General Motors Co. today reported third-quarter 2023 revenue of $44.1 billion, net income attributable to stockholders of $3.1 billion and EBIT-adjusted of $3.6 billion.
An overview of GM’s quarterly results and financial highlights appears below.
Results Overview
| Three Months Ended | |||||||||||||||||
| ($M) except where noted | September 30, 2023 | September 30, 2022 | Change | % Change | |||||||||||||
| Revenue | $ | 44,131 | $ | 41,889 | $ | 2,242 | 5.4 | % | |||||||||
| Net income attributable to stockholders | $ | 3,064 | $ | 3,305 | $ | (241) | (7.3) | % | |||||||||
| EBIT-adjusted | $ | 3,564 | $ | 4,287 | $ | (723) | (16.9) | % | |||||||||
| Net income margin | 6.9 | % | 7.9 | % | (1.0) ppts | (12.7) | % | ||||||||||
| EBIT-adjusted margin | 8.1 | % | 10.2 | % | (2.1) ppts | (20.6) | % | ||||||||||
| Automotive operating cash flow | $ | 6,794 | $ | 6,502 | $ | 292 | 4.5 | % | |||||||||
| Adjusted automotive free cash flow | $ | 4,910 | $ | 4,593 | $ | 317 | 6.9 | % | |||||||||
| EPS-diluted(a) | $ | 2.20 | $ | 2.25 | $ | (0.05) | (2.2) | % | |||||||||
| EPS-diluted-adjusted(a) | $ | 2.28 | $ | 2.25 | $ | 0.03 | 1.3 | % | |||||||||
| GMNA EBIT-adjusted | $ | 3,526 | $ | 3,894 | $ | (368) | (9.5) | % | |||||||||
| GMNA EBIT-adjusted margin | 9.8 | % | 11.2 | % | (1.4) ppts | (12.5) | % | ||||||||||
| GMI EBIT-adjusted | $ | 357 | $ | 334 | $ | 23 | 6.9 | % | |||||||||
| China equity income | $ | 192 | $ | 330 | $ | (138) | (41.8) | % | |||||||||
| GM Financial EBT-adjusted | $ | 741 | $ | 911 | $ | (170) | (18.7) | % | |||||||||
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SOURCE: General Motors
