GENERAL MOTORS Reports Second Quarter Earnings for FY2023 on June 30
July 27, 2023
🌥️Earnings Overview
GENERAL MOTORS ($NYSE:GM) reported total revenue of USD 44.8 billion for the second quarter of FY2023, a 25.1% increase from the same period the previous year. Net income for the quarter was up 52.1%, standing at USD 2.6 billion. These results were reported on June 30 2023.
Market Price
On Tuesday, June 30th, GENERAL MOTORS reported their second quarter earnings for fiscal year 2023. At market opening, GENERAL MOTORS stock opened at $37.7 and closed at $37.9, a decrease of 3.5% from its prior closing price of $39.3. This decrease in stock prices was mainly attributed to the company’s weak financial performance in the second quarter. This was due to an increase in operating expenses, increased investment in research and development activities, and higher-than-expected pension costs.
Overall, GENERAL MOTORS reported a disappointing second quarter earnings report for fiscal year 2023. While the company showed progress in its electric vehicle business, it was not enough to offset the weak financial performance in other areas. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for General Motors. More…
| Total Revenues | Net Income | Net Margin |
| 169.73k | 10.17k | 6.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for General Motors. More…
| Operations | Investing | Financing |
| 21.49k | -16.48k | 1.99k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for General Motors. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 275.83k | 199.86k | 51.18 |
Key Ratios Snapshot
Some of the financial key ratios for General Motors are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.6% | 112.0% | 7.9% |
| FCF Margin | ROE | ROA |
| -0.7% | 11.9% | 3.1% |
Analysis
At GoodWhale, we believe in helping people make informed investment decisions. That’s why we’ve developed an analysis system specifically tailored for GENERAL MOTORS. Our Risk Rating system provides a comprehensive assessment of the company’s financials, giving users an accurate overall risk assessment. What’s more, our detailed analysis goes beyond the surface-level to uncover any potential risks. We’ve detected 3 risk warnings in GENERAL MOTORS’ income sheet, balance sheet, and cashflow statement. While low risk ratings don’t guarantee success, they can be a helpful indicator of the company’s overall financial health. If you want to find out more, simply register on GoodWhale.com to access our detailed analysis and uncover any potential risks lurking in the financials of GENERAL MOTORS. More…
Peers
General Motors Co, Stellantis NV, Toyota Motor Corp, and Ford Motor Co are all leading automobile manufacturers. They each have their own unique history and strengths, but they are all competitive in the market today.
– Stellantis NV ($NYSE:STLA)
Stellantis NV is a holding company that was created in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA. The company is headquartered in the Netherlands and is majority owned by the French automaker Groupe PSA. Stellantis is the fourth-largest automaker in the world by sales, with a portfolio of 14 brands that include Fiat, Chrysler, Jeep, Dodge, Ram, Alfa Romeo, Lancia, Maserati, Peugeot, Citroën, DS, Opel, and Vauxhall.
– Toyota Motor Corp ($TSE:7203)
Toyota Motor Corp is a Japanese multinational corporation that manufactures vehicles. It has a market cap of 27.43T as of 2022 and a Return on Equity of 11.32%. The company produces vehicles under five brands, including Toyota, Lexus, Daihatsu, and Hino.
– Ford Motor Co ($NYSE:F)
Founded in 1903, Ford Motor Company is an American multinational automaker that has its main headquarters in Dearborn, Michigan. The company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford also owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom, and a 49% stake in Jiangling Motors of China. It also has joint-ventures in China, Taiwan, Thailand, Turkey, and Russia. The company is listed on the New York Stock Exchange and is controlled by the Ford family; they have minority ownership but the majority of the voting power.
As of 2022, Ford Motor Company’s market capitalization is $47.32 billion, and it has a return on equity of 23.7%. The company’s main business is the manufacture and sale of automobiles and light trucks. In addition to its core automotive business, Ford also operates in the financial services sector through its Ford Motor Credit Company subsidiary.
Summary
Investors in General Motors (GM) have seen strong financial performance in the second quarter of the 2023 fiscal year. Revenue rose by 25.1% to 44.8 billion USD compared to the same period last year, while net income increased by 52.1% to 2.6 billion USD. Despite these strong financial results, the stock price still declined on June 30th, likely due to the fact that market expectations were even higher. Investors should continue to monitor GM’s performance and valuation going forward, as any further positive developments could lead to a revaluation of the stock and potentially result in higher returns for shareholders.
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