GM workers to receive up to $12,000 in profit sharing payout
Rod Meloni, Reporter, CFP ®
Dave Bartkowiak Jr., Digital Managing Editor
DETROIT – General Motors' hourly UAW workers will get a record profit sharing amount this year after the automaker earned more than $9 billion in 2016.
The hourly UAW workers are expected to receive a maximum payout of $12,000.
Details from GM:
Full-year 2016 Records:
EBIT-adjusted of $12.5 billion, up 15.9 percent
EBIT-adjusted margin of 7.5 percent, up 0.4 percentage points
EPS-diluted of $6.00, up 1.5 percent
EPS-diluted-adjusted of $6.12, up 21.9 percent
Revenue of $166.4 billion, up 9.2 percent
Automotive-adjusted free cash flow of $6.9 billion, up $4.7 billion
North America EBIT-adjusted of $12.0 billion.
Fourth-quarter 2016 Records:
Revenue of $43.9 billion, up 10.8 percent
ROIC-adjusted of 28.9 percent, up from 27.2 percent
Based on GM North America’s 2016 financial performance, approximately 52,000 eligible GM U.S. hourly employees will receive up to a maximum profit sharing payout of $12,000.