Jun 2026 (Q2 FY26) — Jul 21, 2026
General Motors Q2 FY26 — Strong Performance Drives Raised Full-Year Guidance
Read the full callGeneral Motors (GM) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
General Motors earnings: last reported Tue, 21 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 48,026 | +1.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 3.0 | −1.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,305 | −31.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
15 of 19 judged targets kept · 45 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full-year adjusted automotive free cash flow | $9 billion to $11 billion | Dec 2025 | adjusted automotive free cash flow of $9.5 billion to $11.5 billion, up from $9 billion to $11 billion previously | Revised Up |
| Full-year benefit from rightsizing EV capacity | $1 billion to $1.5 billion | Dec 2025 | We continue to expect losses to improve by $1 billion to $1.5 billion for the full year | On Track |
| China joint-venture equity income profitable for the full year | profitable equity income for the full year | Dec 2024 | Complementing our performance in GM North America was our sixth consecutive profitable quarter in China | Achieved |
4 of General Motors Co's 64 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 61 more targets are in the full ledger.
Claimed
- Q2 FY26 EBIT adjusted was $3.9 billion, up $900 million year-over-year.
- North America EBIT adjusted margin reached 8.6% in Q2 FY26, an improvement of 2.5 points year-over-year.
- Adjusted automotive free cash flow was $5 billion in Q2 FY26, up $2.2 billion year-over-year.
- Full-year 2026 guidance for EBIT adjusted was raised to $14 billion-$16 billion, EPS diluted adjusted to $12-$14, and adjusted automotive free cash flow to $9.5 billion-$11.5 billion.
- GM Defense expects 2026 revenue to grow to almost $700 million and is targeting positive EBIT for the year.
Qualified
- EV-related restructuring charges totaled $2.3 billion in Q2 FY26, contributing to $10.9 billion since H2 2025.
- Commodity inflation, logistics, and higher DRAM costs are expected to be a $1.5 billion-$2 billion headwind for FY26.
- GM International ex-China is expected to see some softness due to the dynamic environment in the Middle East.
- The fourth quarter is expected to be somewhat weaker than typical seasonal patterns due to new full-size truck launch costs and a 35,000-unit volume headwind.
Price
$82.75 −1.44% · −$1.21
Performance +41.7% 1Y
1Y: $58.38 on 17 Oct 2025 → $82.75. High $90.3 (28 Jul 2026), low $58 (20 Oct 2025).
- Previous close
- $83.96
- 52-week range
- $58 – $90.3
- One year
- +42.67%
Overview
- Symbol
- GM
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
15 of 19 judged targets kept · 45 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full-year adjusted automotive free cash flow | $9 billion to $11 billion | Dec 2025 | adjusted automotive free cash flow of $9.5 billion to $11.5 billion, up from $9 billion to $11 billion previously | Revised Up |
| Full-year benefit from rightsizing EV capacity | $1 billion to $1.5 billion | Dec 2025 | We continue to expect losses to improve by $1 billion to $1.5 billion for the full year | On Track |
| China joint-venture equity income profitable for the full year | profitable equity income for the full year | Dec 2024 | Complementing our performance in GM North America was our sixth consecutive profitable quarter in China | Achieved |
Claimed
- Q2 FY26 EBIT adjusted was $3.9 billion, up $900 million year-over-year.
- North America EBIT adjusted margin reached 8.6% in Q2 FY26, an improvement of 2.5 points year-over-year.
- Adjusted automotive free cash flow was $5 billion in Q2 FY26, up $2.2 billion year-over-year.
- Full-year 2026 guidance for EBIT adjusted was raised to $14 billion-$16 billion, EPS diluted adjusted to $12-$14, and adjusted automotive free cash flow to $9.5 billion-$11.5 billion.
- GM Defense expects 2026 revenue to grow to almost $700 million and is targeting positive EBIT for the year.
Qualified
- EV-related restructuring charges totaled $2.3 billion in Q2 FY26, contributing to $10.9 billion since H2 2025.
- Commodity inflation, logistics, and higher DRAM costs are expected to be a $1.5 billion-$2 billion headwind for FY26.
- GM International ex-China is expected to see some softness due to the dynamic environment in the Middle East.
- The fourth quarter is expected to be somewhat weaker than typical seasonal patterns due to new full-size truck launch costs and a 35,000-unit volume headwind.
The full ledger
Open General Motors Co’s full ledger
A free account opens 5 company ledgers a month. All 64 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
General Motors Company Q1 FY26 — Strong NA Margins & Digital Services Growth
Read the full callDec 2025 (Q4 FY25) — Jan 27, 2026
General Motors Company Q4 FY25 — Strong Cash Flow and North America Margin Recovery
Read the full callEvery analysed call
General Motors earnings calls (GM)
Financials
What the filings say
Net profit, year on year: −31% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 48,757 | 47,702 | 44,020 | 47,122 | 48,591 | 45,286 | 43,624 | 48,026 |
| Operating profit | 3,651 | 1,522 | 3,352 | 2,127 | 1,076 | -3,646 | 2,926 | 1,459 |
| Operating margin | 7.5% | 3.2% | 7.6% | 4.5% | 2.2% | −8.1% | 6.7% | 3.0% |
| Other income | 394 | 501 | 310 | 366 | 475 | 384 | 307 | 223 |
| Profit before tax | 3,717 | 2,119 | 3,572 | 2,375 | 1,419 | -4,249 | 3,347 | 1,568 |
| Tax rate | 19.1% | 15.0% | 20.1% | 20.3% | 8.9% | 23.3% | 19.2% | 13.7% |
| Net profit | 3,056 | -2,961 | 2,784 | 1,895 | 1,327 | -3,309 | 2,627 | 1,305 |
| EPS ($ per share) | 2.71 | — | 3.40 | 1.94 | 1.37 | — | 2.87 | 1.44 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 14 | 14 | 14 | 15 | 14 | 12 | 10 | 9 |
| Reserves | 22,322 | 26,860 | 31,962 | 41,937 | 49,251 | 55,391 | 53,472 | 51,524 |
| Total liabilities | 184,562 | 182,080 | 185,517 | 178,903 | 191,752 | 204,757 | 214,171 | 218,116 |
| Fixed assets | 38,758 | 38,750 | 37,632 | 41,115 | 45,248 | — | — | — |
| Investments | 5,966 | — | — | — | — | — | — | — |
| Total assets | 227,339 | 228,037 | 235,194 | 244,718 | 264,037 | 273,064 | 279,761 | 281,284 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 15,256 | 15,021 | 16,670 | 15,188 | 16,043 | 20,930 | 20,129 | 26,867 |
| Cash from investing | -20,763 | -10,899 | -21,826 | -16,355 | -17,882 | -14,663 | -20,517 | -16,134 |
| Cash from financing | 11,454 | -4,677 | 5,552 | 1,744 | 383 | -6,353 | 1,938 | -9,590 |
| Net cash flow | 5,648 | -553 | 174 | 425 | -1,594 | -31 | 1,047 | 1,320 |
| Capital expenditure | -8,761 | -7,592 | -5,300 | -7,509 | -9,238 | -10,970 | -10,830 | -9,303 |
| Free cash flow | 6,495 | 7,429 | 11,370 | 7,679 | 6,805 | 9,960 | 9,299 | 17,564 |
GM revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| GM North America | — | — | 85% | 84% | 83% | — | 83% | 83% | +1.1% |
| GM Financial | 8% | 9% | 9% | 9% | 9% | — | 10% | 9% | +0.3% |
| GMI | 7% | 8% | 6% | 7% | 8% | 39% | 7% | 8% | +11.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
98 filings between Oct 22, 2025 and Aug 3, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$167.65M
37 sales by 6 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 6
- Award — granted as compensation
- 35
- Option exercise — converted options into shares
- 20
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Barra Mary T | — | $87.03M | Jul 28, 2026 |
| Reuss Mark L | — | $62.42M | Jul 28, 2026 |
| Harvey Rory | — | $8.60M | Jul 27, 2026 |
| DIXTON GRANT MICHAEL | — | $3.54M | Aug 3, 2026 |
| Jacobson Paul A | — | $3.20M | May 26, 2026 |
| Hatto Christopher | — | $2.86M | Jul 28, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 3, 2026 | DIXTON GRANT MICHAEL Executive Vice President | Sale 10b5-1 plan | 40,000 | $3.54M |
| Jul 30, 2026 | DIXTON GRANT MICHAEL Executive Vice President | Option exercise 10b5-1 plan | 79,132 | $0 |
| Jul 30, 2026 | DIXTON GRANT MICHAEL Executive Vice President | Tax withheld 10b5-1 plan | 35,056 | $3.10M |
| Jul 29, 2026 | Anderson Sterling Exective Vice President | Tax withheld | 48,820 | $4.36M |
| Jul 29, 2026 | Anderson Sterling Exective Vice President | Option exercise | 95,951 | $0 |
| Jul 28, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 48,659 | $4.40M |
| Jul 28, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 91,843 | $8.30M |
| Jul 28, 2026 | Reuss Mark L President | Sale 10b5-1 plan | 71,079 | $6.39M |
| Jul 28, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 91,843 | $3.80M |
| Jul 28, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 69,564 | $3.44M |
| Jul 28, 2026 | Hatto Christopher Vice President & CAO | Sale 10b5-1 plan | 6,895 | $620.5K |
| Jul 28, 2026 | Reuss Mark L President | Option exercise 10b5-1 plan | 71,079 | $3.52M |
| Jul 28, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 108,382 | $9.80M |
| Jul 28, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 48,659 | $2.54M |
| Jul 28, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 69,564 | $6.29M |
| Jul 27, 2026 | Harvey Rory Executive Vice President | Sale 10b5-1 plan | 8,882 | $772.3K |
| Jul 27, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 49,495 | $4.22M |
| Jul 27, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 49,495 | $2.58M |
| Jul 27, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 54,866 | $4.68M |
| Jun 16, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 8,896 | $464.0K |
| Jun 16, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 6,867 | $284.3K |
| Jun 16, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 8,896 | $757.0K |
| Jun 16, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 83,476 | $4.13M |
| Jun 16, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 83,476 | $7.10M |
| Jun 16, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 6,867 | $584.4K |
| Jun 9, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 20,582 | $852.1K |
| Jun 9, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 20,582 | $1.75M |
| May 29, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 23,000 | $1.96M |
| May 29, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 23,000 | $952.2K |
| May 28, 2026 | Harvey Rory Executive Vice President | Sale 10b5-1 plan | 9,124 | $775.3K |
| May 28, 2026 | Hatto Christopher Vice President & CAO | Sale 10b5-1 plan | 6,895 | $586.1K |
| May 28, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 59,762 | $5.08M |
| May 28, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 59,762 | $2.47M |
| May 28, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 75,192 | $6.39M |
| May 27, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 103,057 | $8.48M |
| May 27, 2026 | Harvey Rory Executive Vice President | Sale 10b5-1 plan | 65,912 | $5.47M |
| May 27, 2026 | Harvey Rory Executive Vice President | Sale 10b5-1 plan | 13,582 | $1.13M |
| May 26, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 91,843 | $3.80M |
| May 26, 2026 | Jacobson Paul A Executive Vice President & CFO | Sale 10b5-1 plan | 40,000 | $3.20M |
| May 26, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 5,325 | $426.1K |
| May 26, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 48,659 | $3.89M |
| May 26, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 48,659 | $2.54M |
| May 26, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 69,564 | $5.57M |
| May 26, 2026 | Barra Mary T Chair & CEO | Option exercise 10b5-1 plan | 69,564 | $3.44M |
| May 26, 2026 | Barra Mary T Chair & CEO | Sale 10b5-1 plan | 91,843 | $7.35M |
| May 22, 2026 | Harvey Rory Executive Vice President | Option exercise 10b5-1 plan | 5,652 | $234.0K |
| May 22, 2026 | Harvey Rory Executive Vice President | Sale 10b5-1 plan | 5,652 | $449.7K |
| Feb 17, 2026 | Reuss Mark L President | Option exercise 10b5-1 plan | 147,569 | $5.24M |
| Feb 17, 2026 | Reuss Mark L President | Sale 10b5-1 plan | 82,489 | $6.61M |
| Feb 17, 2026 | Reuss Mark L President | Option exercise 10b5-1 plan | 82,489 | $4.30M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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