- EPS beat the street by $0.20/share - Revenue DOWN but only $0.4B. Analysts were foolishly expecting more.. - 10.0% profit margin - 12.2% profit margin in North America - 2nd best quarter EVER, financially - NO changes in 2017 estimates
The Fake media wouldn't report this, so I will "jeye"
On Friday, the Trump administration released their annual report to Congress on White House Office Personnel. It includes the name, status, salary and position title of all 377 White House employees. The report also said that Trump decided not to take a dime of his salary, insteadhe donated it to an amazing cause! (see below) .
The report also showed that President Trump is far better at saving money than Obama was. The total annual White House salaries under trump are $35.8 million vs. $40.9 under Obama, a savings of $5.1 million.
Here are some other key findings:
There are 110 fewer employees on White House staff under Trump than under Obama at this point in their respective presidencies. Nineteen fewer staffers are dedicated to The First Lady of the United States (FLOTUS). Currently, there are five staffers dedicated to Melania Trump vs. 24 staffers who served Michelle Obama (FY2009). ...
However, it’s what the report said Trump did with this salary that has everyone talking!
Instead of taking his salary, Trump donated all $400,000 to the Department of the Interior where it will be used for construction and repair needs at military cemeteries! AMAZING! It’s so great to have a President who loves our brave military men and women so much!
Oh, and where’s the media coverage of this? Oh that’s right, they don’t cover anything good that the President does.
GM repurchased 42 million shares in Q2.
Over a billion per month pre tax, in a past peak auto market.
Selling fewer cars to rental fleets hurts revenue, but not profits.
LOL GM going HIGHER
Andrew, Up over 1% now...
DETROIT, July 25, 2017 /PRNewswire/ -- General Motors Co. (GM) today announced strong second-quarter earnings and revenue from continuing operations driven by robust results in North America and China, solid improvement in South America and continued growth of GM Financial.
Second-quarter 2017 highlights: •EPS-diluted of $1.60, down 8 percent, and EPS diluted-adjusted of $1.89, up 5.6 percent •Consolidated EBIT-adjusted of $3.7 billion and EBIT-adjusted margin of 10.0 percent •North America EBIT-adjusted of $3.5 billion, and EBIT-adjusted margin of 12.2 percent, and •GM Financial EBT of $0.4 billion, up 67 percent.
Revenue was $37 billion, falling short of analyst estimates of $40.3 billion.
GM To Slash Six Car Models to Combat Slumping Sales, Avoid Plant Layoffs. I Just Don't Understand, Why Don't GM just Shut Down the Plant and Keep Paying the Plant Workers so they can go Fishing just like they have been Doing? Yes, GM will be having some Share Price Slippage come Monday MOURNING.
Hey Andrew - GM shares are now down only $0.15...
WOW GM should double from here
General Motors (NYSE:GM) reports consolidated EBIT-adjusted of $3.7B and EBIT-adjusted margin of 10.0%. The automaker says it recorded North America EBIT-adjusted of $3.5B and EBIT-adjusted margin of 12.2%. Global deliveries were flat during the quarter due to a strategic decision to back away from the daily rental market in North America. GM ended the quarter with global market share of 11.5%. GM says that its return on invested capital-adjusted of 30.4% is ahead of its target of 25%. GM CEO Mary Barra: "Disciplined and relentless focus on improving our business performance led to a strong quarter and very solid frst half of the year. We will continue transforming GM to capitalize on growth opportunities and deliver even more value for our shareholders." "jeye"
Andrew, GM shares are up over 2% in pre-market today at $36.60.
Just in case you were wondering...
I love my 2500 shares TSLA from $73 Osulin wanted a low PE dividend stock like GM and T
Contrary Is Smart
GM needs to market the Bolt much more effectively. It is a joke that they let Tesla hype themselves to a ridiculous market cap, when GM and others have the ability to more than compete. Problem is they just seem unable to market well.IMO Get up off you #$%$ GM and market the Bolt and hint at what is coming. EOS
cup and handle to $72
BUY AT WILL
So much for the 36.10 buy signal.
Did I read that right. Pomerantz filed a suit against GM because the price dropped 1.8% / $0.60? Man I'm in the wrong business.
I can tell you that GM market cap is definitely worth more than SLB.
Not A Short
The news that the Bolt inventories are a bit high is not that surprising. Not many will switch over to electrics for their main car when they represent a step backwards in utility. I suspect the Bolt will do well as a heavily used third car with the upper middle class, but it will struggle to gain acceptance with customers who have to use it exclusively.
Per your post here to IBD: "It will definitely go below 36 again after the disastrous earnings report"
I guess I'm really confused about 2 things here, or you might not be that bright. First, the "disastrous earnings report". AGAIN, why do you think it will be disastrous? Oh, you can't refer to the well-known $5.5B charge for the Opel sale because it's been known since late June: "In a briefing for analysts in late June, CFO Chuck Stevens said that GM will report Opel on a "discontinued operations" basis starting with the second quarter. GM will record a one-time charge of about $5.5 billion as a special item when the transaction closes, likely within a few weeks."
Also, since we're barely above $36 a share right now, going below $36 after the quarterly results wouldn't be a shock at all.
Second, as part of my "bet" proposal, you suggested that GM shares would fall below $35.