Earnings Alert: General Motors (GM), Honda Motor (HMC) net income soars - Kalkine Media

August 04, 2021 11:45 AM PDT | By Team Kalkine Media
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Summary

  • General Motors Company (NYSE: GM) reported revenue of US$34.2 billion in Q2, 2021.
  • The Michigan-headquartered company’s net income increased to US$2.8 billion in the period.
  • Honda Motor Company Ltd (NYSE: HMC) net income rose to US$2.3 billion in Q1 of 2021.

Auto majors General Motors Company (NYSE: GM) and Honda Motor Company Ltd (NYSE: HMC) posted robust quarterly earnings on Wednesday as vehicles sales picked up amid a global economic recovery from the covid slump.

Both the companies have reported substantial revenue and income growth, although some operations were slow due to the pandemic.

General Motors’ Q2 performance

The Michigan-based company reported a massive jump in revenue to US$34.2 billion in the second quarter ended June from US$16.8 billion in the year-ago period. Its net income for the period was US$2.8 billion against a loss of US$0.8 billion in Q2 the previous year.

The Adjusted EBITDA was US$4.1 billion against US$0.5 billion in Q2 last year. Operating cash flow and free cash flow were US$4 billion and US$2.5 billion, respectively. Earnings per share were US$1.90.

GM expects a net income of US$7.7 to US$9 billion in the fiscal year 2021. And the adjusted EBITDA in the range of US$11.5 billion and US$13.5 billion.

The stocks of GM tumbled by 8.45 percent to US$52.99 at 12.12 pm ET on August 4 after the earnings report. GM designs and manufactures trucks, cars, crossovers, and automobile parts.

The market cap of the auto manufacturer is US$77.1 billion, the P/E ratio is 8.6, and the forward P/E one year is 8.40. The EPS is US$6.18.

The highest and lowest stock price of the US automobile giant for the last 52 weeks is US$64.30 and US$25.51. The share volume is 33,274,541. The stock value of the auto company rose by 27.03 percent YTD.


Also read: Why are GE (NYSE: GE), Eaton Corp (NYSE: ETN) stocks in focus today?

Source: Pixabay.


Honda Motor’s Q1 stats

The Japanese auto major reported a net income of US$2.3 billion in Q1 of 2021 on August 4. Its net income was US$1.18 per share. The automobile leader posted total revenue of US$32.74 billion versus US$21 billion in Q1 of 2020.

The stock of HMC rose by 1.28 percent to US$33.2836 at 11.26 am ET on Wednesday after the results. The company designs and produces motorcycles, all-terrain vehicles (ATV), and vehicles.

Its market cap is US$57.44 billion, the P/E ratio and the forward P/E one year are 9.19 and 9.09. The stock value of the carmaker rose by 17.65 percent YTD.

The EPS is US$3.62, and the annual dividend is US$1.569. The highest and lowest stock price of HMC for the last 52 weeks is US$33.32 and US$23.10. The share volume is 267,376.

Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.


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