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GM Beats Q2 Forecast with Nearly $1.2 Bil Net Income

EBIT-adjusted earnings are best for any quarter since 2009 bankruptcy.

by on Jul.23, 2015

General Motors CEO Mary Barra remains upbeat about the coming months despite problems in China.

Despite being hit with a $1.1 billion special charge, General Motors managed to deliver a second-quarter profit of nearly $1.2 billion, or $0.67 a share – its biggest three-month profit since emerging from bankruptcy in July 2009 – with strong demand for its North American trucks helping fuel the strong performance.

Factoring in one-time charges equal to $0.62 a share, GM handily outperformed the Wall Street consensus forecast of $1.08 per share. And the second-quarter numbers compared with the modest $190 million, or $0.11, GM reported for the April-June 2014 numbers.

We Earn Your Trust!

“The first two quarters of the year were strong as we fully capitalized on a robust North American industry and maintained our strength in China, despite the challenging conditions in that market,” GM CEO Mary Barra said in a statement. “We said our goal was to improve our earnings and margins this year, and we are on plan.

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