General Motors reported first-quarter 2026 revenue of $43.6 billion, down 0.9% from $44.0 billion a year earlier. Net income attributable to stockholders fell 5.7% to $2.63 billion from $2.78 billion.
Profitability improved on an operating basis. EBIT-adjusted rose 21.9% to $4.25 billion from $3.49 billion, lifting EBIT-adjusted margin to 9.7% from 7.9%. Net income margin slipped to 6.0% from 6.3%.
Per-share results moved higher on an adjusted basis but lower on a reported basis. Adjusted diluted EPS climbed 33.0% to $3.70 from $2.78, while diluted EPS fell 15.9% to $2.82 from $3.35.
Cash generation was mixed. Automotive operating cash flow dropped sharply to $533 million from $2.40 billion a year ago, a decline of 77.8%. Adjusted automotive free cash flow increased 56.4% to $1.27 billion from $811 million.
By region and unit, GM North America EBIT-adjusted increased 11.4% to $3.66 billion from $3.29 billion, with margin widening to 10.1% from 8.8%. GM International EBIT-adjusted rose to $123 million from $30 million, and China equity income increased to $165 million from $45 million.
GM also raised its 2026 EBIT-adjusted outlook to $13.5 billion to $15.5 billion from $13.0 billion to $15.0 billion. It lowered expected gross tariff costs to $2.5 billion to $3.5 billion from $3.0 billion to $4.0 billion.
Other full-year guidance shifted as well. Net income attributable to stockholders is now expected at $9.9 billion to $11.4 billion, down from $10.3 billion to $11.7 billion. Automotive operating cash flow was cut to $16.8 billion to $20.8 billion from $19.0 billion to $23.0 billion. Adjusted automotive free cash flow remained unchanged at $9.0 billion to $11.0 billion.
GM declared a quarterly dividend of $0.18 per share, payable June 18, 2026, to shareholders of record on June 5. Today the company's shares have moved -0.6% to a price of $78.05. If you want to know more, read the company's complete 8-K report here.
