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Business Wire
29-04-2025
- Automotive
- Business Wire
GM Financial Reports First Quarter 2025 Operating Results
FORT WORTH, Texas--(BUSINESS WIRE)-- GENERAL MOTORS FINANCIAL COMPANY, INC. ('GM Financial' or the 'Company') announced net income of $499 million for the quarter ended March 31, 2025, compared to $536 million for the quarter ended March 31, 2024. Retail loan originations were $9.6 billion for the quarter ended March 31, 2025, compared to $10.6 billion for the quarter ended December 31, 2024, and $8.3 billion for the quarter ended March 31, 2024. The outstanding balance of retail finance receivables was $77.0 billion at March 31, 2025, compared to $76.1 billion at December 31, 2024 and $73.2 billion at March 31, 2024. Operating lease originations were $5.0 billion for the quarter ended March 31, 2025, compared to $4.9 billion for the quarter ended December 31, 2024, and $4.3 billion for the quarter ended March 31, 2024. Leased vehicles, net was $32.2 billion at March 31, 2025, compared to $31.6 billion at December 31, 2024 and $30.1 billion at March 31, 2024. The outstanding balance of commercial finance receivables was $16.9 billion at March 31, 2025, compared to $19.9 billion at December 31, 2024 and $14.9 billion at March 31, 2024. Retail finance receivables 31-60 days delinquent were 2.2% of the portfolio at March 31, 2025 and 2.0% at March 31, 2024. Accounts more than 60 days delinquent were 0.7% of the portfolio at both March 31, 2025 and March 31, 2024. Annualized net charge-offs were 1.2% of average retail finance receivables for the quarter ended March 31, 2025 and 1.1% for the quarter ended March 31, 2024. The Company had total available liquidity of $37.8 billion at March 31, 2025, consisting of $8.4 billion of cash and cash equivalents, $25.6 billion of borrowing capacity on unpledged eligible assets, $0.8 billion of borrowing capacity on committed unsecured lines of credit, $1.0 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM, and $2.0 billion of borrowing capacity on the GM Revolving 364-Day Credit Facility. About GM Financial General Motors Financial Company, Inc. is the wholly owned captive finance subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. Additional materials addressing the Company's results of operations for the quarter ended March 31, 2025 can be accessed via the Investor Relations section of the Company's website at Condensed Consolidated Balance Sheets (Unaudited, in millions) December 31, 2024 ASSETS Cash and cash equivalents $ 8,444 $ 5,094 Finance receivables, net of allowance for loan losses of $2,567 and $2,458 91,313 93,510 Leased vehicles, net 32,239 31,586 Goodwill and intangible assets 1,172 1,169 Equity in net assets of nonconsolidated affiliates 1,226 1,206 Related party receivables 636 473 Other assets 7,823 7,992 Total assets $ 142,853 $ 141,030 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Secured debt $ 48,886 $ 49,573 Unsecured debt 68,152 64,691 Deferred income 2,425 2,389 Related party payables 132 106 Other liabilities 7,937 9,079 Total liabilities 127,532 125,838 Total shareholders' equity 15,321 15,193 Total liabilities and shareholders' equity $ 142,853 $ 141,030 Amounts may not add due to rounding. Expand Operational and Financial Data (Unaudited, Dollars in millions) Amounts may not add due to rounding Three Months Ended March 31, Originations 2025 2024 Retail finance receivables originations $ 9,564 $ 8,329 Lease originations 4,984 4,308 Total originations $ 14,548 $ 12,637 Expand Three Months Ended March 31, Average Earning Assets 2025 2024 Average retail finance receivables $ 76,940 $ 72,876 Average commercial finance receivables 18,031 14,122 Average finance receivables 94,971 86,998 Average leased vehicles, net 31,941 30,321 Average earning assets $ 126,912 $ 117,319 Expand Ending Earning Assets March 31, 2025 December 31, 2024 Retail finance receivables $ 76,995 $ 76,066 Commercial finance receivables 16,885 19,901 Leased vehicles, net 32,239 31,586 Ending earning assets $ 126,119 $ 127,554 Expand Finance Receivables March 31, 2025 December 31, 2024 Retail Retail finance receivables $ 76,995 $ 76,066 Less: allowance for loan losses (2,479 ) (2,400 ) Total retail finance receivables, net 74,516 73,667 Commercial Commercial finance receivables 16,885 19,901 Less: allowance for loan losses (88 ) (58 ) Total commercial finance receivables, net 16,797 19,843 Total finance receivables, net $ 91,313 $ 93,510 Expand Allowance for Loan Losses March 31, 2025 December 31, 2024 Allowance for loan losses as a percentage of retail finance receivables 3.2 % 3.2 % Allowance for loan losses as a percentage of commercial finance receivables 0.5 % 0.3 % Expand Delinquencies March 31, 2025 March 31, 2024 Loan delinquency as a percentage of retail finance receivables: 31 - 60 days 2.2 % 2.0 % Greater than 60 days 0.7 0.7 Total 2.9 % 2.7 % Expand Three Months Ended March 31, Charge-offs and Recoveries 2025 2024 Charge-offs $ 479 $ 405 Less: recoveries (250 ) (213 ) Net charge-offs $ 229 $ 193 Net charge-offs as an annualized percentage of average retail finance receivables 1.2 % 1.1 % Expand Three Months Ended March 31, Operating Expenses 2025 2024 Operating expenses as an annualized percentage of average earning assets 1.6 % 1.6 % Expand
Yahoo
29-04-2025
- Automotive
- Yahoo
GM Financial Reports First Quarter 2025 Operating Results
First quarter net income of $499 million First quarter retail loan and operating lease originations of $14.5 billion Earning assets of $126.1 billion at March 31, 2025 Available liquidity of $37.8 billion at March 31, 2025 FORT WORTH, Texas, April 29, 2025--(BUSINESS WIRE)--GENERAL MOTORS FINANCIAL COMPANY, INC. ("GM Financial" or the "Company") announced net income of $499 million for the quarter ended March 31, 2025, compared to $536 million for the quarter ended March 31, 2024. Retail loan originations were $9.6 billion for the quarter ended March 31, 2025, compared to $10.6 billion for the quarter ended December 31, 2024, and $8.3 billion for the quarter ended March 31, 2024. The outstanding balance of retail finance receivables was $77.0 billion at March 31, 2025, compared to $76.1 billion at December 31, 2024 and $73.2 billion at March 31, 2024. Operating lease originations were $5.0 billion for the quarter ended March 31, 2025, compared to $4.9 billion for the quarter ended December 31, 2024, and $4.3 billion for the quarter ended March 31, 2024. Leased vehicles, net was $32.2 billion at March 31, 2025, compared to $31.6 billion at December 31, 2024 and $30.1 billion at March 31, 2024. The outstanding balance of commercial finance receivables was $16.9 billion at March 31, 2025, compared to $19.9 billion at December 31, 2024 and $14.9 billion at March 31, 2024. Retail finance receivables 31-60 days delinquent were 2.2% of the portfolio at March 31, 2025 and 2.0% at March 31, 2024. Accounts more than 60 days delinquent were 0.7% of the portfolio at both March 31, 2025 and March 31, 2024. Annualized net charge-offs were 1.2% of average retail finance receivables for the quarter ended March 31, 2025 and 1.1% for the quarter ended March 31, 2024. The Company had total available liquidity of $37.8 billion at March 31, 2025, consisting of $8.4 billion of cash and cash equivalents, $25.6 billion of borrowing capacity on unpledged eligible assets, $0.8 billion of borrowing capacity on committed unsecured lines of credit, $1.0 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM, and $2.0 billion of borrowing capacity on the GM Revolving 364-Day Credit Facility. About GM Financial General Motors Financial Company, Inc. is the wholly owned captive finance subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. Additional materials addressing the Company's results of operations for the quarter ended March 31, 2025 can be accessed via the Investor Relations section of the Company's website at General Motors Financial Company, Inc. Condensed Consolidated Statements of Income (Unaudited, in millions) Three Months Ended March 31, 2025 2024 Revenue Finance charge income $ 2,025 $ 1,786 Leased vehicle income 1,902 1,800 Other income 236 225 Total revenue 4,164 3,811 Costs and expenses Operating expenses 513 458 Leased vehicle expenses 1,054 1,047 Provision for loan losses 328 204 Interest expense 1,597 1,396 Total costs and expenses 3,491 3,106 Equity income (loss) 12 32 Income (loss) before income taxes 685 737 Income tax expense (benefit) 186 200 Net income (loss) 499 536 Less: cumulative dividends on preferred stock 30 30 Net income (loss) attributable to common shareholder $ 470 $ 507 Amounts may not add due to rounding. Condensed Consolidated Balance Sheets (Unaudited, in millions) March 31, 2025 December 31, 2024 ASSETS Cash and cash equivalents $ 8,444 $ 5,094 Finance receivables, net of allowance for loan losses of $2,567 and $2,458 91,313 93,510 Leased vehicles, net 32,239 31,586 Goodwill and intangible assets 1,172 1,169 Equity in net assets of nonconsolidated affiliates 1,226 1,206 Related party receivables 636 473 Other assets 7,823 7,992 Total assets $ 142,853 $ 141,030 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Secured debt $ 48,886 $ 49,573 Unsecured debt 68,152 64,691 Deferred income 2,425 2,389 Related party payables 132 106 Other liabilities 7,937 9,079 Total liabilities 127,532 125,838 Total shareholders' equity 15,321 15,193 Total liabilities and shareholders' equity $ 142,853 $ 141,030 Amounts may not add due to rounding. Operational and Financial Data (Unaudited, Dollars in millions) Amounts may not add due to rounding Three Months Ended March 31, Originations 2025 2024 Retail finance receivables originations $ 9,564 $ 8,329 Lease originations 4,984 4,308 Total originations $ 14,548 $ 12,637 Three Months Ended March 31, Average Earning Assets 2025 2024 Average retail finance receivables $ 76,940 $ 72,876 Average commercial finance receivables 18,031 14,122 Average finance receivables 94,971 86,998 Average leased vehicles, net 31,941 30,321 Average earning assets $ 126,912 $ 117,319 Ending Earning Assets March 31, 2025 December 31, 2024 Retail finance receivables $ 76,995 $ 76,066 Commercial finance receivables 16,885 19,901 Leased vehicles, net 32,239 31,586 Ending earning assets $ 126,119 $ 127,554 Finance Receivables March 31, 2025 December 31, 2024 Retail Retail finance receivables $ 76,995 $ 76,066 Less: allowance for loan losses (2,479 ) (2,400 ) Total retail finance receivables, net 74,516 73,667 Commercial Commercial finance receivables 16,885 19,901 Less: allowance for loan losses (88 ) (58 ) Total commercial finance receivables, net 16,797 19,843 Total finance receivables, net $ 91,313 $ 93,510 Allowance for Loan Losses March 31, 2025 December 31, 2024 Allowance for loan losses as a percentage of retail finance receivables 3.2 % 3.2 % Allowance for loan losses as a percentage of commercial finance receivables 0.5 % 0.3 % Delinquencies March 31, 2025 March 31, 2024 Loan delinquency as a percentage of retail finance receivables: 31 - 60 days 2.2 % 2.0 % Greater than 60 days 0.7 0.7 Total 2.9 % 2.7 % Three Months Ended March 31, Charge-offs and Recoveries 2025 2024 Charge-offs $ 479 $ 405 Less: recoveries (250 ) (213 ) Net charge-offs $ 229 $ 193 Net charge-offs as an annualized percentage of average retail finance receivables 1.2 % 1.1 % Three Months Ended March 31, Operating Expenses 2025 2024 Operating expenses as an annualized percentage of average earning assets 1.6 % 1.6 % View source version on Contacts Investor Relations contact:Meagan TrampeVice President, Investor Relations(817) 302-7385Investors@
