General Motors Company
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −1.37%.
Did GM Beat Earnings? Q4 2025 Results
General Motors delivered a mixed but fundamentally resilient Q4 2025, posting adjusted EPS of $2.51 against a Wall Street consensus of $2.24 — a 12.05% beat — even as revenue of $45.29 billion fell short of the $46.17 billion estimate and slipped 5.1% year-over-year. The headline narrative was shaped by more than $7.20 billion in special charges tied to a sweeping strategic realignment of GM's electric vehicle capacity, triggered by softening consumer EV demand and a shifting U.S. policy environment that eliminated key consumer incentives. Strip those charges away, and the underlying business showed genuine momentum: Q4 EBIT-adjusted climbed 13.3% year-over-year to $2.84 billion, while China equity losses narrowed dramatically to $513 million from $4.06 billion a year earlier. GM also rewarded shareholders with a 20% dividend increase and a new $6.00 billion buyback authorization. Looking ahead, management projects 2026 EPS-diluted-adjusted of $11.00–$13.00, a range that will be closely watched by anyone tracking <a href="https://247wallst.com/forecasts/2026/01/30/general-motors-gm-price-prediction-and-forecast-2025-2030/">GM's long-term valuation trajectory</a> as the broader auto industry navigates its own EV reckoning.
- Q4 EBIT-adjusted up 13.3% YoY to $2,843 million driven by improved EBIT-adjusted margin of 6.3% vs 5.3%
- GMNA EBIT-adjusted margin improved 0.3 percentage points to 6.1% in Q4
- GMI EBIT-adjusted up 25.4% YoY in Q4 to $278 million
- China equity losses narrowed significantly from $(4,060) million to $(513) million in Q4
- Adjusted automotive free cash flow up 51.2% YoY in Q4 to $2,755 million
- North America capacity two-shift utilization at 104.7% in Q4
- U.S. market share held at 17.2% in Q4 2025
“For several years now, GM's strong brands and winning vehicles, as well as our technology-driven services and operating discipline, have delivered consistently strong cash generation. This has allowed us to execute all phases of our capital allocation strategy, from investing in the business and our people, to maintaining a strong balance sheet and returning capital to shareholders.”
General Motors CEO, on the earnings call
Forward Guidance & Outlook
GM issued 2026 guidance projecting EBIT-adjusted of $13.0–$15.0 billion, net income attributable to stockholders of $10.3–$11.7 billion, EPS-diluted of $11.00–$13.00, EPS-diluted-adjusted of $11.00–$13.00, automotive operating cash flow of $19.0–$23.0 billion, adjusted automotive free cash flow of $9.0–$11.0 billion, and capital spending of $10.0–$12.0 billion inclusive of battery cell manufacturing joint ventures. Management characterized 2026 as a year of strong financial performance.
GM YoY Financials
GM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.