GM delivers positive 2025 profit outlook
01/28/2025 07:36 AM
General Motors (GM) delivered its positive 2025 profit outlook after reporting earnings that beat Wall Street estimates.
The legacy automaker reported a full-year 2024 net income attributable to shareholders of $6.0 billion and EBIT-Adjusted of $14.9 billion. For Q4 2024, GM reported a net income loss of $3.0 billion, and EBIT-adjusted was $2.5 billion.
The automaker’s net income in the fourth quarter of last year was reduced by over $5 billion in special charges. The special charges include $4 billion of non-cash restructuring charges and impairment of interest in China Joint Ventures. GM also decided to stop funding its Cruise robotaxi business, resulting in $0.5 billion in charges.
General Motors isn’t too worried about Trump’s policy changes and how they might affect US automakers.
“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.”
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