General Motors Company GM reported first-quarter 2018 adjusted earnings per share of $1.43, down 18.3% from the prior-year quarter. However, the bottom line comfortably beat the Zacks Consensus Estimate of $1.22. General Motors' crossover sales in first-quarter 2018 rose 23% on a year-over-year basis.
General Motors reported revenues of $36.1 billion, reflecting a decline of 3.1% from the year-ago quarter. However, revenues surpassed the Zacks Consensus Estimate of $34.1 billion.
During the reported quarter, total sales for the wholesale unit declined to 1.16 million from 1.24 million in the first quarter of 2017. Worldwide retail-unit sales decreased to 2.10 million from 2.34 million in the year-ago quarter. The automaker's global market share was 11.4% during the reported quarter, reflecting a decline from 11.6% in the year-ago quarter. Segment Results
GM North America (GMNA) generated net sales and revenues of $27.8 billion during the first quarter of 2018, down from $29.3 billion recorded in first-quarter 2017.
GM International (GMI) net sales and revenues were $4.8 billion, declining from $5.14 billion in the year-ago quarter.
GM Financial generated net sales and revenues of $3.41 billion during the quarter under review, reflecting an increase from $2.7 billion recorded in the year-ago quarter. Financial Position
General Motors had cash and cash equivalents of $14.3 billion as of Mar 31, 2018, compared with $15.5 billion as of Dec 31, 2017.
First-quarter 2018, adjusted automotive free cash flow during the reported quarter was $3.5 billion versus $583 million recorded in the prior-year quarter. Zacks Rank
General Motors carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space include Fox Factory Holding Corp. FOXF
, Allison Transmission Holdings, Inc. ALSN
and Honda Motor Co., Ltd. HMC
, each carrying a Zacks Rank #2 (Buy).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here
Fox Factory Holding has expected long-term growth rate of 10.5%. In the past year, shares of the company have returned 14.2%.
Allison Transmission has expected long-term growth rate of 10%. In a year, shares of the company have advanced 0.7%.
Honda has an expected long-term growth rate of 4.8%. In a year, shares of the company have returned 19.2%.
Price, Consensus and EPS Surprise
Price, Consensus and EPS Surprise | Quote
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Motors Company (GM): Free Stock Analysis Report Fox Factory Holding Corp. (FOXF): Free Stock Analysis Report Honda Motor Co., Ltd. (HMC): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report To read this article on Zacks.com click here.