The FINANCIAL - GM posts $9.43B in net profits for 2016

GM posts $9.43B in net profits for 2016

GM posts $9.43B in net profits for 2016

The FINANCIAL -- General Motors Co. on February 7 announced record full-year 2016 results driven by strong retail demand for full-size trucks and SUVs in the United States, continued industry growth in China and effective cost performance across the globe.

Full-year 2016 Records:

EBIT-adjusted of $12.5 billion, up 15.9 percent

EBIT-adjusted margin of 7.5 percent, up 0.4 percentage points

EPS-diluted of $6.00, up 1.5 percent

EPS-diluted-adjusted of $6.12, up 21.9 percent

Revenue of $166.4 billion, up 9.2 percent

Automotive-adjusted free cash flow of $6.9 billion, up $4.7 billion

North America EBIT-adjusted of $12.0 billion.

Fourth-quarter 2016 Records:

Revenue of $43.9 billion, up 10.8 percent

ROIC-adjusted of 28.9 percent, up from 27.2 percent

Based on GM North America’s 2016 financial performance, approximately 52,000 eligible GM U.S. hourly employees will receive up to a maximum profit sharing payout of $12,000.