Earnings summaries and quarterly performance for General Motors.
Executive leadership at General Motors.
Mary Barra
Detailed
Chief Executive Officer
CEO
Grant Dixton
Detailed
Executive Vice President, Chief Legal, Public Policy Officer and Corporate Secretary
Mark Reuss
Detailed
President
Paul Jacobson
Detailed
Executive Vice President and Chief Financial Officer
Rory Harvey
Detailed
Executive Vice President and President, Global Markets
Board of directors at General Motors.
Research analysts who have asked questions during General Motors earnings calls.
Adam Jonas
Morgan Stanley
6 questions for GM
Also covers: APTV, CAR, CVNA +7 more
Dan Levy
Barclays PLC
6 questions for GM
Also covers: ADNT, ALV, APTV +14 more
Emmanuel Rosner
Wolfe Research
6 questions for GM
Also covers: ADNT, ALV, APTV +10 more
Joseph Spak
UBS Group AG
6 questions for GM
Also covers: ADNT, APH, APTV +16 more
Ryan Brinkman
JPMorgan Chase & Co.
5 questions for GM
Also covers: AXL, BWA, CAR +7 more
Chris McNally
Evercore ISI
4 questions for GM
Also covers: ALV, APTV, AUR +4 more
Itay Michaeli
TD Cowen
4 questions for GM
Also covers: APTV, ASPN, AUR +11 more
Mark Delaney
The Goldman Sachs Group, Inc.
4 questions for GM
Also covers: APH, APTV, AUR +22 more
John Murphy
Bank of America
3 questions for GM
Also covers: ABG, ADNT, AN +16 more
Daniel Roeska
Bernstein Research
2 questions for GM
Also covers: F, PSNY, TSLA
Federico Merendi
Bank of America
2 questions for GM
Also covers: ABG, AXL, F +6 more
Michael Ward
Citi Research
2 questions for GM
Also covers: AFL, AN, CPS +13 more
Mike Ward
UBS
2 questions for GM
Also covers: PAG, PRU, RGA +1 more
Tom Narayan
RBC Capital Markets
2 questions for GM
Also covers: ALV, APTV, AXL +6 more
Edison Yu
Deutsche Bank
1 question for GM
Also covers: ACHR, ADNT, ALV +19 more
Gautam Narayan
RBC Capital Markets
1 question for GM
Also covers: APTV, AXL, CPTN +5 more
James Picariello
BNP Paribas
1 question for GM
Also covers: ADNT, APTV, AXL +11 more
Recent press releases and 8-K filings for GM.
GM expects 2026 to outperform 2025 on tariff relief and cost initiatives
GM
Guidance Update
Share Buyback
- GM expects 2026 to surpass 2025 results, driven by Korea tariff relief retroactive to November 1, 2025, combined with self-help cost controls in warranty and EV segments.
- Warranty claims are projected to yield a ~$1 billion year-over-year improvement in 2026 as incident rates stabilize and high-cost repairs normalize.
- EV business is being restructured to right-size production capacity, enhance plant flexibility, and reduce unit costs ahead of scaling volumes for profitability, with further details expected in Q4.
- Regulatory compliance costs (~$1 billion in 2024 from CAFE and GHG credits) are set to largely wind down by 2026, providing an additional earnings tailwind.
- Capital allocation maintains $10–12 billion annual capex and $18–20 billion cash plus a $16 billion revolver, with priority on share buybacks amid undervaluation and ongoing dividend growth.
2 days ago
GM provides 2026 outlook and cost measures at UBS Global Industrials and Transportation Conference
GM
Guidance Update
Share Buyback
New Projects/Investments
- GM CFO Paul Jacobson expects a ~$1 billion benefit in 2026 from Korea tariff reductions retroactive to Nov 1, with no additional upside beyond guidance ( ).
- Warranty improvements, driven by lower incidents and stabilizing supplier issues, are projected to yield a $1 billion+ tailwind in 2026 ( ).
- EV business restructuring focuses on right-sizing production capacity—centered on Factory Zero—and reducing unit costs to achieve variable profitability before scaling volume ( ).
- Regulatory compliance costs for CAFE and GHG credits will be fully realized by 2026, creating an additional earnings tailwind from zeroed penalty expenses ( ).
- Capital allocation remains balanced with $10–12 billion annual capex, debt maturities under control, and continued share buybacks, maintaining an $18–20 billion cash buffer ( ).
2 days ago
GM outlines 2026 outlook and self-help initiatives at UBS conference
GM
Guidance Update
New Projects/Investments
Share Buyback
- GM anticipates 2026 performance to exceed 2025, supported by the Korea tariff rollback retroactive to November 1, already built into Q4 guidance.
- GM targets a $1 billion+ warranty benefit in 2026 through incidence reduction and cost control, aiming to bend down cash outflows.
- GM is restructuring and right-sizing its EV capacity to align production with demand, improving EV profitability and lowering break-even volumes.
- Regulatory relief on CAFE credits and expected GHG credit removal will deliver tailwinds in 2026 by eliminating approximately $1 billion of compliance expense.
- GM plans to sustain $10–12 billion annual capex, maintain an $18–20 billion cash buffer, and prioritize share buybacks alongside dividend growth.
2 days ago
GM outlines 4Q performance and 2026 outlook at Barclays Global Autos Conference
GM
Guidance Update
Share Buyback
New Projects/Investments
- Q4 trends in line with guidance, with broad demand holding up despite sunsetting of the $7,500 EV tax credit in October.
- 2026 seen stronger than 2025, driven by reduced EV losses, improved warranty performance, stable tariffs and regulatory tailwinds, assuming industry sales around 16 million units.
- EV profitability to improve through right-sizing manufacturing footprint, adopting prismatic cells and LMR technology, and eliminating overcapacity charges.
- Capital allocation remains disciplined, with ~$3.5 billion returned to shareholders year-to-date and ~$5 billion expected for FY, alongside $10–12 billion CapEx and ongoing debt reduction above the $20 billion cash target.
Nov 19, 2025, 1:40 PM
GM provides 4Q 2025 update and 2026 outlook
GM
Guidance Update
- GM expects 4Q 2025 results to be in line with guidance, noting stable consumer demand despite the end of the $7,500 EV tax credit, share gains in full-size pickups, and disciplined inventory/incentive management.
- Management sees 2026 performance exceeding 2025 driven by reduced EV losses, lower warranty costs, tariff relief, regulatory tailwinds, and fixed-cost leverage in a market around 16 million units.
- Warranty expense of approximately $1.5 billion in 2025—primarily from supplier quality issues (notably L87 engines)—is stabilizing, with monthly cash outlays flattening and accruals expected to decline in 2026.
- Tariffs are running $3.5–$4.5 billion gross in 2025 with ~35% mitigation; further relief from Korea, Mexico/Canada agreements and expanded MSRP offsets should boost 2026 results.
- Capital allocation plans include $10–$12 billion of CapEx, continued debt paydown, and roughly $5 billion returned to shareholders YTD via buybacks and dividends, supported by strong free cash flow conversion.
Nov 19, 2025, 1:40 PM
GM details 4Q trends and 2026 outlook at Barclays Autos Conference
GM
Guidance Update
- GM expects 4Q performance in line with expectations, with stable broad demand and a slight market-share gain in full-size pickups, underpinned by disciplined inventory and incentive management.
- The company projects 2026 profitability to exceed 2025, driven by reduced EV losses, lower warranty costs, tariff offsets, regulatory tailwinds, and optimized fixed costs.
- Tariff outlook improves with anticipated Korea relief, potential Mexico/Canada adjustments, and expanded MSRP rebate, offsetting gross tariffs of $3.5–4.5 billion with 35% mitigation.
- EV strategy includes a capacity right-sizing charge to align production with demand and a roadmap for improved EV margins via LMR technology and prismatic cells.
- Capital allocation remains disciplined: CapEx of $10–12 billion, $1.5 billion debt paydown, and approximately $5 billion in shareholder returns for FY 2025.
Nov 19, 2025, 1:40 PM
NMG updates Phase-2 graphite project progress
GM
New Projects/Investments
- Secured offtake agreements covering nearly 100% of Phase-2 Matawinie Mine production, including a 30,000 tpa binding term sheet with the Government of Canada (15,000 tpa take-or-pay) and a revised 13,000 tpa active anode material offtake with Panasonic Energy.
- Advanced project development with engineering, procurement, and financing due diligence nearing completion for Phase-2 Matawinie Mine and Bécancour Battery Material Plant, with long-form term sheet negotiations ongoing ahead of FID.
- Updated NI 43-101 Feasibility Study confirms a 25-year mine life with 105,882 tpa graphite concentrate production, US$421 M CAPEX, and US$44 M annual OPEX.
- Maintained robust financial and safety metrics with C$61.7 M cash at period end and a 12-month TRIFR of 3.77 with no major environmental incidents.
Nov 12, 2025, 12:30 PM
GM plans supplier shift from China by 2027
GM
New Projects/Investments
- GM instructs thousands of suppliers to eliminate Chinese parts and materials from its supply chain by 2027 amid escalating U.S.-China trade tensions.
- Directives expand beyond batteries and semiconductors to basic automotive components, with GM investing in domestic resources such as a lithium mine in Nevada and rare-earth partnerships.
- Suppliers are encouraged to source raw materials and components from North America or other non-China countries, excluding those under U.S. trade restrictions like Russia and Venezuela.
- GM executives emphasize that supply chain resilience now takes precedence over cost savings, aiming for greater control and predictability.
- CEO Mary Barra and Global Purchasing Chief Shilpan Amin have publicly highlighted this strategic shift toward localized production and resilience.
Nov 12, 2025, 6:05 AM
GM expands NHTSA probe into engine failures
GM
Legal Proceedings
- NHTSA has expanded its investigation to 286,000 vehicles from model years 2019–2021 and select 2024 models outside the original recall scope.
- The original recall covered 721,000 vehicles produced between March 1, 2021 and May 31, 2024.
- The inquiry was upgraded from a preliminary evaluation opened in January 2025 to a full engineering analysis to assess scope and severity.
- The agency has received 1,157 complaints of engine bearing failures, including 173 from vehicles not covered by the recall.
- Issues involve defects in connecting rods and crankshafts that could cause catastrophic failures in Silverado, Sierra and Escalade models.
Oct 27, 2025, 10:40 AM
GM lays off 200+ salaried workers at Michigan Tech Center
GM
Layoffs
Guidance Update
- GM cut over 200 salaried employees, primarily CAD engineers, at its Michigan Tech Center to streamline core architectural design engineering and boost profitability.
- The move aligns with broader restructuring amid competitive pressures and recent tariff policies, not performance issues.
- The layoffs follow GM’s halt of BrightDrop electric van production, which had already led to 500 layoffs in Canada due to weak demand.
- Despite these cuts, GM reported better-than-expected Q3 results and raised its 2025 guidance, driving a surge in its stock price.
- Net income margin declined from 6.3% to 2.7% year-over-year, highlighting ongoing profitability challenges.
Oct 24, 2025, 4:28 PM
Quarterly earnings call transcripts for General Motors.
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