GM Narrows 2026 Outlook, Approves $20 Billion Share Buyback
Adjusted EBIT rose 21.6% to $4.1 billion as GM raised free cash flow guidance and completed a $6.0 billion buyback.
- On Tuesday, GM Chair and CEO Mary Barra reported third-quarter revenue of $50.0 billion, surpassing analyst expectations of $48.7 billion, and authorized a new share repurchase program.
- Adjusted earnings before interest and taxes rose 21.6% to $4.1 billion, driven by North America's strong performance where EBIT reached $3.6 billion and margins expanded to 8.7% from 6.2%.
- GM raised its adjusted automotive free cash flow forecast to between $11.5 billion and $12.5 billion, though it expects commodity-related inflation to cost roughly $2 billion from logistics and memory chips.
- Despite strong earnings, GM stock fell about 5% in premarket trading on Tuesday; the board declared a quarterly cash dividend of $0.18 per share, payable December 17.
- Barra narrowed full-year 2026 adjusted EBIT guidance to $14.5 billion to $15.5 billion, stating the company is "performing well" despite inflationary pressures and working to maintain momentum.
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For Michigan Workers, GM’s Strong Quarter Brings Optimism
General Motors reported a sharp increase in third-quarter profits despite lower vehicle sales, as strong demand for its full-size trucks and SUVs continued to generate significant revenue. The results highlight how the automaker's most popular vehicles remain a key part of its business even as it navigates changes in the electric vehicle market. For many Michigan workers, the company's strong performance could provide added confidence about job …
General Motors (NYSE:GM) Board of Directors Authorizes Stock Repurchase Program
General Motors (NYSE:GM - Get Free Report) (TSE:GMM.U) announced that its board has approved a share repurchase program on Tuesday, October 20th, RTT News reports. The company plans to buy back $20.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 27.5% of its stock through open market purchases. Share repurchase programs are often an indication that the company's board of direct…
Washington, Oct 20 (EFE).- The president of the union United Auto Workers (UAW), Shawn Fain, accused General Motors (GM) on Tuesday of putting Wall Street’s interests before those of its workers after the manufacturer announced a buyback program of up to $20 billion. In a statement, Fain [...] The entry Union criticizes GM for the repurchase of shares worth $20 billion was first published in HolaNews.
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GM Stock Drops 5% Despite $4.1 Billion Profit as Surging Costs Threaten 2027 Outlook
General Motors reported stronger third-quarter earnings and announced a $20 billion share repurchase program, but investors sent its stock lower as rising raw material prices, ... The post GM Stock Drops 5% Despite $4.1 Billion Profit as Surging Costs Threaten 2027 Outlook first appeared on [your]NEWS.
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