10-QPeriod: Q1 FY2026

General Motors Co Quarterly Report for Q1 Ended Mar 31, 2026

Filed April 28, 2026For Securities:GM

Summary

General Motors (GM) reported its first-quarter 2026 financial results, showing a slight decrease in total net sales and revenue to $43.6 billion, down from $44.0 billion in the prior year's quarter. This marginal decline was primarily driven by lower automotive net sales, partially offset by growth in GM Financial's revenue. Operating income saw a decrease to $2.9 billion from $3.4 billion year-over-year, impacting net income attributable to stockholders, which fell to $2.6 billion ($2.82 per diluted share) from $2.8 billion ($3.35 per diluted share). The company's financial performance reflects ongoing strategic adjustments, particularly concerning its Electric Vehicle (EV) strategy and the impact of new tariffs. GM incurred significant charges related to its EV capacity reassessment and manufacturing footprint alignment, as well as additional costs from ongoing commercial negotiations. Despite these headwinds, GM maintained a strong liquidity position with total Automotive available liquidity of $33.2 billion.

Financial Highlights

44 data points
Beta

Revenue

$43.62B

Net Income

$2.63B

6.0% Net Margin

EPS (Diluted)

$2.82

Total Assets

$280.97B

Cash & Equivalents

$19.80B

Free Cash Flow

$1.44B

Financial Statements
Beta
Revenue$43.62B
Operating Expenses$40.70B
Operating Income$2.93B
Net Income$2.63B
EPS (Basic)$2.87
EPS (Diluted)$2.82
Shares Outstanding (Basic)911.00M
Shares Outstanding (Diluted)926.00M

Key Highlights

  • 1Total net sales and revenue decreased slightly to $43.62 billion for Q1 2026, down from $44.02 billion in Q1 2025.
  • 2Operating income declined to $2.93 billion in Q1 2026, compared to $3.35 billion in Q1 2025.
  • 3Net income attributable to stockholders decreased to $2.63 billion ($2.82 per diluted share) in Q1 2026, from $2.78 billion ($3.35 per diluted share) in Q1 2025.
  • 4GM recognized additional charges of $1.1 billion in Q1 2026 related to its EV capacity reassessment and ongoing commercial negotiations.
  • 5GM Financial's revenue increased to $4.28 billion, up from $4.16 billion in the prior year quarter.
  • 6Total Automotive available liquidity stood at $33.2 billion as of March 31, 2026.
  • 7The company announced an increase to its share repurchase program capacity by $6.0 billion in January 2026.

Frequently Asked Questions

General Motors experienced a slight decrease in total net sales and revenue, dropping to $43.62 billion from $44.02 billion in the first quarter of 2025. This was accompanied by a decline in operating income to $2.93 billion from $3.35 billion, and a decrease in net income attributable to stockholders to $2.63 billion ($2.82 per diluted share) from $2.78 billion ($3.35 per diluted share) in the same period.

GM recognized additional charges of $1.1 billion in the first quarter of 2026 related to its ongoing reassessment of EV capacity and manufacturing footprint, along with commercial negotiations with suppliers and joint venture partners. The company also noted the impact of policy changes affecting EV demand and the regulatory environment for emissions.

GM Financial demonstrated growth, with its revenue increasing to $4.28 billion in the first quarter of 2026, up from $4.16 billion in the prior year's quarter. The provision for loan losses decreased by 18.7% year-over-year, and its EBT-adjusted saw a slight increase.

General Motors maintains a strong liquidity position with total Automotive available liquidity of $33.2 billion as of March 31, 2026. The company plans to fund its substantial cash requirements through existing liquidity, operating cash flow, and potential capital markets access. Key capital allocation priorities include investing in its business at target returns, maintaining a strong balance sheet, and returning cash to stockholders, evidenced by an increased share repurchase program capacity of $6.3 billion.