For the whole year, GM’s profit fell to $9.9 billion, from $10 billion in 2021. EBIT-adjusted revenue of $14.5 billion was a record, up slightly from $14.3 billion a year earlier.
The company expects adjusted automotive free cash flow of $5 to $7 billion in 2023, with automotive net cash from operating activities of $16 to $20 billion.
In the fourth quarter, GM earned $2 billion, up from $1.7 billion a year earlier. EBIT-adjusted revenue of $3.8 billion was up from $2.8 billion a year earlier, as higher prices and increased sales volume in North America more than offset increased costs.
Adjusted diluted earnings per share was $2.12 for the quarter, compared to $1.99 a year earlier.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
