General Motors (NYSE:GM) shares declined more than 5% in premarket trading on Tuesday after the US automaker reported third-quarter adjusted earnings and revenue above analyst expectations, while narrowing its full-year financial guidance.
The company reported adjusted earnings of $3.70 per share, slightly exceeding the analyst consensus estimate of $3.69. Quarterly revenue increased 2.9% year over year to $50.0 billion, compared with $48.6 billion in the same period of 2025, and surpassed market expectations of $48.77 billion.
GM revised its full-year 2026 adjusted earnings guidance to a range of $12.75 to $13.75 per share, compared with its previous forecast of $12.00 to $14.00.
The midpoint of the updated range, at $13.25 per share, remained below the analyst consensus estimate of $13.42.
The automaker also narrowed its full-year adjusted earnings before interest and taxes (EBIT) forecast to between $14.5 billion and $15.5 billion, from its previous range of $14.0 billion to $16.0 billion.
Meanwhile, GM increased its adjusted automotive free cash flow guidance to $11.5 billion to $12.5 billion, compared with its earlier projection of $9.5 billion to $11.5 billion.
Within its regional operations, GM North America reported adjusted EBIT of $3.6 billion, up from $2.5 billion in the corresponding quarter last year.
The division’s adjusted EBIT margin increased to 8.7% from 6.2%, representing an improvement of 2.5 percentage points.
International operations reported adjusted EBIT of $28 million, compared with $226 million in the third quarter of 2025.
GM’s equity income from its China operations also declined, reaching $32 million versus $80 million a year earlier.
Separately, General Motors announced the completion of its $6.0 billion share repurchase programme and said its board of directors had authorised a new multi-year buyback programme of up to $20.0 billion.
The company also declared a quarterly dividend of $0.18 per share, payable on 17 December 2026.
GM’s third-quarter results showed higher revenue and adjusted earnings compared with market forecasts, alongside increased profitability in North America and lower contributions from international operations and China.
The updated full-year outlook included a narrower adjusted earnings range and higher automotive free cash flow expectations, although the midpoint of the earnings guidance remained below analyst consensus.
