General Motors Company (NYSE:GM) [Detail Analytic Report] moved down in early trading session on Wednesday as it released that 200,656 vehicles in April to individual or “retail” customers, increased 3% year-over-year, driven by an 13 percent increase at Buick, 5 percent increase at GMC and a 4 percent increase at Chevrolet. GM’s Commercial deliveries were up for the 30th consecutive month while daily rental sales were down nearly 18,000 vehicles. GM total sales were down about 4 percent to 259,557 vehicles.
GM reported that has grown retail deliveries year-over-year every month since April 2015 and retail sales during previous 12 months were increased 9%, more than double the industry’s 4 percent increase during that timeframe. Chevrolet was the fastest-growing full-line franchise in the U.S. industry in 2015 and holds that honor again so far this year, based on R.L. Polk retail registrations. Chevrolet had its best April for retail sales since 2006.
The Procter & Gamble Company (NYSE:PG) [Detail Analytic Report] released that firm has delivered its 10B liter of clean drinking water through its non-profit Children’s Safe Drinking Water (CSDW) Program. The program, which started in 2004, works with more than 150 partners and organizations to provide clean drinking water to those who lack access to clean water.
President and CEO, David Taylor stated that they are proud to share P&G’s water purification technology to help transform the lives of millions of people around the world, like Margarita, Gabriel and their children. Clean water can improve people’s health, assist children stay in school, and provide better economic opportunities for their families. They are grateful to all their consumers who support their brands and help them bring clean water to families who need it. For every dollar donated between May 3, 2016 and May 31, 2016, P&G will match with a donation of US$10, up to a total P&G contribution of $1 million dollars, to the Children’s Safe Drinking Water Fund, which is a charitable fund managed by the Greater Cincinnati Foundation. For more information, visit csdw.org.
Archer-Daniels-Midland Company (NYSE:ADM) [Detail Analytic Report] released that its Q1 profit and sales that dropped over anticipated. Earnings for quarter declined to $230M, or 39 cents per share, from $493 million, or 77 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came in at 42 cents, below the FactSet consensus of 45 cents. Revenue fell to $14.38 billion from $17.51 billion, well below the FactSet consensus of $16.85 billion, as agricultural services, oilseeds processing and corn-processing revenue all declined more than expected. Chief Executive Juan Luciano stated that Low U.S. export volumes and weak margins continued, and in the quarter, poor results from worldwide trade desk affected results for [agricultural] services.