GM beats Q3 estimates and authorizes $20B buyback, but full-year EPS guidance midpoint misses; shares sink ~4-7% premarket
What happened
General Motors reported Q3 revenue of $50.02 billion (+2.9% y/y), ahead of the $48.53 billion consensus, and adjusted EPS of $3.70 versus $3.56 expected (LSEG), with adjusted EBIT up 22% to $4.1 billion on strong large pickup-truck sales. GM completed its prior $6 billion buyback (launched January) and approved a new $20 billion multiyear repurchase program with no expiration date. But shares fell 4-7% premarket because the tightened full-year adjusted EPS guidance of $12.75-$13.75 lands below the $13.41 analyst consensus midpoint, and full-year adjusted EBIT was narrowed to $14.5-$15.5 billion from $14-$16 billion. GM pegged commodity/logistics/chip inflation at ~$2 billion this year, the high end of its prior forecast.
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Who’s affected
- General Motors (GM): down ~4-7% premarket on guidance midpoint miss despite beat and buyback
- Auto sector read-through: F, STLA on tariff/logistics cost commentary and pickup-truck mix strength
- Buyback-driven per-share EPS mechanics matter for the whole large-cap auto group
Sources