GM: Gains on another strong profit beat
06/02/2019 14:35
** Shares of General Motors Co GM.N up 3 pct in early
trade, adding to gains after beating Q4 profit estimates
urn:newsml:reuters.com:*:nL1N2010K1
** GM has now topped EPS estimates for at least nine qtrs in
a row and the ~17 pct beat in Q4 is the seventh time it has
exceeded estimates by 12 pct or more - Refinitiv data
** GM posts Q4 GAAP profit vs yr-ago loss on cost cuts and
strong U.S. sales of high-margin pickup trucks, crossovers that
helped overcome a drop in overall vehicles sales
** Automaker also maintains the 2019 adj. EPS forecast of
$6.50-$7.00 it gave on Jan. 11, while Street estimates have
risen to $6.39 from $5.86 during the period urn:newsml:reuters.com:*:nL3N1ZB3U1
** GM stock has risen 17.5 pct YTD, outpacing Ford Motor Co
F.N , Tesla Inc TSLA.O , Hyundai Motor Co 005380.KS , Toyota
Motor Corp 7203.T , Daimler AG DAIGn.DE and Nissan Motor Co
7201.T
** Only Ferrari NV RACE.N and Fiat Chrysler NV FCAU.N
have risen more in 2019
** GM trades at 6.2x next 12 month EPS estimates, cheaper
than Ford (7.1x) and all other automakers, except Fiat Chrysler
(4.7x) - Refinitiv data
(Reporting by Savio D'Souza)
((RM:savio.dsouza.thomsonreuters.com@reuters.net))