GM's Record Q2 Operational Profit Dragged Down By Headwinds

Like
1
Favorite

GM's Record Q2 Operational Profit Dragged Down By Headwinds

Benzinga2021-08-05

General Motors (NYSE:GM) already had a hard job by having to follow up Ford Motors (NYSE:F), and Tesla Inc (NASDAQ:TSLA) who exceeded estimates with their earnings reports last week. It is also ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（1）

BinLong
·2021-08-05
Tesla ??
Reply
3
Report

Most Discussed

7x24

All

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2157430183?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-08-05 22:13","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2157430183","market":"us","top_or_hot":-1,"title":"GM's Record Q2 Operational Profit Dragged Down By Headwinds","media":"Benzinga","content":"<div>\n<p>General Motors (NYSE:GM) already had a hard job by having to follow up Ford Motors (NYSE:F), and Tesla Inc (NASDAQ:TSLA) who exceeded estimates with their earnings reports last week. It is also ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds\">Source Link</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GM's Record Q2 Operational Profit Dragged Down By Headwinds</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGM's Record Q2 Operational Profit Dragged Down By Headwinds\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-05 22:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>General Motors (NYSE:GM) already had a hard job by having to follow up Ford Motors (NYSE:F), and Tesla Inc (NASDAQ:TSLA) who exceeded estimates with their earnings reports last week. It is also ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GM","symbol_name":"通用汽车","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds","article_id":"2157430183","we_media_id":"1052270027","thumbnails":[],"rights":{"source":null,"url":"https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2157430183","pubTimestamp":1628172793,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"General Motors (NYSE: GM) already had a hard job by having to follow up Ford Motors (NYSE: F), and Tesla Inc (NASDAQ: TSLA) who exceeded es","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GM":"通用汽车","F":"福特汽车","WKSP":"Worksport Ltd","TSLA":"特斯拉","QTWO":"Q2 Holdings Inc","WKSPW":"WORKSPORT LTD C/WTS 06/08/2024 (TO PUR COM)","AMZN":"亚马逊"},"translate_title":"受逆风拖累通用汽车创纪录的第二季度运营利润","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WKSPW":0.9,"AMZN":0.9,"WKSP":0.9,"QTWO":1,"GM":0.9,"TSLA":0.9,"F":0.9},"content_text":"General Motors (NYSE:GM) already had a hard job by having to follow up Ford Motors (NYSE:F), and Tesla Inc (NASDAQ:TSLA) who exceeded estimates with their earnings reports last week. It is also weathering a global semiconductor chip shortage, having confirmed three North American full-size pickup truck assembly plants will be shut down next week. On Wednesday, it missed Wall Street expectations for its second quarter despite reporting a record operating profit. However, it did raise 2021 guidance and confirmed the arrival of two electric vehicles.\nThe Global Semiconductor Shortage Remains Complex\nAlong with causing factory shutdown, this crisis is expected to trim billions off the industry's earnings this year. Next week, Flint, Michigan; Fort Wayne, Indiana; and Silao, Mexico will again be idle, only a week after they resumed production that was suspended for the same reason, only further showing the uncertain dynamics of the supply shortage. During the forced break, unfinished vehicles will be completed and shipped to dealers from the impacted plants.\nQ2 Figures\nRevenue exceeded the expected $30.9 billion as it amounted to $34.17 billion. On the other hand, adjusted EPS of $1.97 came lower than the expected $2.23 as they were drained by warranty recall costs of approximately $1.3 billion that include $800 million brought on by the recall of Chevrolet Bolt EV due to fire risks, the second time this year.\nOn an unadjusted basis, net income was $2.8 billion compared with last year's quarter loss of $758 million owed to the pandemic that caused shutdowns of its factories. Pretax adjusted earnings amounted to $4.1 billion for the second quarter, a record for the second quarter, topping GM's adjusted earnings before interest and taxes of $3.9 billion, or $1.86 a share, in 2016.\nThe Electric Pickup Is Coming\nGM CEO Mary Barra confirmed the arrival of two new electric vehicles to GM's commercial lineup, without disclosing the timing or other details. GM will create a full-size battery-electric cargo van for Chevrolet as well as a medium-duty truck for service and utility vehicles such as school buses. They will be powered by GM's Ultium Cells and Hydrotec fuel cells. These two EVs are part of GM's plan to increase its investment in electric and autonomous vehicles by 30% to $35 billion through 2025.\nStartups such as Amazon-backed (NASDAQ:AMZN)) Rivian as well as legacy automakers such as Ford Motor and the EV pioneer Tesla Inc will have their electric pickup on the market by then.\nNext year, we're also in for a luxurious electric pickup by Hercules Electric Vehicles and a tech-savvy model by Atlis Motor Vehicles, both of which will be equipped by the solar fusion TerraVis, intellectual property of Worksport Ltd. (NASDAQ:WKSP) (NASDAQ:WKSPW) that just received approval to list on the tech-heavy NASDAQ, As an established company contributing cutting-edge research on renewable solar energy to the EV table and a balance sheet with more than $20,000,000 million in cash and cash equivalents, free of long-term debt, it is now finally where it belongs with other revolutionary tech companies that provide us with hope for a greener future.\nOutlook\nThe legendary automaker raised its prior adjusted full-year guidance of $10 billion to $11 billion to a new range between $11.5 billion and $13.5 billion. It also expects commodity costs to rise by $1.5 billion and $2.0 billion along with lower earnings from its financial arm as it will continue to see the impact of the chip shortage both this year and into 2022.\nThis article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com\nThe post GM's Record Q2 Operational Profit Dragged Down by Headwinds appeared first on IAM Newswire.\nImage by F. Muhammad from Pixabay","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[{"id":899664866,"gmtCreate":1628179196255,"gmtModify":1703502752695,"author":{"id":"3576534359839665","authorId":"3576534359839665","name":"BinLong","avatar":"https://static.tigerbbs.com/f784382ffd496b8b23ef07047bad2bf8","vip":1,"crmLevel":12,"crmLevelSwitch":0,"wearingBadges":[],"authorIdStr":"3576534359839665","idStr":"3576534359839665"},"htmlText":"Tesla ??","listText":"Tesla ??","text":"Tesla ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/899664866","repostId":2157430183,"repostType":2,"repost":{"id":"2157430183","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1628172793,"share":"https://ttm.financial/m/news/2157430183?lang=en_US&edition=fundamental","pubTime":"2021-08-05 22:13","market":"us","language":"en","title":"GM's Record Q2 Operational Profit Dragged Down By Headwinds","url":"https://stock-news.laohu8.com/highlight/detail?id=2157430183","media":"Benzinga","summary":"General Motors (NYSE: GM) already had a hard job by having to follow up Ford Motors (NYSE: F), and Tesla Inc (NASDAQ: TSLA) who exceeded es","content":"<div>\n<p>General Motors (NYSE:GM) already had a hard job by having to follow up Ford Motors (NYSE:F), and Tesla Inc (NASDAQ:TSLA) who exceeded estimates with their earnings reports last week. It is also ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds\">Source Link</a>\n\n</div>\n","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GM's Record Q2 Operational Profit Dragged Down By Headwinds</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGM's Record Q2 Operational Profit Dragged Down By Headwinds\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-05 22:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>General Motors (NYSE:GM) already had a hard job by having to follow up Ford Motors (NYSE:F), and Tesla Inc (NASDAQ:TSLA) who exceeded estimates with their earnings reports last week. It is also ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","F":"福特汽车","WKSP":"Worksport Ltd","TSLA":"特斯拉","QTWO":"Q2 Holdings Inc","WKSPW":"WORKSPORT LTD C/WTS 06/08/2024 (TO PUR COM)","AMZN":"亚马逊"},"source_url":"https://www.benzinga.com/news/earnings/21/08/22350609/gms-record-q2-operational-profit-dragged-down-by-headwinds","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2157430183","content_text":"General Motors (NYSE:GM) already had a hard job by having to follow up Ford Motors (NYSE:F), and Tesla Inc (NASDAQ:TSLA) who exceeded estimates with their earnings reports last week. It is also weathering a global semiconductor chip shortage, having confirmed three North American full-size pickup truck assembly plants will be shut down next week. On Wednesday, it missed Wall Street expectations for its second quarter despite reporting a record operating profit. However, it did raise 2021 guidance and confirmed the arrival of two electric vehicles.\nThe Global Semiconductor Shortage Remains Complex\nAlong with causing factory shutdown, this crisis is expected to trim billions off the industry's earnings this year. Next week, Flint, Michigan; Fort Wayne, Indiana; and Silao, Mexico will again be idle, only a week after they resumed production that was suspended for the same reason, only further showing the uncertain dynamics of the supply shortage. During the forced break, unfinished vehicles will be completed and shipped to dealers from the impacted plants.\nQ2 Figures\nRevenue exceeded the expected $30.9 billion as it amounted to $34.17 billion. On the other hand, adjusted EPS of $1.97 came lower than the expected $2.23 as they were drained by warranty recall costs of approximately $1.3 billion that include $800 million brought on by the recall of Chevrolet Bolt EV due to fire risks, the second time this year.\nOn an unadjusted basis, net income was $2.8 billion compared with last year's quarter loss of $758 million owed to the pandemic that caused shutdowns of its factories. Pretax adjusted earnings amounted to $4.1 billion for the second quarter, a record for the second quarter, topping GM's adjusted earnings before interest and taxes of $3.9 billion, or $1.86 a share, in 2016.\nThe Electric Pickup Is Coming\nGM CEO Mary Barra confirmed the arrival of two new electric vehicles to GM's commercial lineup, without disclosing the timing or other details. GM will create a full-size battery-electric cargo van for Chevrolet as well as a medium-duty truck for service and utility vehicles such as school buses. They will be powered by GM's Ultium Cells and Hydrotec fuel cells. These two EVs are part of GM's plan to increase its investment in electric and autonomous vehicles by 30% to $35 billion through 2025.\nStartups such as Amazon-backed (NASDAQ:AMZN)) Rivian as well as legacy automakers such as Ford Motor and the EV pioneer Tesla Inc will have their electric pickup on the market by then.\nNext year, we're also in for a luxurious electric pickup by Hercules Electric Vehicles and a tech-savvy model by Atlis Motor Vehicles, both of which will be equipped by the solar fusion TerraVis, intellectual property of Worksport Ltd. (NASDAQ:WKSP) (NASDAQ:WKSPW) that just received approval to list on the tech-heavy NASDAQ, As an established company contributing cutting-edge research on renewable solar energy to the EV table and a balance sheet with more than $20,000,000 million in cash and cash equivalents, free of long-term debt, it is now finally where it belongs with other revolutionary tech companies that provide us with hope for a greener future.\nOutlook\nThe legendary automaker raised its prior adjusted full-year guidance of $10 billion to $11 billion to a new range between $11.5 billion and $13.5 billion. It also expects commodity costs to rise by $1.5 billion and $2.0 billion along with lower earnings from its financial arm as it will continue to see the impact of the chip shortage both this year and into 2022.\nThis article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com\nThe post GM's Record Q2 Operational Profit Dragged Down by Headwinds appeared first on IAM Newswire.\nImage by F. Muhammad from Pixabay","news_type":1,"symbols_score_info":{"WKSPW":0.9,"AMZN":0.9,"WKSP":0.9,"QTWO":1,"GM":0.9,"TSLA":0.9,"F":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}