Money: GM says 2018 earnings exceeded expectations and 2019 looks even better - PressFrom - Canada
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MoneyGM says 2018 earnings exceeded expectations and 2019 looks even better

16:42  11 january  2019
16:42  11 january  2019 Source:   cnbc.com

Investors are finding out now why the stock market tanked in December

Investors are finding out now why the stock market tanked in December Companies are cutting profit forecasts and trying to temper expectations for earnings growth this year after a big 2018. On the first day of trading last week, Apple warned that its first quarter sales wouldn't be as high as previously projected and said its profit margin would be ever so slightly narrower than forecast. The Nikkei Asian Review reported this week that Apple is cutting its iPhone production by 10 percent for the next three months. It is more of the same for other companies. Beverage giant Constellation Brands said Wednesday that its fiscal 2019 earnings per share would be $9.20 to $9.

General Motors CEO Mary Barra said the automaker's full-year 2018 earnings exceeded its previous expectations and that 2019 is looking even better She said GM has 20 new or updated products coming out in China. "When you step back and look at China we have been there for 20 years, we

General Motors says it sold fewer vehicles during the third quarter — but at higher prices — helping General Motors said Wednesday it sold fewer vehicles during the third quarter "Affordability may be the canary in the coal mine for the level of auto sales as we close out 2018 and begin to look at 2019 .

GM says 2018 earnings exceeded expectations and 2019 looks even better© Provided by CNBC LLC General Motors CEO Mary Barra

General Motors CEO Mary Barra said the automaker's full-year 2018 earnings exceeded its previous expectations and that 2019 is looking even better, citing strong sales in China and high demand for its truck and utility vehicles in the U.S.

The second largest U.S. automaker had previously told investors that it expected 2018 adjusted earnings of between $5.80 and $6.20 a share and adjusted automotive free cash flow of $4 billion. It now expects to surpass those projections and painted an even better picture of 2019, Barra said Friday.

She forecast diluted adjusted earnings per share of between $6.50 to $7 and adjusted automotive free cash flow $4.5 billion to $6 billion for 2019.

GM predicts profit surge after unpopular layoffs, plant closings

GM predicts profit surge after unpopular layoffs, plant closings General Motors said last year's earnings would be higher than expected and this year's may rise even further as it focuses on building more lucrative vehicles, a strategy that infuriated lawmakers because of the U.S. plant closings and layoffs it entailed. Earnings in 2019 will be $6.50 to $7 per share, the Detroit based company said Friday, higher than most analysts' estimates. The carmaker reiterated plans to deploy its first commercial fleet of self-driving cars and said retail sales in China would be comparable to 2018 despite a slowdown in the country's economy exacerbated by a trade fight with Washington.

General Motors said it expects earnings in 2018 to be largely flat compared with 2017. The 2018 earnings outlook was above market expectations , sending GM shares up more than 3 percent in premarket trading. " GM had a very good 2017 as we continued to transform our company to be more

General Motors (NYSE: GM ) said that it expects its results in 2018 to look a lot like its GM also noted that while its earnings may not grow much in 2018 , 2019 has the potential to be a record year. A good operating result for 2017. GM won't report its fourth-quarter and full-year 2017 earnings until

Barra also said GM tightened its belt last year, adding that tight cost controls helped boost earnings. Mary Barraannounced several plant closures and 14,000 job cuts in November. The reorganization is estimated to save about $6 billion by the end of 2020, with about half of those cost savings realized by the end of 2019, the company said at the time.

GM plans to expand its footprint overseas with a global family of vehicles it is set to launch in China this year, Barra told reporters on a conference call.

Cadillac will become the company's lead electric vehicle brand, it said. It's projecting just over 17 million in total U.S. vehicle sales in 2019 and 27 million in China — about flat from 2018. She said annual auto sales in China will eventually climb to 30 million.

Report: Oilers on 'full-court press' to find forward help

Report: Oilers on 'full-court press' to find forward help Peter Chiarelli and the rest of the Edmonton Oilers' brass are reportedly pulling out all the stops to help salvage their season. The organization is on a "full-court press" to find forward help, according to TSN's Ryan Rishaug. Oilers organization is on a full court press to find help at forward. Scouts and staff deployed en masse. Cap situation could make it tough, but first round pick, a goaltender, maybe a young developing forward likely all in play.— Ryan Rishaug (@TSNRyanRishaug) January 14, 2019 The Oilers have an embarrassment of riches down the middle with Connor McDavid, Leon Draisaitl, and Ryan Nugent-Hopkins.

Amazon reported second-quarter earnings Thursday that far exceed analysts expectations . Investors cheered. Amazon on Thursday reported a .5 billion second-quarter profit, which far exceeded Wall Street's expectations . It also offered a better -than- expected forecast for its operating profit for the

Sonos Beats Earnings Expectations , Teases Out-of-Home Product for 2019 . Sonos share prices rose sharply Thursday after the close of markets on better -than- expected earnings news: Investors sent the company’s stock “Beam exceeded our forecast,” the company said in its letter to investors.

"But the constructive conversation with trade talks as well as the NDRC related to durable goods stimulus there are a lot of factors that will allow us to achieve appropriate earnings this year," she said referring to China's National Development Reform Commission.

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Starbucks posts better-than-expected profit in fiscal 1Q.
Starbucks posts earnings per share topping Street estimates in the fiscal first quarter.

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