--> GM +1.69% in pre market
General Motors beats by $0.19, beats on revs; reaffirms FY16 EPS guidance, raised last month
- Reports Q4 (Dec) earnings of $1.39 per share, excluding non-recurring items, $0.19 better than the Capital IQ Consensus of $1.20; revenues were unchanged from the year-ago period at $39.6 bln. Holding exchange rates constant, net revenue during the fourth quarter was $2.4 billion higher than the fourth quarter of 2014.
- EBIT-adjusted was a record $2.8 billion and EBIT-adjusted margin was 7.0 percent in the fourth quarter of 2015, compared to EBIT-adjusted of $2.4 billion and EBIT-adjusted margin of 6.1 percent in the fourth quarter of 2014.
- GM North America (GMNA) reported EBIT-adjusted of $2.8 billion in the fourth quarter of 2015 compared to $2.2 billion in 2014.
- US January sales out yesterday were up 0.5%
- Co reaffirms guidance for FY16, sees EPS of $5.25-5.75, excluding non-recurring items, vs. $5.43 Capital IQ Consensus Estimate.
- Note co raised FY16 EPS, calling for improved EBIT, margin, adj. auto FCF on Jan 13