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GM swings to a loss in the fourth quarter as 40-day strike erodes profits

February 5, 2020


DETROIT — General Motors lost $194 million in the fourth quarter largely because of the 40-day autoworkers strike that cost it four weeks of vehicle production and eroded any profit.

GM said the strike cost it $2.6 billion in earnings before interest and taxes during the three months ended Dec. 31, shaving $1.39 per share off its EPS on an adjusted basis. The impact for the year was $3.6 billion.

The company still beat Wall Street’s earnings expectations for the fourth quarter, but its revenue came in slightly below expectations.

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