General Motors (GM) Falls Following Q3 Results On Muted Outlook
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General Motors (NYSE: GM) is trading down 4.5 percent following Q3 earnings and outlook this morning.
The company reported Q3 EPS of $1.03, $0.07 better than the analyst estimate of $0.96. Revenue for the quarter came in at $36.72 billion versus the consensus estimate of $36.66 billion.
Based on current industry outlook, the company expects EBIT-adjusted results in the fourth quarter of 2011 will be similar to the fourth quarter of 2010 as a result of seasonal trends in North America and weakness in Europe. GM also expects to record a special item in the fourth quarter to recognize a $800 million non-cash settlement gain related to a Canadian Health Care Trust settlement.
The company reported Q3 EPS of $1.03, $0.07 better than the analyst estimate of $0.96. Revenue for the quarter came in at $36.72 billion versus the consensus estimate of $36.66 billion.
Based on current industry outlook, the company expects EBIT-adjusted results in the fourth quarter of 2011 will be similar to the fourth quarter of 2010 as a result of seasonal trends in North America and weakness in Europe. GM also expects to record a special item in the fourth quarter to recognize a $800 million non-cash settlement gain related to a Canadian Health Care Trust settlement.
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