Why it matters
- General Motors said Tuesday, Oct. 20, that third-quarter net income attributable to stockholders rose to $3.3 billion from $1.3 billion a year earlier, on revenue of $50.0 billion, up 2.9%. EBIT-adjusted rose 21.6% to $4.1 billion.
- GM narrowed its 2026 EBIT-adjusted guidance to $14.5 billion to $15.5 billion, from $14.0 billion to $16.0 billion, raised its adjusted automotive free cash flow outlook to $11.5 billion to $12.5 billion and approved a new $20 billion share buyback.
- GM shares traded at about $77.34 at 8:54 a.m. ET, down about 6.5% from Monday's close of $82.75, according to Yahoo Finance data. The stock fell after the 6:30 a.m. ET release.
General Motors shares fell about 6.5% in premarket trading Tuesday, Oct. 20, after the automaker reported third-quarter net income of $3.3 billion, up from $1.3 billion a year earlier, and narrowed its full-year profit outlook. GM traded at about $77.34 at 8:54 a.m. ET, down from Monday's close of $82.75, according to Yahoo Finance data.
Revenue rose 2.9% to $50.0 billion, and EBIT-adjusted, the company's main profit measure, rose 21.6% to $4.1 billion, GM said in its earnings release, issued at 6:30 a.m. ET. Adjusted earnings per share were $3.70, up 32.2% from $2.80.
How did GM's shares react to earnings?
They fell sharply as soon as the results came out. GM traded at about $82.55 at 6:20 a.m. ET, before the release, and at about $77.45 by 6:40 a.m., Yahoo Finance data show. The stock touched about $76.00 at around 8:05 a.m. ET. GM did not comment on the share move, and premarket prices can change before the 9:30 a.m. ET open.
GM third-quarter 2026 results at a glance
| Measure | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Revenue | $50.02 billion | $48.59 billion | +2.9% |
| Net income attributable to stockholders | $3.34 billion | $1.33 billion | n.m. |
| EBIT-adjusted | $4.11 billion | $3.38 billion | +21.6% |
| EBIT-adjusted margin | 8.2% | 6.9% | +1.3 pts |
| EPS, diluted | $3.73 | $1.35 | n.m. |
| EPS, diluted, adjusted | $3.70 | $2.80 | +32.2% |
| Adjusted automotive free cash flow | $5.88 billion | $4.20 billion | +40.0% |
| GM North America EBIT-adjusted | $3.59 billion | $2.51 billion | +43.4% |
| GM International EBIT-adjusted | $28 million | $226 million | -87.7% |
| GM Financial EBT-adjusted | $668 million | $804 million | -16.9% |
Source: General Motors third-quarter 2026 earnings release (Exhibit 99.1 to Form 8-K). n.m. = not meaningful, as labeled by GM.
North America drove the gain. The region's EBIT-adjusted margin rose to 8.7% from 6.2%, GM said. Equity income from China fell to $32 million from $80 million.
What is GM's 2026 guidance now?
GM narrowed its range rather than raising it. The company now expects 2026 EBIT-adjusted of $14.5 billion to $15.5 billion, versus $14.0 billion to $16.0 billion before, which leaves the midpoint at $15.0 billion. It expects adjusted earnings per share of $12.75 to $13.75, versus $12.00 to $14.00.
It raised its adjusted automotive free cash flow forecast to $11.5 billion to $12.5 billion, from $9.5 billion to $11.5 billion. GM now expects net income attributable to stockholders of $8.9 billion to $9.5 billion, compared with $8.4 billion to $9.8 billion previously.
| 2026 guidance | Updated | Previous |
|---|---|---|
| EBIT-adjusted | $14.5 billion to $15.5 billion | $14.0 billion to $16.0 billion |
| Adjusted automotive free cash flow | $11.5 billion to $12.5 billion | $9.5 billion to $11.5 billion |
| EPS, diluted, adjusted | $12.75 to $13.75 | $12.00 to $14.00 |
How big is GM's new share buyback?
GM's board approved a new $20 billion multi-year share repurchase authorization with no expiration date, after the company completed the $6 billion program it announced in January. GM had 849 million shares outstanding on Sept. 30, down from 904 million at the end of 2025. The board also declared a quarterly dividend of 18 cents a share, payable Dec. 17 to holders of record on Dec. 4.
How did GM's U.S. sales do?
GM sold 671,000 vehicles in the United States in the third quarter, down from 710,000 a year earlier, and its U.S. market share slipped to 16.1% from 16.8%, according to the release. Wholesale shipments in North America rose to 870,000 from 840,000.
For another look at automakers this quarter, see Tesla's third-quarter deliveries. For the economic backdrop, see China's third-quarter GDP report. Follow more earnings coverage in our companies section.
Sources
- General Motors, GM releases 2026 third-quarter results and updates full-year 2026 guidance (Exhibit 99.1 to Form 8-K, Oct. 20, 2026)
- SEC EDGAR, General Motors Form 8-K filing index, Oct. 20, 2026
- Yahoo Finance, chart data for General Motors (GM), premarket and daily closes
