Standard Motors is down 4.fifty nine% at $35.14 after the firm reported fourth-quarter and complete-calendar year 2016 earnings on Tuesday.
The automaker mentioned fourth-quarter web profits fell to $one.19 a share, factoring out just one-time items, in element mainly because of $five hundred million in overseas-exchange losses, and the firm forecast that 2017 revenue would be flat to marginally up from 2016.
The altered result beat analyst anticipations of $one.seventeen a share.
GM forecast altered earnings per share for all of 2017 would vary in between $6.00 and $6.fifty a share, in comparison with $6.twelve a share for all of 2016.
A robust topic in GM’s organization for several a long time has been capital efficiency and the return of capital to shareholders — a topic that defined 2016.
The robust final results for 2016 came on the back of robust revenue, because of in element to low-priced gasoline and an improving financial system.
“GM marketed a history ten million vehicles all around the planet, up one.2% from 2015,” the firm mentioned in a assertion.