GM may report a modest operating profit of 80 cents a share tomorrow, according to JP Morgan Securities analyst Himanshu Patel, ranked among the most accurate on the company by StarMine. The figure would exclude an estimated $3.8 billion charge for employee buyouts. The number is encouraging, considering a year earlier, GM lost 41 cents a share — also excluding one-time costs. “GM’s operating profit is going to be strong this quarter; it’s going to surprise quite a few people,” said Burnham Securities analyst David Healy, who predicts operating profit of $1.10 a share. “It’s a real vote of confidence for Wagoner’s leadership and for his turnaround plan.”
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07/25, 12:03 PM
posted by:
BP
good
07/25, 12:27 PM
posted by:
Peter
Good for them.
07/25, 12:29 PM
posted by:
Brandon
Good news, now let’s sustain this for a few quarters.
07/25, 12:54 PM
posted by:
zan
Yes if you exclude all the money they just spent the company might be profitable. Isn’t it wonderful that they do not have to include one time expenses when looking at their profitability.
oh well, maybe its a sign of better times. If they have more money then they can start working on making better cars.
07/25, 1:05 PM
posted by:
monts
They need to fix the Saab 9-7x’s interior.
07/25, 1:41 PM
posted by:
ss
*claps* now dont get ****y and mess it up.
07/25, 2:15 PM
posted by:
GM number1-4ever
Good job
07/25, 2:58 PM
posted by:
A non E Moose
Woo Hoo! Now where oh where have all the haters gone?!? Hmmmm. You suckers don’t have any good comments now, do you? I am not one of the nuts that goes all one way or the other (I like many brands, and many individual models), but I am getting sick of all the GM bashing. They are doing great on a worldwide basis, and this is encouraging news. Yeah, yeah, so they aren’t as “awesome” as Toyota. So what!?! They still make some great vehicles the world over, just like everyone else does.
07/25, 4:58 PM
posted by:
Anonymous
Toyota is cracking.
07/25, 5:14 PM
posted by:
JMa
One profitable quarter doesn’t mean ****. Put 2-3 strong fiscal YEARS together, increases in sales (excluding fleet) accross all of their product lines, without any major discounting, then I will be impressed.
Also, the value of GM’s cash and investments is greater than GM’s market cap, so don’t all of you get to excited, GM’s still in heaps of trouble.
07/25, 5:15 PM
posted by:
eric
time to keep it up
07/25, 5:15 PM
posted by:
chris2
Why should they increase sales?
There are so many competitors now that GM should focus on building strong cars, cut costs, cut overhead, cut hourly/plants to meet current sales and then cut fleet sales while increasing retail sales to replace the fleet. This will increase ATP and residuals. Quality has already been improved to be competitive. 25% of market share is great and one of the main reasons profits have gone away in the last year is that they continued to support capacity they could not use. They built cars/trucks to keep the plants working or paid wages to folks sitting on their butts. This extra production was unneeded and incentives/residuals and market share suffered
07/25, 9:38 PM
posted by:
Bryan Detty
And people have to remember that GM has petty Cash avalible. I am guessing they have atleast $10Billion and that isn’t including the more than enough in their retirement accounts. Also GM could sell 51% of GMAC for $12+ Billion in December. Hopefully GM can pull out of the Junk Bond status and make profit so that they don’t have to sell part of GMAC.
Also if you guys don’t remember this is 2 Quaters in a row and the 3rd Quater is usually the money maker.
07/26, 4:06 AM
posted by:
DaveO
Good for them…but is this for real or just spin doctoring? I feel like their PR machine is generating a lot of that lately. Has anything really changed other than slicing the staff? Will they have any negative effects from the buyouts?
07/26, 8:38 AM
posted by:
David Snitchnhinger
GM is going down, one good q cant change that.
07/26, 2:39 PM
posted by:
1c3d0g
For once, GM, let’s keep the momentum going. Don’t mess up now!