General Motors Co. reported a revenue of $32.5 billion in Q121, down from $32.7 billion in the same quarter of 2020, according to the company’s press release. The company remains confident in its FY21 guidance as it deals with the semiconductor shortage impacting automakers across the world.
GM’s net income in Q121 was $3.0 billion, up from $0.3 billion in Q120.
Diluted EPS was $2.03, up from $0.17 in Q120.
North America adjusted EBIT was $3.1 billion, up from $2.2 billion in Q120.
International adjusted EBIT was $0.3 billion, up from a loss of $0.6 billion in Q120.
GM adjusted financial EBT was $1.2 billion, up from $0.2 billion in Q120.
GM expects FY21 diluted EPS of between $4.28-$5.03 and adjusted diluted EPS of between $4.50-$5.25.
The company expects FY21 net income to range $6.8 billion-$7.6 billion and adjusted EBIT of between $10 billion-$11 billion.
GM projects net income for the six months ending June 30, 2021 to be $3.5 billion and adjusted EBIT of $5.5 billion.
General Motors stock is currently gaining. GM: NYSE is up 2.20%
