Fgts Posted July 21, 2016 Share Posted July 21, 2016 http://www.detroitnews.com/story/business/autos/general-motors/2016/07/21/gm-earns-second-quarter/87369466/ $2.8 billion bones and with a reduced marketshare.. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted July 21, 2016 Share Posted July 21, 2016 GM noted that the impact from the United Kingdom’s vote to leave the European Union could cost the company $400 million in the second half of 2016, leaving its goal for breaking even in Europe this year in doubt Yeah yeah yeah. It's always something. Fifteen years and they haven't turned a profit in Europe, and there's always some excuse. How about this theory: GM has no clue how to turn a profit in Europe. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted July 21, 2016 Share Posted July 21, 2016 And as I've pointed out before, GM's habit of dismissing interest payments from its 'adjusted' quarterly results is disingenuous to the extreme. EBT is okay. GAAP is best. And the more initials you have after "EB" the more questionable your results are. Quote Link to comment Share on other sites More sharing options...
aneekr Posted July 21, 2016 Share Posted July 21, 2016 Yeah yeah yeah. It's always something. Fifteen years and they haven't turned a profit in Europe, and there's always some excuse. How about this theory: GM has no clue how to turn a profit in Europe. Page 11 of the GM Q2 2016 earnings deck states, "GME returned to profitability and recorded its second straight quarter of break-even or better results." Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted July 21, 2016 Share Posted July 21, 2016 Page 11 of the GM Q2 2016 earnings deck states, "GME returned to profitability and recorded its second straight quarter of break-even or better results." Full year profits. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted July 22, 2016 Share Posted July 22, 2016 (edited) It was a good result for GM but , does anyone think that Ford will go close to matching GM even with less total sales and higher fleet percentage? Considering that Ford's Q1 result was $3.8 B and $2,5 B after tax with a lot less sales, it more likely that Ford's second quarter will be much stronger Edited July 22, 2016 by jpd80 Quote Link to comment Share on other sites More sharing options...
Biker16 Posted July 25, 2016 Share Posted July 25, 2016 Yeah yeah yeah. It's always something. Fifteen years and they haven't turned a profit in Europe, and there's always some excuse. How about this theory: GM has no clue how to turn a profit in Europe. And as I've pointed out before, GM's habit of dismissing interest payments from its 'adjusted' quarterly results is disingenuous to the extreme. EBT is okay. GAAP is best. And the more initials you have after "EB" the more questionable your results are. Full year profits. Negative Ned. Quote Link to comment Share on other sites More sharing options...
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