GM to release first earnings statement since coming out of bankruptcy

Next week, General Motors Company will release its first earnings statement since it came out of bankruptcy court on July 10. The announcement on the company’s third-quarter earnings will be made Monday Nov. 16 at 7 a.m. eastern time.

The Detroit automaker has been operating on $50 billion in government loans. During a press briefing on Nov. 5, CEO Fritz Henderson said that GM was on track to outperform the targets it had originally set in a plan submitted to the U.S. Treasury in April.

“I’m not going to get into whether we’re generating cash or not generating cash, but I would certainly say the situation is more stable than what the outlook was even just two months ago,” Henderson said.

– By: Stephen Calogera