09:08 AM EST, 01/28/2025 (MT Newswires) -- General Motors ( GM ) issued an upbeat full-year earnings outlook on Tuesday as the automaker's fourth-quarter results topped market expectations.

The company anticipates adjusted earnings to be in a range of $11 to $12 for 2025, while the current consensus on FactSet is for $10.86. In the previous year, adjusted EPS jumped 38% year over year to $10.60. Adjusted earnings before interest and taxes is pegged at $13.7 billion to $15.7 billion, compared with 2024's figure of $14.9 billion.

The guidance assumes a stable policy environment in North America and an estimated benefit of $500 million from reduced expenses linked to the company's now-scrapped Cruise robotaxi program. General Motors ( GM ) announced in December that it will no longer fund the robotaxi development work at Cruise. Capital spending is expected between $10 billion to $11 billion for the current year.

"The turnaround story for (General Motors ( GM )) continues with management successfully balancing production and profitability to generate durable profitable growth over the coming years," Wedbush Securities said in a Tuesday client note. "The mojo is returning to the 313 with GM having strong tailwinds into 2025 despite (electric vehicle) tax credit uncertainty."

For the December quarter, the automaker's adjusted EPS rose to $1.92 from $1.24 last year, ahead of the Street's view for $1.85. Revenue advanced 11% year over year to $47.7 billion, surpassing the average analyst estimate of $44.98 billion. Net income in the quarter saw a headwind of over $5 billion in special charges amid $4 billion of non-cash restructuring charges and impairment of the company's interests in certain China joint ventures.

Revenue in North America climbed to $39.53 billion from $35.23 billion in the 2024 quarter, while international sales edged up to $3.99 billion from $3.94 billion. Global deliveries increased to 1.75 million vehicles from 1.48 million in the previous three-month period and 1.61 million units last year, according to an investor presentation. Deliveries in the US market inclined to 755,000 units from 625,000 vehicles last year.

GM's North America market share moved up to 16.6% from 15.1% in the prior-year period and inched higher to 7.1% from 7% on a worldwide basis. "We doubled our EV market share over the course of the year as we scaled production, and our portfolio became variable profit positive in the fourth quarter," Chief Executive Mary Barra said in a letter to shareholders.

"As we look to the year ahead, we will continue to allocate capital consistently and in a balanced manner, and our vehicle portfolio will continue to get stronger," according to Barra.