General Motors Company (NYSE:GM) Q4 2014 Earnings Conference Call - Final Transcript

Feb 04, 2015 • 10:00 am ET

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General Motors Company (NYSE:GM) Q4 2014 Earnings Conference Call - Final Transcript

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Presentation
Operator
operator

Ladies and gentlemen, thank you for standing by. Welcome to the General Motors Company Fourth Quarter 2014 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions]As a reminder, this conference is being recorded, Wednesday, February 4, 2015. I would now like to turn the conference over to Randy Arickx, Executive Director of Communications and Investor Relations. Please go ahead, sir.

Executive
Randy Arickx

Thanks, Operator. Good morning. And thank you for joining us as we review the GM financial results for the 2014 fourth quarter and calendar year. Our press release was issued this morning and the conference call materials are available on the Investor Relations website. We are also broadcasting this call via the Internet. Before we begin, I would like to direct your attention to the legend regarding forward-looking statements on the first page of the chart set. The content of our call will be governed by this language.

This morning, Mary Barra, General Motors' Chief Executive Officer will provide opening remarks followed by a review of the financial results with Chuck Stevens, Executive Vice President and CFO. After the presentation portion of the call, we'll open the line for questions from the analyst community. Marry Barra will then conclude the call with some closing remarks.In the room today, we also have Tom Timko, Vice President, Controller and Chief Accounting Officer; and Niharika Ramdev, Vice President, Finance and Treasurer, to assist and answering your questions.

Now, I'd like to turn the call over to Mary Barra.

Executive
Mary Barra

Thanks, Randy, and thanks to everyone joining the call today. Over the last couple of months, we have several opportunities to talk to you in detail about our strategy to create shareholder value, including our operating strategy, the investments we are making in our brand, technology and innovation, as well as our financial targets. At our Global Business Conference in October, we affirmed our mid-decade targets and outlined strategies to deliver 9% to 10% EBIT adjusted margins by early next decade.

At the Deutsche Bank Auto Conference last month, we affirmed that we were on track to deliver strong operating results in 2014 and we shared our outlook for 2015. This outlook includes year-over-year improvement in all of our automotive regions with higher EBIT adjusted and stronger margins.Today, we are reporting fourth quarter and full year 2014 results that demonstrate continued strong core operating performance. This is especially true in North America and China where we are busy -- where our business is highly profitable and growing. It's also true

Executive
Mary Barra

other regions around the world where we are managing through very difficult market conditions and building a solid foundation for profitable growth. As we execute our plans, we are focused on generating the level of earnings, margin and cash flow that will make us the most valued automaker for our owners. Our strategy is also designed to support a strong and growing dividend and consistent with our strong core operating performance, we