GM Delivers Another Year of Excellent Results
General Motors (NYSE: GM) has faced huge challenges over the past three years. In late 2019, a six-week UAW strike made a significant dent in the General's production, revenue, earnings, and cash flow. In 2020, factory closures related to the COVID-19 pandemic had an even greater impact on those metrics. Last year, the global semiconductor shortage had a similar effect.
Nevertheless, GM managed to post record earnings and solidly positive free cash flow in 2021. The company is on track for an even better all-around performance in 2022. Moreover, it has strong long-term growth potential thanks to its aggressive investments in electric vehicles (EVs) and autonomous vehicles (AVs).
In the fourth quarter, General Motors generated an adjusted operating profit of $2.8 billion and adjusted earnings per share (EPS) of $1.35. This comfortably beat the Wall Street analyst consensus of $1.19. It also beat the company's guidance, which had already been increased once during the quarter.
Source Fool.com
