brings the total under the program to $14 billion. (more…)