The automaker increased sales of pricey pickups by 20% and cut $400 million in costs in Q1, boosting profit despite a 3.4% revenue drop.
Large companies saw three quarters of strong gains for their chronically underfunded plans almost wiped out by the late-year stock market nosedive.
Strong sales of high-margin pickups and small SUVs fueled an earnings beat for GM despite weak demand in China.
The company expects to surpass its 2018 earnings projection and promises higher 2019 earnings.
The moves are part of GM's effort to position itself for a future of electric and autonomous vehicles.
The automaker raised vehicle prices in the U.S. to a record average of more than $36,000, offsetting declining sales volumes across every brand.
A new crop of CFOs has risen to prominence. Do they have the finance acumen and strategic savvy to tackle the obstacles ahead of them?
Suryadevara's appointment to replace Chuck Stevens puts GM in an elite group of companies that have a woman in both the CEO and CFO roles.
The $6 billion deal could be a harbinger of more such asset de-risking moves by other defined-benefit plan sponsors.
The automaker has been retooling factories to prepare for the launch of new full-size pickups.
The automaker would convert around $2.2 billion of GM Korea's debt into equity in exchange for financial support and tax benefits from Seoul.
The automaker's operating results were "very strong, and actually great" in the quarter and for the full year, CFO Chuck Stevens says.
