General Motors lifts 2026 outlook despite hit from electric retreat
GM said record full-size pickup sales and stronger pricing in North America helped offset $2.3 billion in EV retreat costs.
- On Tuesday, General Motors raised its full-year profit forecast to a range of $14 billion to $16 billion, up $500 million from prior guidance, after reporting solid quarterly results.
- Strong pricing in North America for trucks and SUVs drove the increase, as consumers demonstrated willingness to invest in GM's pricier models despite inflation, boosting average vehicle sales to $52,000 during the quarter.
- Restructuring charges from the company's electric vehicle retreat totaled $2.3 billion this quarter, bringing GM's total EV-related write-downs to $11 billion as it pulls back on its electrification strategy.
- President Donald Trump ordered new 50 percent tariffs on Canadian goods on Monday, with GM projecting a $2.5 billion to $3.5 billion hit to annual earnings from the duties.
- Chief Executive Officer Mary Barra anticipates "better" results in 2027, driven by increased supply of top-selling sport utility vehicles and enhanced pricing power on next-generation truck platforms.
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General Motors Q2 Earnings Call Highlights
General Motors (NYSE:GM) raised its full-year 2026 guidance for the second time this year after reporting higher second-quarter revenue, adjusted earnings and free cash flow, with management citing steady North American demand, disciplined pricing, lower warranty costs and reduced electric vehicle l
General Motors lifts 2026 outlook despite hit from electric retreat
The big US automaker reported $1.3 billion in profits, down 31 percent from the year-ago period. Revenues rose almost two percent to $48 billion. North American auto sales fell during the period, although strong pricing translated into higher profit margins. The company said results in North America -- by far its biggest market -- were boosted by "record" sales of full-sized pickup trucks. Fleet sales were also strong, supported by robust demand…
General Motors beats Wall Street second-quarter expectations as EV retreat narrows losses
The company's revenue in the second quarter was $48.03 billion versus the expected $47.01 billion, and its earnings per share was an adjusted $3.57 versus an expected $3.20.
General Motors' profit fell by 16 percent in the first half of the year, compared to the same period last year. It reached 3.9 billion dollars (about 3.4 billion euros).
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