GM reports $4.9 billion net income in 2012

General Motors Company announced 2012 calendar-year net income attributable to common stockholders of $4.9 billion, or $2.92 per fully diluted share, down from $7.6 billion or $4.58 per fully diluted share in 2011, due primarily to unfavourable special items.

Special items during the calendar year impacted full-year net income to common stockholders unfavourably, $(0.5) billion, or $(0.32) per share, compared to a favourable $1.2 billion impact in 2011, or $0.70 per share.

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Revenue increased 1 percent to $152.3 billion, compared with $150.3 billion in 2011.  Full-year earnings before interest and tax (EBIT) adjusted was $7.9 billion, compared with $8.3 billion in 2011.  Full-year EBIT-adjusted for 2012 includes the impact of restructuring charges of $(0.4) billion.

“We recorded another solid year in 2012 as we grew the business, delivered a third straight year of profitability and took significant actions to put the company on a solid path for future growth,” said Dan Akerson, chairman and CEO. “This year our priorities will be executing flawless new vehicle launches, controlling costs and delivering more vehicles to our customers at outstanding value.”

Overview

Q4 2011 Q4 2012 Full-year 2011 Full-year 2012
Revenue $38.0 $39.3 $150.3 $152.3
Net income attributable to common stockholders $0.5 $0.9 $7.6 $4.9
Earnings per share (EPS) fully diluted $0.28 $0.54 $4.58 $2.92
Impact of special items on EPS fully diluted  $(0.11) $0.06 $0.70 ($0.32)
EBIT-adjusted $1.1 $1.2 $8.3 $7.9
Automotive net cash flow from operating activities $1.2 $0.5 $7.4 $9.6
Adjusted automotive free cash flow ($0.2) $1.1 $3.0 $4.3

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