General Motors Co. (NYSE: GM) reported first-quarter 2015 results before markets opened Thursday morning. The automaker posted adjusted diluted earnings per share (EPS) of $0.86 on revenues of $35.7 billion. In the same period a year ago, the company reported EPS of $0.29 on revenues of $37.41 billion. First-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.97 and $37.61 billion in revenues.

On a GAAP basis, GM’s EPS in the quarter were $0.56, which included $400 million related to the decision to change the company’s business model in Russia and $100 million for an adjustment to the estimated costs of the ignition switch compensation program.

North American first quarter EBIT-adjusted earnings rose to $2.2 billion from $600 million in the year-ago quarter. Last year’s earnings included $1.3 billion in pretax recall-related charges. GM’s losses in Europe totaled $200 million, compared with a loss a year ago of $300 million. International pretax earnings rose from $300 million a year ago to $400 million.

The company’s CEO said:

Our results in the first quarter provide a solid foundation to achieve our financial commitments for the year. Continued execution of our plan, including our capital allocation framework, will drive profitable growth, return on invested capital and shareholder value.”

The company continues to expect total EBIT-adjusted margin to increase in 2015 after adjusting 2014 for recall costs. GM anticipates improved automotive results in all regions. The consensus estimate for the second quarter calls for EPS of $1.24 on revenues of $40.4 billion. Full-year 2015 EPS is estimated at $4.66, on revenues of $159.11 billion.

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North American unit sales rose from 745,000 in the first quarter a year ago to 790,000, but European sales fell from 337,000 to 292,000. Worldwide sales slipped from 2.416 million last year to 2.399 million this year.

GM’s U.S. market share was roughly flat at 16.9%, compared with 17% a year ago. European market share dipped from 7.2% to 6.1% and worldwide share slipped from 11.1% to 11%.

GM’s shares traded down 2.8% in premarket activity Thursday, at $36.15 in a 52-week range of $28.82 to $38.99. The consensus price target for the shares was around $42.30 before the report.

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