How does GM's 2024 earnings trend compare?


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General Motors' (GM) 2024 earnings trend shows a company that has demonstrated resilience in the face of a challenging automotive landscape, particularly in the electric vehicle (EV) segment. Below is a detailed comparison of GM's financial performance with its key competitors, Ford Motor (F) and Toyota Motor (TM), over the past three years1:
- Diluted Earnings Per Share (EPS) Growth:
- GM's EPS grew from $6.13 in 2021 to $7.32 in 2023, reflecting a robust increase of approximately 19.5% over the period.
- Ford's EPS remained relatively stable, increasing from $1.46 in 2021 to $1.46 in 2023, indicating minimal growth.
- Toyota's EPS also showed modest growth, rising from $2.42 in 2021 to $2.69 in 2023, which is approximately a 11.4% increase.
- Total Revenue Growth:
- GM's total revenue grew from $156.74 billion in 2021 to $171.84 billion in 2023, representing a slight increase of about 10%.
- Ford's revenue increased from $184.99 billion in 2021 to $187.44 billion in 2023, indicating a growth of around 1.3%.
- Toyota's revenue growth was more significant, rising from $258.4 billion in 2021 to $298.21 billion in 2023, which is approximately a 15.4% increase.
Insights and Analysis:
- GM's EPS growth outpaces both Ford and Toyota, suggesting improved profitability and operational efficiency.
- While GM's revenue growth is substantial, it is surpassed by Toyota, which has experienced a higher percentage increase in total revenue.
- Ford's lack of significant EPS growth and relatively low revenue increase compared to GM and Toyota indicates challenges in maintaining financial performance.
- It is important to note that these trends are influenced by various factors, including market conditions, product mix, and strategic initiatives.
In conclusion, GM's 2024 earnings trend reflects a company that is performing well, especially in terms of EPS growth. However, it faces challenges from Toyota, which has shown stronger revenue growth, and Ford, which has a more stable financial performance. GM's continued success will depend on its ability to capitalize on market opportunities, particularly in the EV sector.
Source:
1.
GM, TSLA, TM, HM, F EPS, Revenue Growth Rate in the past three years
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