GM sees reduced net income but solid third-quarter results

General Motors Co. announced its third quarter net income attributable to common stockholders of $1.4 billion, or $0.81 per diluted share.

A net loss from special items - primarily related to flood damage sustained at the GM Technical Center in Michigan and long-lived asset impairments in Russia - reduced net income by $0.3 billion.

“Strong global sales and growing margins in North America and China helped GM deliver very solid third quarter results,” GM CEO Mary Barra said. “Despite industry challenges in Russia and South America, our earnings were on plan as we continue to execute our customer-focused strategy.”

Earnings before interest and tax adjusted was $2.3 billion this compares to the third quarter of 2013, when the company recorded adjusted earnings at $2.6 billion.

Net revenue in the third quarter of 2014 was $39.3 billion, compared to

$39.0 billion in the third quarter of 2013. In the first nine months of 2014, revenue rose to $116.3 billion, up from $114.9 billion in the same period a year ago, according to a release issued by GM.