General Motors (GM) Tops Q2 EPS by 35c; Boosts FY16 EPS Outlook

General Motors (NYSE: GM) reported Q2 EPS of $1.86, $0.35 better than the analyst estimate of $1.51. Revenue for the quarter came in at $42.4 billion versus the consensus estimate of $38.93 billion.

The company reported records for earnings before interest and tax (EBIT) adjusted of $3.9 billion and EBIT-adjusted margin of 9.3 percent. These compare to EBIT-adjusted of $2.9 billion and EBIT-adjusted margin of 7.5 percent in the second quarter of 2015, which included the impact of $0.3 billion restructuring costs.

"This was an outstanding quarter for GM," said Chairman and CEO Mary Barra. "Our results were generated by strong retail sales in the U.S., record sales in China and a continued emphasis on improving the performance of our operations worldwide. We'll continue to focus on driving profitable growth and leveraging our technical expertise to lead in the future of personal mobility."

GUIDANCE:

General Motors sees FY2016 EPS of $5.50-$6.00, versus prior guidance of $5.25-$5.75 and the consensus of $5.65.

For earnings history and earnings-related data on General Motors (GM) click here.

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