Q2 26 EPS
$3.57
BEAT +12.11%
Est. $3.18
Q2 26 Revenue
$48.03B
BEAT +2.00%
Est. $47.09B
vs S&P Since Q2 26
+10.9%
BEATING MARKET
GM +14.1% vs S&P +3.2%
Market Reaction
Did GM Beat Earnings? Q2 2026 Results
General Motors delivered a strong second-quarter 2026 performance, with adjusted earnings per share of $3.57 beating the $3.18 consensus estimate by 12.11%, marking the fifth consecutive quarter the automaker has topped Wall Street's EPS expectations… Read more General Motors delivered a strong second-quarter 2026 performance, with adjusted earnings per share of $3.57 beating the $3.18 consensus estimate by 12.11%, marking the fifth consecutive quarter the automaker has topped Wall Street's EPS expectations. Revenue climbed 1.9% year over year to $48.03 billion, edging past the $47.09 billion consensus by 2.00%, fueled by robust truck and SUV demand in North America, where the GM North America segment generated $3.45 billion in adjusted EBIT at an 8.6% margin, up 2.5 percentage points from a year ago. GAAP net income fell 31.1% to $1.30 billion, weighed down by $2.28 billion in EV strategic realignment charges, though adjusted EBIT surged 29.8% to $3.94 billion. Encouraged by spending discipline and strong pricing power, GM raised its full-year adjusted EBIT guidance to $14.00 billion to $16.00 billion and lifted its adjusted EPS outlook to $12.00 to $14.00, the second guidance increase of the year, signaling management's confidence in sustained momentum through the remainder of 2026.
Key Takeaways
- • GMNA EBIT-adjusted increased 42.7% YoY to $3,446 million with margin expanding 2.5 percentage points to 8.6%
- • Total wholesale vehicle sales rose to 990,000 units from 974,000 units
- • Adjusted automotive free cash flow increased 78.0% YoY to $5,033 million
- • EBIT-adjusted increased 29.8% to $3,943 million
- • China equity income improved to $83 million from $71 million
GM Forward Guidance & Outlook
GM raised its full-year 2026 guidance for the second time this year. Updated EBIT-adjusted guidance is $14.0 billion to $16.0 billion (from prior $13.5 billion to $15.5 billion). EPS-diluted-adjusted guidance is $12.00 to $14.00 (from $11.50 to $13.50). Net income attributable to stockholders is expected to be $8.4 billion to $9.8 billion. Automotive operating cash flow is expected to be $15.4 billion to $19.4 billion. Adjusted automotive free cash flow guidance is $9.5 billion to $11.5 billion (from $9.0 billion to $11.0 billion). Capital expenditures are expected to be $10.0 billion to $12.0 billion. These expected financial results do not include the potential impact of future adjustments related to special items.
GM YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
GM Revenue by Segment
With YoY comparisons, source: SEC Filings
GM Earnings Trends
GM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GM EPS Trend
Earnings per share: estimate vs actual
GM Revenue Trend
Quarterly revenue: estimate vs actual
GM Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $3.18 | $3.57 | +12.11% | $48.03B | +2.00% |
| Q1 26 BEAT | $2.64 | $3.70 | +40.19% | $43.62B | +0.18% |
| Q4 25 BEAT FY | $2.26 | $2.51 | +11.11% | $45.29B | -1.63% |
| FY Full Year | $10.39 | $10.60 | +2.05% | $185.02B | -0.48% |
| Q3 25 BEAT | $2.32 | $2.80 | +20.54% | $48.59B | +7.20% |
| Q2 25 BEAT | $2.39 | $2.53 | +5.88% | $47.12B | +2.78% |
| Q1 25 BEAT | $2.66 | $2.78 | +4.33% | $44.02B | +1.88% |