Companies /Consumer Cyclical

General Motors Company

NYSE: GM Auto Manufacturers
$84.87
▼ $0.76 (−0.89%) today
Markets closed · 6:37am ET

Q1 2026 Earnings

Reported Apr 28, 2026, 7:25am ET · SEC source
$3.70
Beat +40.19%
EPS · est. $2.64
$43.6B
Beat +0.18%
Revenue · est. $43.5B
−0.9%
Trailing market
GM vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0Apr 28Apr 29report 7:25am ETearnings−0.3%−6.5%
−6%−3%0Apr 28Apr 29earnings−0.3%−6.5%
GM −6.5%S&P 500 −0.3%
−6%−3%0Apr 28Apr 29report 7:25am ETearnings+0.2%−6.5%
−6%−3%0Apr 28Apr 29earnings+0.2%−6.5%
GM −6.5%NASDAQ +0.2%
−3%0+3%Apr 27May 6report 7:25am ETearnings+2.6%−2.6%
−3%0+3%Apr 27May 6earnings+2.6%−2.6%
GM −2.6%S&P 500 +2.6%
−4%0+4%Apr 27May 6report 7:25am ETearnings+5.1%−2.6%
−4%0+4%Apr 27May 6earnings+5.1%−2.6%
GM −2.6%NASDAQ +5.1%
+1.27%
Day of report
−2.95%
Next session
−3.55%
One week
+5.43%
30 days

S&P 500 over the same 30 days: +6.29%.

Did GM Beat Earnings? Q1 2026 Results

General Motors delivered a sharply stronger-than-expected first quarter, with adjusted earnings of $3.70 per share clearing the $2.62 consensus estimate by 41.31%, marking the fourth consecutive quarter the automaker has beaten Wall Street's EPS forecast. Revenue came in at $43.62 billion, edging past estimates by 0.18%, though it slipped 0.9% from the year-ago period as North American wholesale volumes declined to 793,000 units from 827,000. The real story was profitability: EBIT-adjusted surged 21.9% to $4.25 billion, with margins expanding 1.8 percentage points to 9.7%, reflecting disciplined cost management and a richer sales mix. A $1.08 billion charge tied to EV capacity realignment weighed on GAAP diluted EPS, which came in at $2.82, widening the gap to the adjusted figure. Looking ahead, GM raised its full-year adjusted EPS guidance to $11.50 to $13.50 and lifted EBIT-adjusted guidance to $13.50 billion to $15.50 billion, aided in part by a favorable $500 million adjustment stemming from a U.S. Supreme Court ruling on tariffs paid under emergency trade authorities.

Key Takeaways
  • GMNA EBIT-adjusted margin expanded 1.3 percentage points to 10.1%
  • EBIT-adjusted increased 21.9% year-over-year to $4.3 billion
  • GMI EBIT-adjusted improved significantly from $30 million to $123 million
  • China equity income rose to $165 million from $45 million
  • Cruise segment loss eliminated (was $273 million loss in prior year)
  • Share count reduction from buybacks (926 million diluted shares vs. 1,002 million)

Forward Guidance & Outlook

GM raised its full-year 2026 EBIT-adjusted guidance to $13.5 billion–$15.5 billion (from $13.0 billion–$15.0 billion previously) due to a favorable ~$0.5 billion adjustment from a U.S. Supreme Court decision regarding certain U.S. tariffs paid under the International Emergency Economic Powers Act. Gross tariff costs are now estimated at $2.5 billion–$3.5 billion, down from $3.0 billion–$4.0 billion. Full-year EPS-diluted-adjusted guidance was raised to $11.50–$13.50 (from $11.00–$13.00). Net income attributable to stockholders is expected at $9.9 billion–$11.4 billion (lowered from $10.3 billion–$11.7 billion). Automotive operating cash flow guidance was lowered to $16.8 billion–$20.8 billion (from $19.0 billion–$23.0 billion). Adjusted automotive free cash flow guidance was maintained at $9.0 billion–$11.0 billion.

GM YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$20.0B$40.0B$44.0B$43.6BRevenue$2.8B$2.6BNet Income$3.4B$2.9BOperating Income
$0$20.0B$40.0BRevenueNet IncomeOperating Income

GM Revenue by Segment

GM North America$36.4B−2.6%
GM Financial$4.3B+2.7%
GM International$2.9B+17.8%

Figures from SEC filings and company reports. Not investment advice.