=General Motors (GM) reported earnings on Tue 7 Feb 2017 (b/o)

General Motors beats by $0.11, beats on revs; reaffirms FY17 EPS guidance :

• Reports Q4 (Dec) earnings of $1.28 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus of $1.17; auto revenue rose 9.2% year/year to $41.23 bln vs the $40.08 bln Capital IQ Consensus. 
• GM guided FY16 EPS at high end of $5.50-6.00 range on Jan 10.
• For the year ended Dec. 31, 2016, GM sold a record 10 million vehicles around the world, up 1.2 percent from 2015. In Q4, GM sold 2.78 million vehicles, up 3.3 percent compared to Q4 2015. December 2016 global volume of 1.05 million units was the highest in the company's history, capping the fourth consecutive record year for global deliveries.
• Co reaffirms guidance for FY17, sees EPS of $6.00-6.50, excluding non-recurring items, vs. $6.14 Capital IQ Consensus; maintain or improve EBIT-adjusted and EBIT-adjusted margin; and generate higher revenues, compared to 2016. The co also expects to generate about $15 billion in automotive operating cash flow and about $6 billion in adj. automotive free cash flow.
• GM expects its global volume from new or refreshed vehicles to grow to 38 percent from 2017-2020, up from 26 percent in the 2011-2016 period. New or refreshed crossovers, trucks and SUVs are expected to represent a majority of this volume between 2017-2020.
• The co raised its cost efficiency target for 2015-2018 to $6.5 billion, an increase of $1 billion.
• Peers: Ford (F), FCA (FCAU), Toyota (TM).