Company News

BUZZ-GM: Gains on another strong profit beat

** Shares of General Motors Co up 3 pct in early trade, adding to gains after beating Q4 profit estimates

** GM has now topped EPS estimates for at least nine qtrs in a row and the ~17 pct beat in Q4 is the seventh time it has exceeded estimates by 12 pct or more - Refinitiv data

** GM posts Q4 GAAP profit vs yr-ago loss on cost cuts and strong U.S. sales of high-margin pickup trucks, crossovers that helped overcome a drop in overall vehicles sales

** Automaker also maintains the 2019 adj. EPS forecast of $6.50-$7.00 it gave on Jan. 11, while Street estimates have risen to $6.39 from $5.86 during the period

** GM stock has risen 17.5 pct YTD, outpacing Ford Motor Co , Tesla Inc, Hyundai Motor Co, Toyota Motor Corp, Daimler AG and Nissan Motor Co

** Only Ferrari NV and Fiat Chrysler NV have risen more in 2019

** GM trades at 6.2x next 12 month EPS estimates, cheaper than Ford (7.1x) and all other automakers, except Fiat Chrysler (4.7x) - Refinitiv data (Reporting by Savio D’Souza)