GM(GM)2025-04-29 11:30Financial Performance - General Motors reported Q1 2025 revenue of 43.0 billion in Q1 2024[4] - Net income attributable to stockholders decreased by 6.6% to 2.98 billion in the same quarter last year[4] - EBIT-adjusted for Q1 2025 was 3.87 billion in Q1 2024[4] - Automotive operating cash flow fell by 33.2% to 3.6 billion year-over-year[4] - Adjusted automotive free cash flow decreased by 25.6% to 1.09 billion in Q1 2024[4] - The company’s net income margin for Q1 2025 was 6.3%, down from 6.9% in Q1 2024, reflecting a 0.6 percentage point decline[4] - GMNA EBIT-adjusted margin decreased to 8.8% from 10.6% year-over-year, a decline of 1.8 percentage points[4] - Net income for the three months ended March 31, 2025, was 2,804 million for the same period in 2024, representing a decrease of 5.2%[20] - Net sales and revenue for the three months ended March 31, 2025, were 43,014 million in the same period of 2024, representing a growth of 2.3%[25] - EBIT-adjusted for the three months ended March 31, 2025, was 3,871 million in the same period of 2024, reflecting a decrease of 9.8%[39] - Net income attributable to stockholders for the three months ended March 31, 2025, was 2,980 million in 2024, a decline of 6.6%[39] Cash Flow and Investments - Cash flows from operating activities for Q1 2025 were 3,598 million in Q1 2024, reflecting a decline of 33.2%[20] - The company reported expenditures for property of 2,728 million in Q1 2024, indicating a reduction of 33.7%[20] - Net cash used in investing activities was 3,268 million in Q1 2024, showing a decrease of 25.2%[20] - The company reported a net cash provided by operating activities of 1,601 million in Q1 2024, indicating an increase of 17.2%[20] - The company reported a net cash used in financing activities of 1,444 million in the same period of 2024[24] Assets and Liabilities - Total current assets increased to 50,618 million at December 31, 2024, reflecting a growth of 2.3%[16] - Total non-current assets rose to 90,756 million, marking an increase of 1.8%[16] - Total assets reached 141,374 million, representing a growth of 2.3%[16] - Total liabilities increased to 214,171 million, a rise of 0.7%[16] - Total stockholders' equity stood at 65,590 million, indicating an increase of 1.3%[16] - Cash and cash equivalents amounted to 8,444 million, reflecting a growth of 42.5%[16] - GM Financial receivables, net, decreased to 46,760 million, a decline of 4.2%[16] - Inventories increased to 14,569 million, showing a growth of 4.7%[16] - Accounts payable decreased to 25,446 million, an increase of 6.7%[16] - Long-term debt for Automotive increased to 13,288 million, reflecting a rise of 1.1%[16] Market Performance - Total vehicle sales for Q1 2025 reached 1,449 thousand units, an increase from 1,348 thousand units in Q1 2024, marking a growth of 7.5%[54] - GM's market share in the U.S. increased to 17.2% in Q1 2025 from 15.4% in Q1 2024[54] - Wholesale vehicle sales in North America for Q1 2025 were 819 thousand units, up from 709 thousand units in Q1 2024, an increase of 15.5%[54] - Fleet sales accounted for 16.5% of total vehicle sales in Q1 2025, compared to 15.5% in Q1 2024[55] Strategic Focus - The company plans to update its full-year 2025 financial guidance in light of recent trade policy changes[2] - General Motors continues to focus on advancing technology for safer and lower emission vehicles, including a broad range of electric vehicles[6] - The company plans to continue its market expansion and product development strategies, particularly in electric vehicles, as indicated by the ongoing investments in joint ventures and technology[32] - The company’s adjusted automotive free cash flow is being monitored closely to ensure liquidity against substantial cash requirements in automotive operations[37] Earnings and Taxation - Diluted earnings per share (EPS) increased by 30.9% to 2.56 in the prior year[4] - The effective tax rate for Q1 2025 was 20.1%, slightly lower than 20.5% in Q1 2024[46] - The company’s effective tax rate for the three months ended March 31, 2025, was adjusted to reflect changes in income tax expense, which was 762 million in 2024[39] Other Financial Metrics - Return on equity (ROE) for the trailing four quarters ended March 31, 2025, was 8.6%, down from 15.1% for the same period in 2024[47] - GM's average equity for the four quarters ended March 31, 2025, was 71.1 billion in the prior year[47] - Equity income related to Ultium Cells Holdings LLC was 156 million in 2024, an increase of 54.4%[27]