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GM Financial Reports March Quarter 2018 Operating ResultsGENERAL MOTORS FINANCIAL COMPANY, INC. ("GM Financial" or the "Company") announced net income of $369 million for the quarter ended March 31, 2018, compared to $202 million for the quarter ended March 31, 2017. Retail loan originations were $5.1 billion for the quarter ended March 31, 2018, compared to $4.4 billion for the quarter ended December 31, 2017, and $5.6 billion for the quarter ended March 31, 2017. The outstanding balance of retail finance receivables was $34.3 billion at March 31, 2018. Operating lease originations were $5.7 billion for the quarter ended March 31, 2018, compared to $5.8 billion for the quarter ended December 31, 2017, and $6.3 billion for the quarter ended March 31, 2017. Leased vehicles, net was $43.4 billion at March 31, 2018. The outstanding balance of commercial finance receivables was $10.4 billion at March 31, 2018, compared to $10.3 billion at December 31, 2017 and $8.5 billion at March 31, 2017. Retail finance receivables 31-60 days delinquent were 3.7% of the portfolio at March 31, 2018 and 3.4% at March 31, 2017. Accounts more than 60 days delinquent were 1.7% of the portfolio at March 31, 2018 and 1.4% at March 31, 2017. Annualized net charge-offs were 2.1% of average retail finance receivables for the quarter ended March 31, 2018 and 2.3% for the quarter ended March 31, 2017. The Company had total available liquidity of $19.4 billion at March 31, 2018, consisting of $4.2 billion of cash and cash equivalents, $14.1 billion of borrowing capacity on unpledged eligible assets, $0.1 billion of borrowing capacity on committed unsecured lines of credit and $1.0 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM. Earnings resulting from the Company's equity investment in SAIC (News - Alert)-GMAC, a joint venture that conducts auto finance operations in China, were $52 million for the quarter ended March 31, 2018 compared to $47 million for the quarter ended March 31, 2017. Operating Results On October 31, 2017, we completed the sale of certain of our European subsidiaries and branches (collectively, the "European Operations") to Banque PSA Finance S.A. and BNP Paribas Personal Finance S.A. The European Operations are presented as discontinued operations in our condensed consolidated financial statements for the three months ended March 31, 2017. Unless otherwise indicated, information in this release relates to our continuing operations. About GM Financial General Motors (News - Alert) Financial Company, Inc. is the wholly-owned captive finance subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. For more information, visit www.gmfinancial.com. Forward-Looking Statements This presentation contains several "forward-looking statements." Forward-looking statements are those that use words such as "believe," "expect," "intend," "plan," "may," "likely," "should," "estimate," "continue," "future" or "anticipate" and other comparable expressions. These words indicate future events and trends. Forward-looking statements are our current views with respect to future events and financial performance. These forward-looking statements are subject to many assumptions, risks and uncertainties that could cause actual results to differ significantly from historical results or from those anticipated by us. The most significant risks are detailed from time to time in our filings and reports with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2017. Such risks include - but are not limited to - GM's ability to sell new vehicles that we finance in the markets we serve; the viability of GM-franchised dealers that are commercial loan customers; the availability and cost of sources of financing; our joint venture in China, which we cannot operate solely for our benefit and over which we have limited control; the level of net charge-offs, delinquencies and prepayments on the loans and leases we originate; the effect, interpretation or application of new or existing laws, regulations, court decisions and accounting pronouncements; the prices at which used cars are sold in the wholesale auction markets; vehicle return rates and the residual value performance on vehicles we lease; interest rate fluctuations and certain related derivatives exposure; foreign currency exchange rate fluctuations; our financial condition and liquidity, as well as future cash flows and earnings; changes in general economic and business conditions; competition; our ability to manage risks related to security breaches and other disruptions to our networks and systems; and changes in business strategy, including expansion of product lines and credit risk appetite, acquisitions and divestitures. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected. It is advisable not to place undue reliance on any forward-looking statements. We undertake no obligation to, and do not, publicly update or revise any forward-looking statements, except as required by federal securities laws, whether as a result of new information, future events or otherwise.
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