General Motors reported a challenging third quarter with a significant decline in net income and EBIT-adjusted, primarily driven by weakness in its North American operations. Despite a slight decrease in revenue, the company updated its full-year guidance, raising its outlook for EBIT-adjusted and adjusted diluted EPS, signaling confidence in future performance despite current quarter headwinds.
Full-year EBIT-adjusted guidance raised to $12.0B - $13.0B from $10.0B - $12.5B.
positiveFull-year adjusted diluted EPS guidance raised to $9.75 - $10.50 from $8.25 - $10.00.
positiveFull-year adjusted automotive free cash flow guidance range increased to $10.0B - $11.0B from $7.5B - $10.0B.
positiveGM Financial EBT-adjusted increased 17.0% to $804 million.
positiveNet income attributable to stockholders decreased 56.6% to $1.3 billion from $3.1 billion in the prior year.
negativeEBIT-adjusted decreased 18.0% to $3.4 billion from $4.1 billion in the prior year.
negativeNet income margin compressed to 2.7% from 6.3% in the prior year.
negativeEBIT-adjusted margin compressed to 6.9% from 8.4% in the prior year.
negativeAutomotive operating cash flow decreased 22.8% to $6.1 billion from $7.9 billion in the prior year.
negativeAdjusted automotive free cash flow decreased 28.0% to $4.2 billion from $5.8 billion in the prior year.
negativeGMNA EBIT-adjusted decreased 37.1% to $2.5 billion from $4.0 billion in the prior year.
negativeGMNA EBIT-adjusted margin compressed significantly to 6.2% from 9.7% in the prior year.
negativeDiluted EPS decreased 49.6% to $1.35 from $2.68 in the prior year.
negativeTotal net sales and revenue decreased 0.3% to $48.6 billion.
attentionWholesale vehicle sales volume decreased in both GMNA and GMI segments year-over-year.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Automotive | $44256000.0B | $44735000.0B | -1.1% | 91.1% |
GM Financial | $4337000.0B | $4031000.0B | +7.6% | 8.9% |
Cruise | $0.00M | $26000.0B | — | — |
| Total Revenue | $48593000.0B | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
| Metric | Value | Period | Specificity | vs Prior |
|---|---|---|---|---|
| EBIT adjusted | 12 to $13 billion | CY2025 | — | — |
| EPS diluted adjusted | 975 to 1050 per share | CY2025 | — | — |
| adjusted automotive free cash flow | 10 to 11 billion | CY2025 | — | — |
| capital expenditures | lower end of our 10 to 11 billion guidance range | CY2025 | — | — |
| gross tariff exposure | 3.5 to $4.5 billion | CY2025 | — | — |
| total vehicle SAR | around 16.5 million units | CY2025 | — | — |
| North America pricing | up half a point to 1% | full year | — | — |
| EBT adjusted | 2.5 to3 billion | full year | — | — |
| EBIT margins | 8 to 10% | over time | — | — |
| EV losses | reduce in 2026 and beyond | 2026 and beyond | — | — |
| revenue from software and services | nearly $2 billion | So far this year | — | — |
| deferred revenue | up 14% from Q2 to almost $5 billion | Q2 to present | — | — |
| OnStar subscribers | up 34% year-over-year | current | — | — |
| Super Cruise customers | more than 500,000 | current | — | — |
| revenue growth from software and services | robust double-digit revenue growth | through the end of the decade | — | — |
| gross margins from software and services | about 70% | through the end of the decade | — | — |
| EBIT adjusted | $3.4 billion | Q3 | — | — |
| EBIT adjusted margins | 6.2 2% | Q3 | — | — |
| US EV market share | 16.5% | October | — | — |
| warranty expense | $900 million headwind | Q3 | — | — |
| China equity income | $80 million | Q3 | — | — |
| GM Financial EBT adjusted | $800 million | Q3 | — | — |
| capital projects | $2.1 billion | Q3 | — | — |
| balance sheet debt | $1.3 billion | Q3 | — | — |
| stock repurchases | $1.5 billion | Q3 | — | — |
| stock repurchases | $3.5 billion | year-to-date | — | — |
| diluted share count | 954 million | end of Q3 | — | — |
| USMCA content | 80% | current | — | — |
| net tariff exposure | lower in 26 than it was in 2025 | 2026 | — | — |
| EBIT margins | 8 to 10% | over time | — | — |
| North America EBIT margins | 8 to 10% | over time | — | — |
| warranty expense | come over the hump | 2026 and into 2027 and beyond | — | — |
| software and services revenue | approximate 70% gross margins | current | — | — |
| EBIT | $14.5 billion | 2026 | — | — |
GM is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs.
GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future.
The company is updating its 2025 full-year earnings guidance, raising its outlook for EBIT-adjusted and adjusted diluted EPS.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.