GM Reports Strong 2020 Full-Year and Fourth-Quarter Results

General Motors Co. (NYSE: GM) today reported strong 2020 full-year and fourth quarter earnings despite production interruptions caused by the COVID-19 pandemic and the impact of the Takata airbag-inflator recall announced in November.

Click here to download GM Chairman and CEO Mary Barra’s letter to shareholders.

Barra and Chief Financial Officer Paul Jacobson will host a conference call for investors and analysts at 10 a.m. ET today to discuss these results and the company’s growth strategy. Introductory remarks will be followed by a question-and-answer session.

Those who wish to listen to the call may dial in using the following numbers:

• United States: 1-888-808-8618
• International: +1-949-484-0645
• Name of call: GM Earnings Call

Full-year 2020 highlights:

• EPS-diluted of $4.33, and EPS-diluted-adjusted of $4.90*
• Full-year income of $6.4 billion, and EBIT-adjusted of $9.7 billion
• Full-year EBIT-adjusted margin of 7.9 percent
• Full-year automotive operating cash flow of $7.5 billion, and adjusted automotive free cash flow of
  $2.6 billion
• GM North America full-year EBIT-adjusted of $9.1 billion, and EBIT-adjusted margin of 9.4 percent
• GM International full-year EBIT-adjusted of $(0.5) billion
  • China Equity Income of $0.5 billion
• Cruise full-year EBIT-adjusted of $(0.9) billion
• GM Financial reported record full-year EBT-adjusted of $2.7 billion

Fourth-quarter 2020 highlights:

• EPS-diluted of $1.93, and EPS-diluted-adjusted of $1.93**
• Fourth-quarter income of $2.8 billion, and EBIT-adjusted of $3.7 billion
• Fourth-quarter EBIT-adjusted margin of 9.9 percent
• Fourth-quarter automotive operating cash flow of $5.2 billion, and adjusted automotive free cash flow of $3.4 billion
• GM North America fourth-quarter EBIT-adjusted of $2.6 billion, and EBIT-adjusted margin of 8.7 percent

*EPS-diluted and EPS-diluted-adjusted include a $0.12 gain from investments in PSA, Lyft and Lordstown Motor Corporation (LMC),
and a negative impact of $(0.59) from the Takata Corp. airbag-inflator recall.
**EPS-diluted and EPS-diluted-adjusted include a $0.26 gain from investments in PSA and LMC, and a negative impact of ($0.59)
from the Takata Corp. airbag-inflator recall.

• GM International fourth-quarter EBIT-adjusted of $0.3 billion
  • China Equity Income of $0.2 billion
• Cruise fourth-quarter EBIT-adjusted of $(0.3) billion
• GM Financial reported record fourth-quarter EBT-adjusted of $1.0 billion

See below for reconciliations of non-GAAP measures to their most directly comparable GAAP measures or visit the GM Investor Relations website for complete details.