Monday, March 4, 2013

General Motors Swings to $1.66 Q1 EPS

General Motors, which is still privately held, this morning announced a $1.2 billion operation profit on sales of $31.5 billion, a big improvement from a loss of $3.4 billion a year earlier for the “Old GM.”

Net income per share came in at $1.66 and the company generated free cash flow of $1 billion after spending $700 million on capital projects to end the quarter with $35.7 billion in cash and equivalents and marketable securities.

Shares of publicly traded auto makers are mixed, meantime, with Ford (F) off 24 cents, or 2%, at �$11.87, but�Toyota Motors (TM) up $1.42, or 2%, at $76.90, and Honda Motor (HMC) up 23 cents, or 0.7%, at $32.36.

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