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GM quarterly core profit rises 30% on truck, SUV strength
The automaker beat analysts’ estimates as North American SUV and truck sales lifted profit, while tariffs and restructuring costs remained a drag.
- General Motors lifted its 2026 profit outlook by $500m today after posting a 30% increase in second-quarter core profit, driven by strong SUV and truck sales. Revenue of $48 billion was up 2% year-over-year.
- In North America, profit margins improved to 8.6% from 6.1% a year earlier, despite a 4% decline in quarterly sales. Strong pricing in the automaker's largest market drove this performance.
- Quarterly net income dropped 31% to $1.3 billion, primarily due to about $2.3 billion in costs related to restructuring its electric-vehicle factory footprint. This masks underlying operational strength.
- On an adjusted basis, General Motors earned $3.57 per share, topping the $3.20 estimate per LSEG data. Equity income in China rose to $83m from $71m a year ago.
- Results face a $2.5 billion to $3.5 billion tariff hit, while inflation in materials and logistics should cut earnings by $1.5 billion to $2 billion this year. The company expects $500m in refunds tied to a Supreme Court ruling on Trump administration tariffs.
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avisendanmark.dk
avisendanmark.dkThe American car group GM is upgrading its expectations for operating profit after the second quarter.
·Borås, Sweden
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Total News Sources17
Leaning Left1Leaning Right3Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 25%
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