General Motors (GM) announced its 2024 financial results, reporting full-year net income attributable to shareholders of $6.0 billion and EBIT-adjusted of $14.9 billion. Fourth-quarter results included a net loss of $3.0 billion, primarily due to over $5 billion in special charges. These charges included $4 billion in non-cash restructuring and impairments related to certain China Joint Ventures, along with $0.5 billion linked to halting funding for the Cruise robotaxi business.

Despite the fourth-quarter challenges, GM exceeded its guidance for adjusted automotive free cash flow, achieving $14.0 billion compared to an expected $12.5-$13.5 billion range. Full-year diluted adjusted EPS came in at $10.60, surpassing its guidance of $10.00-$10.50. Automotive operating cash flow reached $23.9 billion, within the guided range.

Looking ahead to 2025, GM forecasts net income attributable to shareholders of $11.2-$12.5 billion and EBIT-adjusted of $13.7-$15.7 billion. Diluted adjusted EPS is projected between $11.00 and $12.00, with adjusted automotive free cash flow expected in the range of $11.0-$13.0 billion. The company plans capital expenditures of $10.0-$11.0 billion, including investments in battery cell manufacturing joint ventures, and anticipates a $0.5 billion cost reduction at Cruise. These projections assume a stable North American policy environment.