General Motors Company (NYSE: GM ) shares are trading lower in the premarket session on Tuesday.

The automotive behemoth reported adjusted earnings per share of $1.92 in the fourth quarter, beating the street view of $1.86. Quarterly sales of $47.70 billion (+11%) outpaced the analyst consensus estimate of $43.606 billion.

The company’s automotive operating cash flow in the quarter under review rose 1.6% year over year to $4.765 billion.

Fourth-quarter net income of General Motors dropped by over $5 billion due to special charges.

This included $4 billion in non-cash restructuring charges and impairment of China joint ventures.

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Additionally, $0.5 billion in charges came from halting funding for the Cruise robotaxi business.

General Motors reported a full-year 2024 net income of $6.0 billion and adjusted EBIT of $14.9 billion.

The company exited the quarter with cash and equivalents worth $22.964 billion.

Dividend : General Motors declared a quarterly cash dividend on the company’s outstanding common stock of $0.12 per share, payable March 20, 2025.

Outlook: For FY25, the company sees adjusted earnings per share of $11-$12 versus the street view of $10.84.

Automotive operating cash flow is projected in the range of $21 billion-$24 billion.

The company’s 2025 financial guidance assumes a stable policy environment in North America and an estimated benefit of $0.5 billion from reduced year-over-year expenses at Cruise. The financial guidance also includes anticipated capital spending of $10.0 billion – $11.0 billion, inclusive of investments in the company’s battery cell manufacturing joint ventures.

Price Action: GM shares are trading lower by 0.95% to $54.40 premarket at last check Tuesday.

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This article General Motors Q4 Earnings: Revenue And EPS Beat, Takes $5 Billion Hit On China & Robotaxi Woes originally appeared on Benzinga.com

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