2022-10-25 06:36:03 GM General Motors
10/25/22 10/2506:36 10/25/2206:36 | General Motors issues letter to shareholders regarding Q3 resultsThe letter said, "During the third quarter, GM once again delivered strong results, including record third-quarter revenue and double-digit EBIT-adjusted margins. We're delivering on our commitments and affirming our full-year guidance despite a challenging environment because demand continues to be strong for GM products and we are actively managing the headwinds we face. For example, our team translated improved supply chain conditions into another quarter of full-size pickup, full-size SUV and Cadillac Escalade segment leadership. This keeps us on track to deliver our third consecutive year of full-size pickup leadership, and our 22nd year as the full-size SUV leader. To build our truck leadership and help maintain our strong margins, Chevrolet and GMC recently unveiled new midsize and heavy-duty pickups that will launch next year. We also earned more than 8% of the U.S. electric vehicle market in the third quarter thanks to record sales of the Chevrolet Bolt EV and Bolt EUV. Our dealers and customers have embraced the Bolt because of its range, technology and value, helping it outsell Ford's Mach-E by more than two to one in September. The Chevrolet Equinox EV and the GMC Sierra EV that we revealed in recent weeks, along with the Chevrolet Silverado EV and Blazer EV, are cornerstones of our strategy to rapidly grow EV volumes by winning in high-volume segments. They have all been incredibly well received by customers and industry experts who see them driving rapid EV adoption and conquest sales for GM, including in coastal markets. The Chevrolet Bolt EV and Bolt EUV will continue to play an important role too. We're increasing production from 44,000 units this year to 70,000 units next year, and we will leverage our industry-leading loyalty to move these customers into one of our new EVs for their next purchase. As we scale the Ultium Platform, we have been very intentional to position the company for volume growth with flexibility, efficiency and increased EV profitability over time. Greater vertical integration is a key driver. That's why we are building battery cells in Ohio through Ultium Cells LLC, with a second U.S. plant opening next year, a third in 2024 and a fourth planned. A secure and integrated supply chain will be another competitive advantage for us as we scale. As I shared last quarter, we moved early and aggressively to secure commitments for all the battery raw material we need to reach more than 1 million units of annual EV capacity in North America in 2025. For growth beyond 2025, we continue to secure our future with strategic supply agreements and direct investments in natural resource recovery, processing and recycling. There have been many other exciting developments, but it's the Cadillac CELESTIQ we unveiled on Oct. 17 that shows the almost limitless possibilities of Ultium. The CELESTIQ is a completely bespoke work of automotive art built around the most advanced and innovative technology that we have ever engineered. No two will be alike and we will begin handcrafting them in December 2023. This is a very exciting time for GM. That's why I'd like to encourage all of you to join our Investor Day webcast on Nov. 17. We will use this time to go deeper into the rapid scaling of our EV portfolio and we'll share important metrics to help you track our progress." |
|
---|
Options
|
Patterson-UTI options imply 5.6% move in share price post-earnings »
15:43 02/08/23 02/0815:43 02/08/2315:43
PTEN
Patterson-UTI
Pre-earnings options… Story temporarily locked. ShowHide Related Items >><<
|
Periodicals
|
Apple names Medtronic's Surface as Chief People Officer, Bloomberg says »
15:41 02/08/23 02/0815:41 02/08/2315:41
AAPL
Apple
Medtronic
Apple (AAPL) CEO Tim Cook… Story temporarily locked. ShowHide Related Items >><<
|
Options
|
Applovin options imply 13.1% move in share price post-earnings »
15:34 02/08/23 02/0815:34 02/08/2315:34
APP
AppLovin
Pre-earnings options… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Idorsia price target lowered to CHF 12.50 from CHF 15 at JPMorgan »
15:32 02/08/23 02/0815:32 02/08/2315:32
IDRSF
Idorsia
JPMorgan analyst James… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Ambu price target lowered to DKK 55 from DKK 65 at JPMorgan »
15:32 02/08/23 02/0815:32 02/08/2315:32
AMBBY
Ambu
JPMorgan lowered the… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
TeamViewer price target raised to EUR 12 from EUR 11 at JPMorgan »
15:31 02/08/23 02/0815:31 02/08/2315:31
TMVWY
TeamViewer
JPMorgan analyst Toby Ogg… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Banco Santander price target raised to EUR 4.10 from EUR 3.60 at JPMorgan »
15:31 02/08/23 02/0815:31 02/08/2315:31
SAN
Banco Santander
JPMorgan analyst Sofie… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Poste Italiane price target raised to EUR 11 from EUR 10.80 at JPMorgan »
15:30 02/08/23 02/0815:30 02/08/2315:30
PITAF
Poste Italiane
JPMorgan analyst Farooq… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Norsk Hydro price target raised to NOK 64 from NOK 62 at JPMorgan »
15:30 02/08/23 02/0815:30 02/08/2315:30
NHYDY
Norsk Hydro
JPMorgan analyst Patrick… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Demant price target raised to DKK 248 from DKK 233 at JPMorgan »
15:29 02/08/23 02/0815:29 02/08/2315:29
WILYY
Demant
JPMorgan analyst David… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
CaixaBank price target raised to EUR 4.30 from EUR 3.90 at JPMorgan »
15:29 02/08/23 02/0815:29 02/08/2315:29
CAIXY
CaixaBank
JPMorgan analyst Sofie… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
BNP Paribas price target raised to EUR 68 from EUR 60 at JPMorgan »
15:27 02/08/23 02/0815:27 02/08/2315:27
BNPQY
BNP Paribas
JPMorgan analyst Delphine… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Uber price target raised to $41 at Piper Sandler after 'best-ever quarter' »
15:25 02/08/23 02/0815:25 02/08/2315:25
UBER
Uber
Piper Sandler analyst… Story temporarily locked. ShowHide Related Items >><<
|
Options
|
Sonos options imply 9.4% move in share price post-earnings »
15:25 02/08/23 02/0815:25 02/08/2315:25
SONO
Sonos
Pre-earnings options… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Warehouses De Pauw price target raised to EUR 27 from EUR 24 at RBC Capital »
15:24 02/08/23 02/0815:24 02/08/2315:24
WDPSF
Warehouses De Pauw
RBC Capital analyst… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
ams OSRAM price target raised to CHF 7.70 from CHF 7.30 at Credit Suisse »
15:20 02/08/23 02/0815:20 02/08/2315:20
AMSSY
ams OSRAM
Credit Suisse analyst… Story temporarily locked. ShowHide Related Items >><<
|
Options
|
Tenet options imply 7.4% move in share price post-earnings »
15:19 02/08/23 02/0815:19 02/08/2315:19
THC
Tenet Healthcare
Pre-earnings options… Story temporarily locked. ShowHide Related Items >><<
|
Technical Analysis
|
NASDAQ market internals summary »
15:17 02/08/23 02/0815:17 02/08/2315:17
$NSD
NASDAQ Market Internals
Volume is above average… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
BNP Paribas price target raised to EUR 78 from EUR 75 at Credit Suisse »
15:16 02/08/23 02/0815:16 02/08/2315:16
BNPQY
BNP Paribas
Credit Suisse analyst Jon… Story temporarily locked. ShowHide Related Items >><<
|
Technical Analysis
| Volume is average for… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Idorsia price target lowered to CHF 12.50 from CHF 15 at Credit Suisse »
15:15 02/08/23 02/0815:15 02/08/2315:15
IDRSF
Idorsia
Credit Suisse analyst… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
TeamViewer price target raised to EUR 15 from EUR 14 at Barclays »
15:12 02/08/23 02/0815:12 02/08/2315:12
TMVWY
TeamViewer
Barclays analyst James… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
Demant price target raised to DKK 180 from DKK 175 at Barclays »
15:12 02/08/23 02/0815:12 02/08/2315:12
WILYY
Demant
Barclays analyst Hassan… Story temporarily locked. ShowHide Related Items >><<
|
Options
|
Lincoln National options imply 7.7% move in share price post-earnings »
15:11 02/08/23 02/0815:11 02/08/2315:11
LNC
Lincoln National
Pre-earnings options… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
California AG announces $215M settlement against Centene »
15:09 02/08/23 02/0815:09 02/08/2315:09
CNC
Centene
California Attorney… Story temporarily locked. ShowHide Related Items >><<
|