General Motors (GM) released its 3Q15 earnings on October 21, 2015. The company reported EPS (earnings per share) of $0.84. Its EPS in the corresponding quarter last year stood at $0.81.
General Motors’s 3Q15 earnings saw negative impact from special items to the tune of $1.5 billion, or $0.66 per share. This includes a $0.9 billion settlement with the US Attorney’s office for the company’s ignition switch recall.
After adjusting for special items, General Motors reported an adjusted EPS of $1.55, a rise of 55% year-over-year. The company’s 3Q15 financial results were met with jubilation on the markets. Its shares closed at $35.42 on October 21, 2015. This was a rise of 5.8% from the previous day’s closing.
Trading volumes was also more than double the three-month average. You can see the recent movement in the company’s share price in the graph above.
General Motors’s earnings came one day after Harley-Davidson (HOG) released its dismal 3Q15 financial performance. You can read more about Harley-Davidson’s 3Q15 earnings in An Investor’s Guide to Harley-Davidson’s 3Q15 Earnings.
The next week will witness earnings reports from major automakers. Ford (F) is expected to release its 3Q15 earnings on October 27. Fiat Chrysler’s (FCAU) earnings are expected on October 28. Currently, Ford forms 0.59% of the PowerShares FTSE RAFI US 1000 ETF (PRF).
In this series, we’ll explore General Motors’s 3Q15 earnings in detail. We’ll discuss what factors could drive its earnings in the coming quarters. We’ll also cover key points from the company’s 3Q15 earnings conference call.