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Bulletin: General Motors Co. Ratings, Outlook Not Affected By Second-Quarter Earnings Announcement Aug 11
Standard & Poors, Aug 2011
Abstract
NEW YORK (Standard & Poor's) Aug. 4, 2011--Standard & Poor's Ratings Services said today that it views General Motors Co.'s (GM; BB-/Positive/--) second-quarter 2011 earnings, announced today, as consistent with our rating and outlook on the company. The automaker announced a consolidated net income of $2.5 billion for the second quarter, almost double second quarter 2010. Operating results in the quarter were mainly from continued profitability in North America; this region contributed about 76% of adjusted EBIT. North American second-quarter adjusted EBIT was up significantly from the first-quarter 2011 and also up year over year. Second-quarter North American adjusted EBIT margin was 9.7%, up from the 5.7% margin in first-quarter 2011, and also above the 7.9% reported in the second...
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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