Auto Stock Roundup: General Motors’ Earnings Beat, Honda’s Profit Rises

Auto Stock Roundup: General Motors’ Earnings Beat, Honda’s Profit Rises

Honda
Within the Auto sector, a few important companies such as General Motors Company (GM - Free Report) , Penske Automotive Group, Inc. (PAG - Free Report) , Honda Motor Co., Ltd. (HMC - Free Report) , Autoliv, Inc. (ALV - Free Report) and Lear Corporation (LEA - Free Report) have released their earnings in the past week.General Motors reported earnings and revenues beat in the quarter under review. Moreover, both earnings and revenues improved year over year. The quarter witnessed robust performance across all new full-size trucks and crossovers in North America.During the reported quarter, Honda’s profit and revenues improved year over year. .


The year-over-year rise in the revenues of this Japanese automaker can be attributed to higher sales revenues at motorcycle and financial services businesses.While Lear and Penske Automotive reported an earnings beat, Autoliv’s earnings missed the Zacks Consensus Estimate during the quarter under review. Further, on a year-over-year basis, Lear and Penske Automotive’s earnings rose while that of Autoliv declined.Recap of the Week’s Most Important Stories1.    In third-quarter 2018, Lear Corporation reported adjusted earnings per share of $4.09, up 3% from the prior-year quarter figure. The bottom line surpassed the Zacks Consensus Estimate of $3.92. At the end of third-quarter 2018, net income was $252.5 million compared with $295.2 million recorded in the prior-year quarter.During the reported quarter, revenues decreased 2% year over year to $4.89 billion. The top line was almost in line with the Zacks Consensus Estimate. .

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