General Motors Company (GM) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $48.0B, up 1.9% year-over-year, with net income attributable to stockholders of $1.3B and EBIT-adjusted of $3.9B, a 29.8% increase year-over-year, driven by strong North American demand and cost discipline, despite higher costs and significant EV-related charges.

• Achieved record U.S. market share in full-size pickups, robust fleet and government sales, and #2 position in U.S. EV sales.

• OnStar digital business saw deferred revenue up nearly 50% year-over-year and record Super Cruise-equipped vehicle sales.

• Continued focus on profitable ICE vehicles, cost control, and strategic EV realignment, with multiple growth engines including software, defense, and insurance.

• Quarterly dividend of $0.18 per share declared, payable September 17, 2026.

Financial highlights

• Q2 2026 revenue: $48.0B, up $900M or 1.9% year-over-year; EBIT-adjusted: $3.9B, up from $3.0B; net income margin: 2.7%, down from 4.0% year-over-year.

• H1 2026 revenue: $92B; EBIT-adjusted: $8.2B; EPS-diluted-adjusted: $7.27, up 35% year-over-year.

• Adjusted automotive free cash flow Q2: $5.0B, up 78% year-over-year.

• Q2 North America EBIT-adjusted: $3.4B, margin 8.6%, up 2.5 points year-over-year.

• GM Financial EBT-adjusted: $605M in Q2, down 14% year-over-year; paid $250M in dividends.

Outlook and guidance

• Raised full-year 2026 guidance: EBIT-adjusted $14.0–$16.0B, EPS-diluted-adjusted $12.00–$14.00, adjusted automotive free cash flow $9.5–$11.5B.

• Net income guidance: $8.4–$9.8B; EPS-diluted: $8.98–$10.98.

• North America EBIT-adjusted margin expected at 8–10%; CapEx plus Battery JV $10.0–$12.0B.

• 2027 results expected to surpass 2026, driven by next-gen trucks, increased SUV supply, and double-digit OnStar digital revenue growth.

• EV losses expected to improve by $1B–$1.5B for the full year; onshoring costs of $1B–$1.5B in 2026.