GM Q3 Profit Surges, Revises FY26 Earnings View, Plans $20 Bln Buyback; Stock Drops

(RTTNews) - Shares of General Motors Co. were losing around 6 percent in the pre-market activity on the NYSE after the automajor revised its fiscal 2026 earnings view, raising the lower end of range, but trimming the higher end. This was despite reporting strong growth in third-quarter earnings.

The firm also announced a new $20 billion multi-year share repurchase program and declared quarterly dividend.

In pre-market activity on the NYSE, the shares were trading 5.72 percent lower at $77.99.

For fiscal 2026, the company now expects net income attributable to stockholders to be $8.9 billion to $9.5 billion or $9.72 to $10.72 per share. The previous estimate was $8.4 billion to $9.8 billion or $8.98 to $10.98 per share.

The firm now projects adjusted earnings of $12.75 to $13.75 per share, compared to previous estimate of $12.00 to $14.00 per share.

Adjusted EBIT is now estimated at $14.50 billion to $15.50 billion, compared to previous view of $14.00 billion to $16.00 billion.

Further, the firm said its Board of Directors has approved a new $20 billion multi-year share repurchase authorization after completing the $6.0 billion program announced in January 2026.

The new share repurchase program has no expiration date. As of September 30, the company had 849 million shares outstanding, down from 904 million at the end of 2025.

In addition, GM said its Board has declared a quarterly cash dividend of $0.18 per share, payable December 17, to holders of the company's common stock at the close of trading on December 4.

In the third quarter, net income attributable to stockholders surged to $3.34 billion from $1.33 billion last year. Earnings per share were $3.73, up from $1.35 a year ago.

Adjusted earnings were $3.28 billion or $3.70 per share, compared to $2.69 billion or $2.80 per share in the prior year.

Adjusted EBIT climbed 21.6 percent to $4.11 billion from prior year's $3.38 billion.

Revenue for the quarter grew 2.9 percent to $50.015 billion from last year's $48.591 billion.

Automotive net sales and revenue grew to $45.706 billion from $44.256 billion a year ago.

Total vehicle sales were 1.028 million in the quarter, higher than 977 thousand last year, with growth in both GM North America and GM International.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.