This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

General Motors' CEO Discusses Q1 2012 Results - Earnings Call Transcript

This morning, Dan Akerson, General Motors' Chairman and CEO, will provide opening remarks, followed by a more detailed review by Dan Ammann, Senior Vice President and CFO. Dan Akerson will then conclude the remarks portion of our call with some closing remarks. After the presentation portion of the call, we will open the line for questions from security analysts.

Also, in the room today, we have Nick Cyprus, Vice President, Controller and Chief Accounting Officer; Jim Davlin, Vice President Finance and Treasurer; and Chuck Stevens, CFO North America and South America, to assist in answering your questions.

With that, I'd like to turn the call over to Dan Akerson.

Daniel F. Akerson

Thanks, Randy, and thank you to everyone on the call for joining us. General Motors had another solid quarter. Our EBIT adjusted results are strong. We had product success stories in every region of the world, especially with Chevrolet. Among the 20 largest automotive brands in the world, Chevrolet has been the fastest-growing for the last 2 calendar years.

Big marketplace wins like these are happening because we continue to advance the 4 strategies that are the foundation of how we run the business. Simply put, they are designed to build the world's best vehicles, strengthen our brands, grow profitably around the world and maintain our fortress balance sheet. We made good progress on this strategy last year, and we didn't let up in the first quarter of this year either.

I'll review each of the highlights through my remarks. But as you hear them, remember this. This management team is not getting ahead of ourselves. We are confident in our plan. We're pleased with the progress in most areas, and we have internal issues we're fixing. We're not immune to the industry issues like recession or overcapacity in Europe or competition that's intensifying everywhere we do business. Everyday, we keep our teams focused on these cold hard facts because it instills discipline, and discipline helps deliver better results.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs