General Motors (GM), the largest US automaker by 2018 sales volume, reported its first-quarter earnings results before the market opened on April 30. In the first quarter, the company’s adjusted EPS fell 1.4% YoY (year-over-year) to $1.41 compared to $1.43 a year ago. General Motors beat analysts’ consensus estimates of $1.11 by a wide margin, according to data from Thomson Reuters.
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Missed on revenues
In the quarter ending in March, General Motors reported $34.9 billion in revenues—down 3.4% YoY and worse than analysts’ consensus estimates of $35.3 billion.
A significant drop in the company’s international market revenues drove its total revenues down in the last quarter. While General Motors’ revenues from North America fell 1.4% YoY to $27.4 billion in the first quarter, its international market revenues fell 18.8% YoY to $4.8 billion.
Lower sales and market share
General Motors’ first-quarter market share fell to 10.6% compared to 11.4% a year ago. During the quarter, the company sold ~1.88 million vehicles globally—down ~10.4% on a YoY basis. General Motors reported a 6.3% and 17.5% drop in its North America and China market sales, respectively, in the first quarter.
General Motors’ Chevrolet brand global sales fell 5.0% YoY in the last quarter. Buick, GMC, Cadillac, Holden, Baojun, and Wuling brand sales fell 15.3%, 4.1%, 11.5%, 21.3%, 30.6%, and 7.8%, respectively, which impacted General Motors’ first-quarter revenues.