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Bulletin: General Motors Co. First-Quarter 2011 Results Do Not Affect Ratings Or Outlook May 11 Product Image

Bulletin: General Motors Co. First-Quarter 2011 Results Do Not Affect Ratings Or Outlook May 11

  • ID: 1771619
  • May 2011
  • Standard & Poors

NEW YORK (Standard & Poor's) May 5, 2011--Standard & Poor's Ratings Services said today that it views General Motors Co.'s (GM; BB-/Positive/--) first-quarter 2011 earnings, announced today, as consistent with our rating and outlook on the company. The automaker announced a consolidated net income of $3.2 billion for the first quarter, including $1.5 billion of net gains. Operating results in the quarter benefited from continued profitability in North America; first-quarter adjusted EBIT was up slightly above the first-quarter 2010 level. However, first-quarter North American adjusted EBIT margin was 5.9%, down from the 6.2% margin in first-quarter 2010, but above the 3.6% reported in the fourth quarter. Global adjusted EBIT margin in the first quarter was 5.5%, about the same as...

Companies mentioned in this report are:
- General Motors Co.

Action: Bulletin

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
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