What were GM's Q3 2026 results?

General Motors reported revenue of $50.02 billion versus $48.76 billion estimated (a 2.6% beat), adjusted EPS of $3.70, and net income of $3.33 billion.

Did GM raise guidance?

Yes. GM raised full-year adjusted EPS guidance to $12.75–$13.75, guided adjusted automotive free cash flow above $11.5B, and announced a new buyback authorization reported around $20 billion.

Why did GM stock fall despite the beat-and-raise?

Shares gave back gains after a strong pre-earnings run, with investors questioning margin durability and quality of earnings rather than the headline numbers. The stock fell on the day despite the beat.

Earnings Recap: General Motors (GM) Q3 2026 — Beat-and-Raise Meets Sell-the-News

The Numbers

Metric	Actual	Estimate	Result
Revenue	$50.02B	$48.76B	✅ Beat (+2.6%)
Adjusted EPS	$3.70	—	✅ Beat
Net Income	$3.33B	—	—
Adjusted EBIT	$4.1B	—	—
Adjusted Automotive FCF	$5.9B	—	—

Guidance Update

GM raised full-year 2026 adjusted EPS guidance to $12.75–$13.75 (adjusted EBIT $14.5B–$15.5B), narrowed net income guidance to $8.9B–$9.5B, and guided automotive operating cash flow to $17.3B–$20.3B. The company also announced a fresh buyback authorization reported around $20 billion.

What Happened

✅ Revenue beat estimates by $1.26B (+2.6%) ✅ Raised full-year adjusted EPS, EBIT, and free cash flow guidance ✅ Announced a sizable new share buyback program ⚠️ Shares still sold off on the day, reflecting profit-taking after a strong pre-earnings run and lingering questions about margin quality and sustainability

Market Reaction

GM shares fell sharply intraday despite the beat-and-raise quarter, underscoring that the market is pricing in margin durability questions ahead of raw EPS strength. The move came even as broader Industrials and the Dow (+1.02%) had a strong session.

Bottom Line

GM delivered a textbook beat-and-raise quarter, but the sell-the-news reaction signals investors want proof that margin strength is structural — not just cyclical tailwinds — before re-rating the stock higher.