General Motors Company Earnings Recaps
Q2 2026
Jul 23, 2026
The market reacted positively with an 8.4% gain, reflecting investor approval of GM’s raised guidance, improving margins, and continued growth across core vehicles and new business lines.
Key takeaways
- GM raised its full-year 2026 guidance for the second time, signaling confidence in sustained demand and execution.
- North America EBIT adjusted margin expanded to 8.6%, up 250 basis points year-over-year, demonstrating ongoing margin improvement despite tariff impacts.
- Full-size pickup market share in the U.S. exceeded 42% through H1, growing year-over-year, supported by record fleet deliveries and low incentive spending.
- Software and services revenue is growing rapidly, with over $3 billion recognized and 1 million new Super Cruise subscriptions expected this year, poised for acceleration with expanded availability.
- New business segments like GM Insurance and GM Defense show strong momentum, with GM Defense targeting nearly $700 million in 2026 revenue and positive EBIT results on the horizon.
Q1 2026
Apr 29, 2026
Shares of GM closed down 1.7% following Q1 2026 results, with the market reacting neutrally as the company raised EBIT-adjusted guidance on the back of an accounting benefit but reported lower revenue year-over-year amid ongoing cost pressures and lean inventory.
Key takeaways
- Q1 EBIT-adjusted margin was 10.1%, including a 1.5-point boost from a Supreme Court tariff adjustment; underlying margin netted to 8.6%.
- Revenue declined by approximately $400 million year-over-year, driven by lower EV wholesale volumes; ICE wholesales were flat overall.
- GM raised full-year EBIT-adjusted guidance by $500 million to a range of $13.5–15.5 billion, attributable to the one-time tariff benefit.
- Inventory in the U.S. ended the quarter at 516,000 units (down 6% y/y); lean supplies constrained retail sales, especially for full-size pickups (down 9% y/y).
- Management cited elevated costs linked to geopolitical events (war in Iran) and flagged ongoing caution on guidance changes until more clarity emerges.