"Special Items" Result In GM Earning Half What Analysts Predict In Q3

General Motors Co. said Wednesday it earned $698 million or 45 cents a share in the third quarter, as special items totaling 51 cents a share drove down earnings despite improved performance from the company’s operations.

GM earned $1.5 billion or 89 cents a share in the third quarter last year; special items cut net income by about $100 million or 4 cents a share.

Taking out special items that totaled $900 million, including $800 million to repurchase 120 million shares of preferred stock from the UAW Retiree Medical Benefits Trust (UAW VEBA), GM slightly beat analyst expectations by earning 96 cents a share.


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