$GM · General Motors Co

General Motors reported Q3 2026 results with revenue of $50.0B (+2.9% YoY), net income of $3.3B, EBIT-adjusted of $4.1B (+21.6% YoY), and EPS-diluted-adjusted of $3.70 (+32.2% YoY). The company narrowed full-year 2026 EBIT-adjusted guidance to $14.5B-$15.5B and raised adjusted automotive free cash flow guidance to $11.5B-$12.5B. GM also announced completion of its prior $6B buyback and a new $20B multi-year share repurchase authorization, plus a $0.18 quarterly dividend.

Extended-hours trading shows GM at $76.48, down 7.58% from the $82.75 regular close, despite strong Q3 results and a massive $20B buyback authorization — suggesting the market may be reacting to the narrowed-but-not-raised full-year guidance midpoint or broader macro concerns.

A legacy automaker combining 32% EPS growth, aggressive share count reduction (849M vs 1.2B in 2023), and a fresh $20B buyback is a capital-return story that demands investor attention.

GM's aggressive buyback — reducing shares outstanding from 1.2B (end 2023) to 849M (Q3 2026) — stands out among legacy automakers, with the new $20B authorization signaling continued capital return prioritization over EV investment at all costs.

Guidance does not include potential future adjustments related to special items; China equity income fell 60.3% YoY to $32M; GMI EBIT-adjusted dropped 87.7% to $28M.