General Motors (NYSE: GM) Beats Q3 Estimates and Announces $20 Billion Buyback

• General Motors (NYSE: GM) reported third-quarter revenue and adjusted earnings above analysts’ estimates.
• Net income more than doubled, while adjusted EBIT increased 21.6%, supported by a stronger mix of large pickup trucks.
• GM completed its previous $6 billion repurchase program and authorized a new $20 billion multi-year share buyback.

General Motors (NYSE: GM), which owns Chevrolet, GMC, Cadillac and Buick, reported third-quarter results before the market opened on October 20, 2026.

Adjusted earnings were $3.70 per share, compared with analysts’ estimate of $3.63. Revenue reached $50.02 billion, up 2.9% year over year and above market expectations. 

Net income attributable to shareholders rose to $3.34 billion, from $1.33 billion a year earlier. GAAP diluted earnings were $3.73 per share, while adjusted diluted earnings were $3.70 per share. Adjusted EBIT increased 21.6% to $4.11 billion, helped by a greater mix of large pickup trucks and fewer lower-margin electric vehicles. 

For 2026, GM expects net income of $8.9 billion to $9.5 billion, GAAP diluted EPS of $9.72 to $10.72 and adjusted diluted EPS of $12.75 to $13.75. The company also forecasts automotive operating cash flow of $17.3 billion to $20.3 billion and adjusted automotive free cash flow of $11.5 billion to $12.5 billion.

GM completed the $6 billion repurchase program announced in January and approved a new $20 billion multi-year authorization with no expiration date. The board also declared a quarterly dividend of $0.18 per share, payable on December 17 to shareholders of record on December 4. The authorization permits repurchases but does not require GM to spend the entire amount.