Summary
of the 7.4 billion dollars with a cash impact, it has paid 4.6 billion, expects to pay another 1 billion next quarter, and the remainder in 2027. The …
General Motors said Tuesday that third-quarter net income more than doubled from a year earlier, as record sales of its full-size pickup trucks and disciplined pricing overcame lower overall vehicle sales and the long tail of its electric-vehicle restructuring.
The Detroit automaker reported net income of 3.34 billion dollars for the quarter ended September 30, up 151 percent from 1.33 billion dollars in the same quarter of 2025. Revenue rose 2.9 percent to 50.02 billion dollars, ahead of the roughly 48.8 billion dollars analysts expected. Adjusted earnings per share were 3.70 dollars, just above the 3.63-dollar consensus, and adjusted operating profit rose 21.6 percent to 4.11 billion dollars, lifting the adjusted margin to 8.2 percent from 6.9 percent.
The results came despite a 5.5 percent drop in unit sales, which the company attributed to discontinued models, a diminished market for electric vehicles, and softer demand for some large SUVs as elevated fuel prices pushed buyers toward smaller vehicles. Sales of compact SUVs such as the Chevrolet Trax and Trailblazer rose. GM said its full-size pickups posted their highest sales ever in the quarter and that fleet sales were the strongest year-to-date since 2019.
Much of the profit jump reflects an easier comparison. The year-earlier quarter was hit by 1.59 billion dollars in charges tied to GM's EV pullback, against 238 million dollars in the latest quarter. GM has booked 11.2 billion dollars of EV-related charges since it began restructuring its electric operations in the second half of 2025; of the 7.4 billion dollars with a cash impact, it has paid 4.6 billion, expects to pay another 1 billion next quarter, and the remainder in 2027.
The company also announced a new 20 billion dollar multiyear share repurchase authorization, having completed the 6 billion dollar buyback launched in January, and declared a quarterly dividend of 0.18 dollars per share payable December 17. In a letter to shareholders, Chief Executive Mary Barra said the buyback "further demonstrates our board's commitment to creating even greater shareholder value."
GM narrowed its full-year outlook, now expecting adjusted operating profit of 14.5 billion to 15.5 billion dollars and adjusted earnings of 12.75 to 13.75 dollars per share, while raising its free cash flow forecast.
Investors focused on the trimmed top end of guidance and on costs: GM shares fell about 6 percent in premarket trading to around 77 dollars, even after the earnings and revenue beats.
Source: Detroit Free Press
