GM Reports Strong Q3 2026 Results, Raises Guidance & Authorizes $20B Buyback

Executive Summary

On October 20, 2026, General Motors Company filed a Form 8-K reporting its third-quarter 2026 financial results, updating full-year 2026 financial guidance, and announcing significant capital return actions headlined by a new $20 billion share repurchase authorization.

Q3 2026 Financial Highlights

• Revenue: $50.02 billion, up 2.9% year-over-year from $48.59 billion in Q3 2025.
• Net Income Attributable to Stockholders: $3.34 billion, compared to $1.33 billion in Q3 2025.
• EBIT-Adjusted: $4.11 billion, an increase of 21.6% YoY from $3.38 billion, with adjusted margins expanding 130 bps to 8.2%.
• Diluted EPS: $3.73, up from $1.35 in the prior-year period.
• EPS-Diluted-Adjusted: $3.70, up 32.2% YoY from $2.80 in Q3 2025.
• Automotive Operating Cash Flow: $8.05 billion, up 32.6% YoY.
• Adjusted Automotive Free Cash Flow: $5.88 billion, up 40.0% YoY.

Segment Performance

• GM North America (GMNA): EBIT-adjusted rose 43.4% YoY to $3.59 billion, expanding EBIT margin to 8.7% (up 250 bps).
• GM International (GMI): EBIT-adjusted decreased to $28 million from $226 million YoY; China equity income contributed $32 million versus $80 million in Q3 2025.
• GM Financial: EBT-adjusted reached $668 million, compared to $804 million in Q3 2025.

Upward Revision to FY 2026 Guidance

GM raised the midpoint and narrowed ranges for its full-year 2026 outlook:

• EBIT-Adjusted: $14.5 billion to $15.5 billion (raised from prior $14.0B–$16.0B; midpoint raised from $15.0B to $15.0B with downside narrowed).
• EPS-Diluted-Adjusted: $12.75 to $13.75 (up from prior $12.00–$14.00; midpoint up $0.25 to $13.25).
• Adjusted Automotive Free Cash Flow: $11.5 billion to $12.5 billion (raised substantially from prior $9.5B–$11.5B; midpoint up $1.5B to $12.0B).
• Automotive Operating Cash Flow: $17.3 billion to $20.3 billion (raised from $15.4B–$19.4B).
• Net Income Attributable to Stockholders: $8.9 billion to $9.5 billion (narrowed from $8.4B–$9.8B).

Capital Allocation & Shareholder Returns

• New $20 Billion Share Buyback: Having completed its prior $6.0 billion repurchase program launched in January 2026, the Board authorized a new multi-year $20.0 billion share repurchase program with no expiration date.
• Share Count Reduction: Dilution reduction continues aggressively; common shares outstanding stood at 849 million as of September 30, 2026, down from 904 million at year-end 2025, 995 million at year-end 2024, and 1.20 billion at year-end 2023.
• Quarterly Cash Dividend: Declared a regular dividend of $0.18 per share, payable December 17, 2026, to shareholders of record as of December 4, 2026.