General Motors reported third-quarter 2026 revenue of $50.0 billion and adjusted earnings of $3.70 per share on Tuesday, while narrowing its full-year profit ranges and authorizing a new $20 billion multi-year share repurchase program, according to its earnings release.
The quarter showed higher reported net income and operating profit than a year earlier. The guidance update was less clear-cut. GM raised the low end and reduced the high end of its adjusted EBIT and EPS ranges, leaving both midpoints unchanged. Its adjusted automotive free cash flow range moved higher.
Revenue and adjusted profit increased
GM reported $3.3 billion of net income attributable to stockholders and $4.1 billion of adjusted earnings before interest and taxes. Revenue was $50.0 billion, compared with $48.6 billion in the third quarter of 2025. Adjusted EPS was $3.70. Yahoo Finance reported that the result exceeded its cited analyst consensus, while Investing.com described it as a narrow beat.
GM North America generated $3.6 billion of adjusted EBIT, up from $2.5 billion a year earlier, with an 8.7% adjusted margin compared with 6.2%. International operations produced $28 million of adjusted EBIT, down from $226 million. China equity income declined to $32 million from $80 million. North America did most of the work.
Guidance ranges narrowed, with cash flow higher
GM now expects 2026 adjusted EBIT of $14.5 billion to $15.5 billion, versus its previous $14.0 billion to $16.0 billion range. Adjusted EPS guidance is $12.75 to $13.75, compared with $12.00 to $14.00 previously. In each case, the midpoint is unchanged. The higher floors narrow the range without raising the profit forecast.
Adjusted automotive free cash flow guidance rose to $11.5 billion to $12.5 billion from $9.5 billion to $11.5 billion. GM also forecast, in its filing with the SEC, net income attributable to stockholders of $8.9 billion to $9.5 billion and diluted EPS of $9.72 to $10.72 under its updated outlook. These figures include year-to-date adjustments, and the company cautioned that future special items could affect results.
A new buyback, with flexibility
The board approved a new $20 billion multi-year authorization after GM completed the $6 billion program announced in January. The authorization has no expiration date, but GM said it may suspend or discontinue the program at its discretion. That leaves GM free to set the pace, and nothing requires it to spend the full $20 billion quickly.
GM had 849 million shares outstanding at September 30, down from 904 million at the end of 2025. The company also declared a quarterly dividend of 18 cents per common share, payable December 17 to shareholders of record on December 4.
What investors should watch
The next quarter should answer whether North American margins can stay near current levels, whether GM delivers the higher cash-flow forecast and how quickly it puts the new buyback to work. Investors comparing the outlook with earlier forecasts should remember that the profit ranges narrowed but did not move up at the midpoint.