General Motors today reported full-year 2024 net income attributable to shareholders of $6.0 billion and EBIT-adjusted of $14.9 billion. Fourth-quarter 2024 net income attributable to shareholders was a loss of $3.0 billion and EBIT-adjusted was $2.5 billion.

Fourth quarter net income was reduced by more than $5 billion in special charges driven primarily by $4 billion of non-cash restructuring charges and impairment of our interests in certain China Joint Ventures, and $0.5 billion in charges related to the decision to stop funding the Cruise robotaxi business.

The chart below summarizes GM’s 2024 financial guidance and 2024 results, as well as the company’s 2025 guidance, which is for a year of strong financial performance.

Final 2024 Guidance 2024 Results 2025 Guidance Net income attributable to stockholders $10.4 billion – $11.1 billion $6.0 billion $11.2 billion – $12.5 billion EBIT-adjusted $14.0 billion – $15.0 billion $14.9 billion $13.7 billion – $15.7 billion Automotive operating cash flow $22.0 billion – $24.0 billion $23.9 billion $21.0 billion – $24.0 billion Adjusted automotive free cash flow $12.5 billion – $13.5 billion $14.0 billion $11.0 billion – $13.0 billion EPS-diluted $9.14 – $9.64 $6.37 $11.00 – $12.00 EPS-diluted-adjusted $10.00 – $10.50 $10.60 $11.00 – $12.00

GM’s 2025 financial guidance assumes a stable policy environment in North America and an estimated benefit of $0.5 billion from reduced year-over-year expenses at Cruise. The financial guidance also includes anticipated capital spending of $10.0 billion – $11.0 billion, inclusive of investments in the company’s battery cell manufacturing joint ventures.

Results Overview Three Months Ended $M except per share amounts  2024 2023 Change % Change Revenue $47,702 $42,980 $4,722 11.0 % Net income (loss) attributable to stockholders $(2,961) $2,102 $(5,063) n.m. EBIT-adjusted $2,509 $1,757 $752 42.8 % Net income margin (6.2) % 4.9 % (11.1) ppts n.m. EBIT-adjusted margin 5.3 % 4.1 % 1.2 ppts 29.3 % Automotive operating cash flow $4,765 $4,688 $77 1.6 % Adjusted automotive free cash flow $1,823 $1,341 $482 35.9 % EPS-diluted(a) $(1.64) $1.59 $(3.23) n.m. EPS-diluted-adjusted(a) $1.92 $1.24 $0.68 54.8 % GMNA EBIT-adjusted $2,274 $2,011 $263 13.1 % GMNA EBIT-adjusted margin 5.8 % 5.7 % 0.1 ppts 1.8 % GMI EBIT-adjusted $221 $269 $(48) (17.8) %   equity income $(4,060) $93 $(4,153) n.m. GM Financial EBT-adjusted $ 719 $ 707 $12 1.7 %

(a) EPS-diluted and EPS-diluted-adjusted include a $0.02 and $(0.05) impact from revaluation on equity investments in the three months ended   and 2023.
(b) n.m. = not meaningful

Years Ended $M except per share amounts  2024 2023 Change % Change Revenue $187,442 $171,842 $15,600 9.1 % Net income attributable to stockholders $6,008 $10,127 $(4,119) (40.7) % EBIT-adjusted $14,934 $12,357 $2,577 20.9 % Net income margin 3.2 % 5.9 % (2.7) ppts (45.8) % EBIT-adjusted margin 8.0 % 7.2 % 0.8 ppts 11.1 % Automotive operating cash flow $23,939 $20,828 $3,111 14.9 % Adjusted automotive free cash flow $14,045 $11,666 $2,379 20.4 % EPS-diluted(a) $6.37 $7.32 $(0.95) (13.0) % EPS-diluted-adjusted(a) $10.60 $7.68 $2.92 38.0 % GMNA EBIT-adjusted $14,528 $12,306 $2,222 18.1 % GMNA EBIT-adjusted margin 9.2 % 8.7 % 0.5 ppts 5.7 % GMI EBIT-adjusted $303 $1,210 $(907) (75.0) %   equity income $(4,407) $446 $(4,853) n.m. GM Financial EBT-adjusted $2,965 $2,985 $(20) (0.7) %

(a)EPS-diluted and EPS-diluted-adjusted include a $(0.11) and $(0.10) impact from revaluation on equity investments in the years ended   and 2023.
(b)n.m. = not meaningful

Please click here to view the full press release.

SOURCE: GM