GM talk-up 2023, North American margins at 10.3% Q4 (2022) and 10.1% (full year 2022)

[AlexB]

Q4 2022:

	Three Months Ended
($M) except where noted	December 31, 2022	December 31, 2021	Change	% Change
Revenue	$ 43,108	$ 33,584	$ 9,524	28.4 %
Net income attributable to stockholders	$ 1,999	$ 1,741	$ 258	14.8 %
EBIT-adjusted	$ 3,799	$ 2,839	$ 960	33.8 %
Net income margin	4.6 %	5.2 %	(0.6) ppts	(10.5) %
EBIT-adjusted margin	8.8 %	8.5 %	0.3 ppts	4.3 %
Automotive operating cash flow	$ 7,488	$ 9,384	$ (1,896)	(20.2) %
Adjusted automotive free cash flow	$ 4,460	$ 6,403	$ (1,943)	(30.3) %
EPS-diluted(a)	$ 1.39	$ 1.16	$ 0.23	19.8 %
EPS-diluted-adjusted(a)	$ 2.12	$ 1.35	$ 0.77	57.0 %
GMNA EBIT-adjusted	$ 3,654	$ 2,165	$ 1,489	68.8 %
GMNA EBIT-adjusted margin	10.3 %	8.1 %	2.2 ppts	27.2 %
GMI EBIT-adjusted	$ 272	$ 275	$ (3)	(1.1) %
China equity income	$ 201	$ 244	$ (43)	(17.6) %
GM Financial EBT-adjusted	$ 775	$ 1,1

GM Releases 2022 Fourth-Quarter and Full-Year Results, and 2023 Guidance

/PRNewswire/ -- General Motors Co. (NYSE: GM) today reported fourth-quarter 2022 revenue of $43.1 billion, net income attributable to stockholders of $2.0...

www.prnewswire.com

Where GM sees 2023

“The company expects its core auto operations to perform at a consistently strong level in 2023, with full-year net income attributable to stockholders of $8.7 billion-$10.1 billion, EBIT-adjusted of $10.5 billion-$12.5 billion, and EPS-diluted and EPS-diluted-adjusted of $6.00-$7.00.”

GM expects its sales volume to grow 5% to 10% this year but didn’t provide a revenue forecast. Chief Financial Officer Paul Jacobson said the rate of revenue growth would likely be below 2022 levels and that higher prices on vehicles would largely be offset by increased incentives spending.

“We do expect over time to increase from the record low levels we have seen” for incentive spending, Jacobson said, noting it’s been used to counter the impact of rising financing charges due to higher interest rates.”

“We’ve seen a very strong customer interest in our products,” Barra told analysts Tuesday on a conference call. “We think right now we’re priced where we need to be.”

GM Beats on Profit and Sales, Shrugs Off EV Price War Worry

(Bloomberg) -- General Motors Co. expects its earnings momentum to grow this year on higher output, shrugging off concerns that margins will be eroded by a price war for electric vehicles. Most Read from BloombergSony Slashes PlayStation VR2 Headset Output After Pre-Orders DisappointTrump Sues...

finance.yahoo.com