General Motors reported a 21.6% increase in EBIT-adjusted earnings for the third quarter of 2026, as a shift toward full-size pickups helped North American margins even though U.S. deliveries declined.
The automaker earned $4.106 billion on that measure in the three months ended Sept. 30, compared with $3.376 billion a year earlier. GM’s EBIT-adjusted measure excludes automotive interest income and expense, income taxes and certain items it does not consider part of core operations. Revenue increased 2.9% to $50.015 billion, while net income attributable to stockholders reached $3.335 billion, up from $1.327 billion.
GM North America's adjusted margin climbed by 2.5 percentage points to 8.7%. The region contributed $3.592 billion in EBIT-adjusted earnings, 43.4% more than a year earlier. GM identified a larger share of full-size pickups, fewer electric vehicles and lower warranty costs as benefits. Rising commodity and logistics expenses, along with higher U.S. manufacturing costs, partly offset those gains.
GM delivered 670,974 vehicles in the United States during the quarter, down 6% from a year earlier. It cited a smaller electric-vehicle market and discontinued models.
For 2026, GM set an EBIT-adjusted earnings range of $14.5 billion to $15.5 billion, replacing its previous $14 billion to $16 billion forecast. It also raised its adjusted automotive free cash flow outlook to $11.5 billion to $12.5 billion from $9.5 billion to $11.5 billion.
GM's board authorized $20 billion in share repurchases over multiple years after the company completed a $6 billion program announced in January. The new authorization has no expiration date, and GM may suspend or discontinue purchases. The board also declared a quarterly dividend of $0.18 per share, payable Dec. 17 to shareholders of record at the close of trading Dec. 4.
The stronger results did not prevent a decline in GM shares. The stock was at $77.82, down 5.92%, at 10:12 a.m. ET on Oct. 20, RTTNews reported.
GM expects its next-generation 2027 Chevrolet Silverado and GMC Sierra pickups to begin reaching dealerships in the fourth quarter. Its fourth-quarter earnings announcement is scheduled for Jan. 27, 2027.
