GM Earnings Plummet 8.4% In Q3 - Strike Costs Rise To $3 Billion

General Motors on Tuesday said its third-quarter net income fell 8.7 percent from a year earlier to $2.3 billion, including a $1 billion hit from the first two weeks of the UAW's strike.

GM said it expects the 40-day strike, which ended last Friday after workers ratified a new four-year contract, to reduce 2019 earnings by about $2 per share, or nearly $3 billion. The last four weeks of the strike were in the fourth quarter.

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dlin - 10/29/2019 1:50:51 PM

+6 Boost

Should the government bail it out again with our money in the next recession?

N OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

vdiv - 10/29/2019 2:13:27 PM

+3 Boost

One disaster after another. Do you think this is it for Mary Barra as a CEO?

MDarringer - 10/30/2019 8:33:49 AM

0 Boost

The bitch botched this. She should have waited the UAW out. When the UAW reached an agreement but would not call off the people on strike, she should have withdrawn the agreement. When the UAW did not like the GM proposal, she should have returned with one that was much more dire.

MrEE - 10/30/2019 5:41:25 PM

+2 Boost

Mostly allowed the reduction of excess inventory. Little true lost sales. Real lost will be going forward for labor cost.