GM beats on earnings, raises guidance amid resilient vehicle pricing

DETROIT — General Motors raised several key 2026 earnings forecasts Tuesday after beating Wall Street's second-quarter expectations as the automaker's North American operations continue to drive its results.

Here's how the company performed in the first quarter, compared with average estimates compiled by LSEG:

• Earnings per share: $3.57 adjusted vs. $3.20 expected
• Revenue: $48.03 billion vs. $47.01 billion expected

The raised guidance includes full-year adjusted earnings before interest and taxes of between $14 billion and $16 billion, or $12 and $14 adjusted EPS, up from previous guidance of $13.5 billion to $15.5 billion, or $11.50 and $13.50 adjusted EPS, previously. It also raised its expectations for adjusted automotive free cash flow to $9.5 billion to $11.5 billion, up from $9 billion to $11 billion.

The Detroit automaker however lowered its expectations for net income attributable to stockholders to be between $8.4 billion and $9.8 billion, down from a previously lowered guidance of between $9.9 billion and $11.4 billion.

This is the second consecutive quarter GM has lowered its net income attributable to stockholders guidance while raising other forecasts. In April, GM altered its guidance to reflect a $500 million tariff rebate.

The company's North American operations led GM's results, which also include expanding its digital services and lowering its all-electric vehicle losses.

"Our 8.6% EBIT-adjusted margin in North America was up 2.5 points from a year ago, and we continue to lower our warranty costs, reduce EV losses, and increase operating efficiency. In addition, GM International, inclusive of our China joint ventures, was profitable," GM CEO and Chair Mary Barra said in a letter to shareholders.

Barra also noted consistent vehicle pricing and a "very attractive lineup" of pickup trucks and SUVs contributing to its results.

The company's second quarter results included net income attributable to stockholders of $1.3 billion, down 31.1% compared to a year earlier, while adjusted earnings increased about 30% to more than $3.9 billion, or an 8.2% adjusted profit margin. Its revenue was up 1.9% from a year earlier.

GM's 2025 second-quarter results included $47.12 billion in revenue, net income attributable to stockholders of $1.9 billion, and adjusted earnings before interest and taxes of $3.04 billion.