General Motors 8-K
EarningsGuidanceImpairment / charge
EV strategic realignment costs drive the GAAP-adjusted earnings gap; adjusted profit guidance rises while GAAP profit guidance falls.
Filed 2026-07-21 07:14 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results, revised FY2026 outlook and a quarterly dividend. Revenue rose 1.9% Y/Y, while net income attributable to stockholders fell 31.1%; EBIT-adjusted increased 29.8%, reflecting adjustments that include EV strategic realignment costs. GM raised its FY2026 ranges for EBIT-adjusted, adjusted automotive free cash flow and adjusted EPS, while lowering its net income, automotive operating cash flow and diluted EPS ranges. The board declared a $0.18-per-share cash dividend.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Revenue | $48.0B | $47.1B | 1.9% |
| Operating income | $1.46B | $2.13B | -31.4% |
| Net income attributable to stockholders | $1.31B | $1.90B | -31.1% |
| EBIT-adjusted, non-GAAP | $3.94B | $3.04B | 29.8% |
| Diluted EPS | $1.41 | $1.91 | -26.0% |
| EPS-diluted-adjusted, non-GAAP | $3.57 | $2.53 | 41.3% |
| Automotive operating cash flow | $5.07B | $4.65B | 9.0% |
| Adjusted automotive free cash flow, non-GAAP | $5.03B | $2.83B | 78.0% |
- H1 2026 revenue was $91.7B vs $91.1B (up 0.6%); net income attributable to stockholders was $3.93B vs $4.68B (down 16.0%), and EBIT-adjusted was $8.20B vs $6.53B (up 25.6%). Diluted EPS was $4.25 vs $5.28 (down 19.6%); adjusted EPS was $7.27 vs $5.31 (up 36.9%).
- H1 automotive operating cash flow was $5.60B vs $7.06B (down 20.6%), while adjusted automotive free cash flow was $6.30B vs $3.64B (up 73.2%). EV strategic realignment adjustments were $2.28B in Q2 and $3.36B in H1, a major factor in the difference between GAAP and adjusted results.
- GM repurchased $2.80B of common stock in H1, vs $2.01B a year earlier; weighted-average diluted shares were 918M vs 989M. The $0.18-per-share dividend is payable 9/17/2026 to holders of record at the close of trading on 9/4/2026.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Net income attributable to stockholders, GAAP | FY2026 | $8.4B-$9.8B | $9.9B-$11.4B | Lowered |
| Automotive operating cash flow | FY2026 | $15.4B-$19.4B | $16.8B-$20.8B | Lowered |
| Diluted EPS, GAAP | FY2026 | $8.98-$10.98 | $10.62-$12.62 | Lowered |
| EBIT-adjusted, non-GAAP | FY2026 | $14.0B-$16.0B | $13.5B-$15.5B | Raised |
| Adjusted automotive free cash flow, non-GAAP | FY2026 | $9.5B-$11.5B | $9.0B-$11.0B | Raised |
| EPS-diluted-adjusted, non-GAAP | FY2026 | $12.00-$14.00 | $11.50-$13.50 | Raised |
Expected results exclude the potential impact of future adjustments related to special items.
Investor Takeaways
- FY2026 results will show whether GM delivers within the revised outlook, including the higher adjusted EBIT and free cash flow ranges alongside the lower GAAP net income, automotive operating cash flow and diluted EPS ranges.
- The next declared dividend payment is scheduled for 9/17/2026.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3