General Motors Company GM reported second-quarter 2018 adjusted earnings per share of $1.81, down 4.2% from the prior-year quarter. The bottom line also lagged the Zacks Consensus Estimate of $1.84. Significant rise in commodity costs and unfavorable foreign exchange adversely affected the results.

General Motors reported revenues of $36.8 billion, down 0.6% from the year-ago quarter figure. Further, revenues came in lower than the Zacks Consensus Estimate of $37 billion.

During the last reported quarter, total sales for the wholesale unit declined to 1.20 million from 1.21 million in the second quarter of 2017. Worldwide retail-unit sales decreased to 2.06 million from 2.34 million in the year-ago quarter. The automaker’s global market share was 8.6% during the reported quarter, reflecting a decline from 10.2% in the year-ago quarter.

General Motors Company Price, Consensus and EPS Surprise

Segment Results

GM North America (GMNA) generated net sales and revenues of $28.5 billion during the second quarter of 2018, marginally up from $28.4 billion recorded in second-quarter 2017.

GM International (GMI) net sales and revenues were $4.8 billion, declining from $5.5 billion in the year-ago quarter.

GM Financial generated net sales and revenues of $3.5 billion during the quarter under review, reflecting an increase from $3 billion recorded in the year-ago quarter.

Financial Position

General Motors had cash and cash equivalents of $15.1 billion as of Jun 30, 2018, compared with $15.5 billion as of Dec 31, 2017.

Second-quarter 2018, adjusted automotive free cash flow during the reported quarter was $2.6 billion compared with $2.3 billion recorded in the prior-year quarter.

General Motors carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) , AB Volvo (VLVLY - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) , each carrying a Zacks Rank #2. 

Oshkosh has an expected long-term growth rate of 18.3%. Over the past year, shares of the company have moved up 3.2%.

AB Volvo has an expected long-term growth rate of 15%. Over the past year, shares of the company have gained 1%.

Fox Factory has an expected long-term growth rate of 15.8%. Shares of the company have risen 34.6% over the past year.