Q1 26 EPS
$3.70
Q1 26 Revenue
$43.62B
BEAT +0.18%
Est. $43.55B
vs S&P Since Q1 26
-4.1%
TRAILING MARKET
GM -2.8% vs S&P +1.3%
Market Reaction
Did GM Beat Earnings? Q1 2026 Results
General Motors delivered a sharply stronger-than-expected first quarter, with adjusted earnings of $3.70 per share clearing the $2.62 consensus estimate by 41.31%, marking the fourth consecutive quarter the automaker has beaten Wall Street's EPS fore… Read more General Motors delivered a sharply stronger-than-expected first quarter, with adjusted earnings of $3.70 per share clearing the $2.62 consensus estimate by 41.31%, marking the fourth consecutive quarter the automaker has beaten Wall Street's EPS forecast. Revenue came in at $43.62 billion, edging past estimates by 0.18%, though it slipped 0.9% from the year-ago period as North American wholesale volumes declined to 793,000 units from 827,000. The real story was profitability: EBIT-adjusted surged 21.9% to $4.25 billion, with margins expanding 1.8 percentage points to 9.7%, reflecting disciplined cost management and a richer sales mix. A $1.08 billion charge tied to EV capacity realignment weighed on GAAP diluted EPS, which came in at $2.82, widening the gap to the adjusted figure. Looking ahead, GM raised its full-year adjusted EPS guidance to $11.50 to $13.50 and lifted EBIT-adjusted guidance to $13.50 billion to $15.50 billion, aided in part by a favorable $500 million adjustment stemming from a U.S. Supreme Court ruling on tariffs paid under emergency trade authorities.
Key Takeaways
- • GMNA EBIT-adjusted margin expanded 1.3 percentage points to 10.1%
- • EBIT-adjusted increased 21.9% year-over-year to $4.3 billion
- • GMI EBIT-adjusted improved significantly from $30 million to $123 million
- • China equity income rose to $165 million from $45 million
- • Cruise segment loss eliminated (was $273 million loss in prior year)
- • Share count reduction from buybacks (926 million diluted shares vs. 1,002 million)
GM Forward Guidance & Outlook
GM raised its full-year 2026 EBIT-adjusted guidance to $13.5 billion–$15.5 billion (from $13.0 billion–$15.0 billion previously) due to a favorable ~$0.5 billion adjustment from a U.S. Supreme Court decision regarding certain U.S. tariffs paid under the International Emergency Economic Powers Act. Gross tariff costs are now estimated at $2.5 billion–$3.5 billion, down from $3.0 billion–$4.0 billion. Full-year EPS-diluted-adjusted guidance was raised to $11.50–$13.50 (from $11.00–$13.00). Net income attributable to stockholders is expected at $9.9 billion–$11.4 billion (lowered from $10.3 billion–$11.7 billion). Automotive operating cash flow guidance was lowered to $16.8 billion–$20.8 billion (from $19.0 billion–$23.0 billion). Adjusted automotive free cash flow guidance was maintained at $9.0 billion–$11.0 billion.
GM YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
GM Revenue by Segment
With YoY comparisons, source: SEC Filings
GM Earnings Trends
GM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GM EPS Trend
Earnings per share: estimate vs actual
GM Revenue Trend
Quarterly revenue: estimate vs actual
GM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $3.70 | — | $43.62B | +0.18% |
| Q4 25 BEAT FY | $2.24 | $2.51 | +12.05% | $45.29B | — |
| FY Full Year | $10.39 | $10.60 | +2.05% | $185.02B | -0.48% |
| Q3 25 BEAT | $2.32 | $2.80 | +20.54% | $48.59B | +7.20% |
| Q2 25 BEAT | $2.39 | $2.53 | +5.88% | $47.12B | +2.78% |
| Q1 25 BEAT | $2.66 | $2.78 | +4.33% | $44.02B | +1.88% |