GM beats on Q3 results, tightens profit outlook, unveils new $20 billion buyback
Yahoo Finance • • business
Key Points:
- General Motors (GM) reported Q3 revenue of $50 billion and adjusted EPS of $3.70, both surpassing analyst estimates, with adjusted EBIT up nearly 22% to $4.1 billion.
- Despite strong quarterly results, GM narrowed its full-year profit outlook, maintaining midpoints but reducing the range for adjusted EBIT and EPS, while raising its adjusted automotive free cash flow forecast.
- GM announced a new $20 billion multiyear share repurchase program with no expiration and declared a quarterly dividend of $0.18 per share, signaling continued shareholder value focus.
- The company faces rising costs, including $2 billion in commodity inflation and reduced regulatory benefits, partially offset by lower-than-expected tariff costs.
- U.S. vehicle sales fell 5.5% in Q3, driven by a 62% plunge in EV sales, with major EV models like the Chevrolet Equinox EV and GMC Hummer EV experiencing significant declines.
