General Motor releases 3rd quarter results

General Motors Co. (NYSE: GM) has announced its Q3 2021 earnings, including strong performance mix and price in North America, continued solid results from GM Financial, and the benefit of the recall cost recovery agreement with LG Electronics.

General Motors reported revenue of $26.779 billion in Q3

The company reported revenue of $26.77 billion, a drop from $35.48 billion a year ago. General Motors reported adjusted diluted earnings per share of $1.52 during the quarter compared to $2.83 a year before.

GM CEO and Chair Mary Barra told shareholders in a letter:

Barra explained:

Owing to the exceptional performance during the quarter, the company has revised its full-year guidance and now expects diluted EPS between $5.52 and $6.52 and adjusted diluted EPS of between $5.70 and $6.70.

The CEO stated:

General Motors increasing efforts to produce EV

The company is committed to its goal of being a leader in the US EV sector. General Motors is targeting having its four battery cell plants in the US operational by mid-decade, which will double the overall scale and capacity of EV production. Additionally, the company is planning to manufacture EV motors and its first EV dedicated truck plant in the US. Barra said: