General Motors Q3 Revenue Hits $50 Billion, Approves $20 Billion Buyback as Stock Slides

General Motors beat Wall Street's third-quarter 2026 expectations on revenue and adjusted earnings per share, reporting net sales of $50.02 billion against estimates of roughly $48.53 billion to $48.77 billion, and adjusted EPS of $3.70 against estimates in the $3.56 to $3.63 range. GAAP net income came in at $3.34 billion, or $3.73 per share, a sharp improvement from $1.33 billion, or $1.35 per share, in the same quarter a year earlier. Vehicle sales reached 1.03 million units, exceeding the consensus estimate of about 982,500 units.

North America was the clear profit engine, with adjusted EBIT rising 43.4% year over year to $3.59 billion and a margin of 8.7%, up 2.5 percentage points. International operations were a significant drag, posting adjusted EBIT of just $28 million against expectations of roughly $130 million, a decline of about 87.7% year over year. China equity income fell to $32 million from $80 million a year ago. Total adjusted EBIT of $4.11 billion missed the consensus estimate of approximately $4.24 billion to $4.25 billion. GM Financial reported net income of $487 million for the quarter, down from $589 million in Q3 2025.

GM narrowed its full-year 2026 guidance, setting adjusted EPS at $12.75 to $13.75, compared with a prior range of $12.00 to $14.00. Full-year adjusted EBIT guidance was narrowed to $14.5 billion to $15.5 billion from $14 billion to $16 billion. The company raised its adjusted automotive free cash flow outlook to $11.5 billion to $12.5 billion from a prior range of $9.5 billion to $11.5 billion. GM also said it expects 2027 to be better than 2026.

Alongside the results, GM's board approved a new $20 billion multi-year share repurchase program, which executives said reflects their view that the stock is fundamentally undervalued. The company also declared a quarterly dividend of $0.18 per share, payable December 17, 2026. Despite the headline beats, the stock declined on the session, with investors appearing to focus on the international earnings miss, the $238 million EV strategic realignment charge, and the tighter full-year guidance range.