NYSE$GM
General Motors Co · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
GM's Q2 2023 earnings were released, revealing increased revenue and net income compared to the same period last year, and full-year earnings guidance was raised.
General Motors reported a strong second quarter with revenue reaching $44.7 billion and net income attributable to stockholders of $2.6 billion. The company's EBIT-adjusted was $3.2 billion. The company also updated its full-year 2023 guidance for the second consecutive quarter.
- Second-quarter revenue reached $44.7 billion.
- Net income attributable to stockholders was $2.6 billion.
- EBIT-adjusted stood at $3.2 billion.
- Full-year 2023 earnings guidance was raised.
Headline financials
Revenue & EPS history
GM · Revenue · Quarterly
$44.7B
Revenue by segment
GM · $4.2B total across 3 segments · Q2 2023
- GM North America$3.19B+38.9%76.1%
- GM Financial$766M-30.7%18.3%
- GM International$236M+12.9%5.6%
Forward guidance
GM is updating its full-year 2023 guidance for the second consecutive quarter.
Tailwinds
- U.S. GAAP net income attributable to stockholders of $9.3 billion-$10.7 billion, compared to the previous outlook of $8.4 billion-$9.9 billion
- EBIT-adjusted of $12.0 billion-$14.0 billion, compared to the previous outlook of $11.0 billion-$13.0 billion
- U.S. GAAP net automotive cash provided by operating activities of $18.0 billion-$21.0 billion, compared to the previous outlook of $16.5 billion-$20.5 billion
- Adjusted automotive free cash flow of $7.0 billion-$9.0 billion, compared to the previous outlook of $5.5 billion-$7.5 billion
- Capital expenditures of $11 billion-$12 billion, compared to the previous outlook of $11 billion-$13 billion
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.0%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+1.5%
Avg return
30 days after
42%
27 / 65 earnings
Positive
+15.8%
Q3 2025
Best reaction
-9.3%
Q3 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.0% | -2.8% | +7.7% | |
| Q4 2025 | +8.6% | +5.8% | +1.7% | |
| Q3 2025 | +15.8% | +20.1% | +17.3% | |
| Q2 2025 | +1.5% | +2.7% | +5.3% | |
| Q1 2025 | -0.6% | -4.1% | +2.9% | |
| Q4 2024 | -8.9% | -9.9% | -13.3% | |
| Q3 2024 | +8.2% | +6.4% | +13.8% | |
| Q2 2024 | -6.2% | -11.0% | -6.3% | |
| Q1 2024 | +4.3% | +6.1% | +1.2% | |
| Q4 2023 | +9.6% | +9.9% | +15.8% | |
| Q3 2023 | -0.7% | -6.8% | -3.8% | |
| Q2 2023 | -2.6% | -3.2% | -16.3% | |
| Q1 2023 | -6.0% | -3.6% | -5.5% | |
| Q4 2022 | +8.3% | +13.3% | +8.9% | |
| Q3 2022 | +6.0% | +8.8% | +12.3% | |
| Q2 2022 | +0.5% | +5.0% | +17.0% | |
| Q1 2022 | -2.9% | -4.8% | -6.0% | |
| Q4 2021 | +1.5% | -2.7% | -14.8% | |
| Q3 2021 | -5.5% | -3.3% | +4.9% | |
| Q2 2021 | -5.9% | -6.8% | -15.7% | |
| Q1 2021 | +6.1% | +3.7% | +14.5% | |
| Q4 2020 | -4.6% | -4.4% | +5.7% | |
| Q3 2020 | +6.3% | +16.6% | +26.0% | |
| Q2 2020 | -4.3% | -2.6% | +14.0% | |
| Q1 2020 | +0.5% | -6.4% | +16.7% | |
| Q4 2019 | -0.1% | -0.3% | -16.5% | |
| Q3 2019 | +3.5% | +3.6% | -1.4% | |
| Q2 2019 | -1.4% | -3.1% | -8.1% | |
| Q1 2019 | -3.1% | -3.0% | -13.0% | |
| Q4 2018 | -1.7% | -1.7% | -3.3% | |
| Q3 2018 | +8.7% | +8.1% | +13.1% | |
| Q2 2018 | -6.9% | -4.6% | -8.9% | |
| Q1 2018 | -1.2% | -4.4% | +0.5% | |
| Q4 2017 | +7.2% | +4.9% | -4.3% | |
| Q3 2017 | -0.1% | -1.1% | -1.9% | |
| Q2 2017 | -0.6% | -0.1% | -0.8% | |
| Q1 2017 | -1.0% | -3.1% | -4.3% | |
| Q4 2016 | -4.6% | -4.5% | +0.0% | |
| Q3 2016 | -4.2% | -5.0% | +2.7% | |
| Q2 2016 | +2.1% | +2.1% | +1.1% | |
| Q1 2016 | -0.0% | — | — | |
| Q4 2015 | -3.4% | — | — | |
| Q3 2015 | +5.8% | — | — | |
| Q2 2015 | +2.5% | — | — | |
| Q1 2015 | -4.2% | — | — | |
| Q4 2014 | +6.7% | — | — | |
| Q3 2014 | -4.1% | — | — | |
| Q2 2014 | -6.3% | — | — | |
| Q1 2014 | -1.9% | — | — | |
| Q4 2013 | +2.5% | — | — | |
| Q3 2013 | +2.5% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | +6.4% | — | — | |
| Q4 2012 | -3.2% | — | — | |
| Q3 2012 | +10.3% | — | — | |
| Q2 2012 | +1.9% | — | — | |
| Q1 2011 | -2.5% | — | — | |
| Q4 2011 | -2.5% | — | — | |
| Q1 2012 | -2.5% | — | — | |
| Q4 2010 | +0.3% | — | — | |
| Q1 2010 | +0.3% | — | — | |
| Q3 2010 | -9.3% | — | — | |
| Q3 2011 | -9.3% | — | — | |
| Q2 2011 | -5.5% | — | — | |
| Q2 2010 | -5.5% | — | — |
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