General Motors beats by $0.08, beats on revs; guides FY24 EPS above consensus (35.39)
- Reports Q4 (Dec) earnings of $1.24 per share, excluding non-recurring items, $0.08 better than the FactSet Consensus of $1.16; revenues fell 0.3% year/year to $42.98 bln vs the $38.81 bln FactSet Consensus.
- EBIT-adjusted of $1.76 bln.
- Automotive operating cash flow of $1.3 bln.
- Co issues upside guidance for FY24, sees EPS of $8.50-$9.50 vs. $7.75 FactSet Consensus. Sees EBIT-adj of $12-$14 bln and Adj. Auto free cash flow of $8-$10 bln. Expects Market share gains primarily from higher EV penetration driving revenue growth.