GM Q3 revenue hits record 50 billion dollars

General Motors reported record third-quarter revenue of $50 billion, up 2.9% from a year earlier, as strong pickup truck sales carried the company through a quarter of rising costs. GM Q3 revenue beat analyst expectations, and adjusted earnings before interest and tax rose 22% to $4.1 billion. Adjusted diluted earnings per share reached $3.70, up more than 30% from a year earlier and ahead of the $3.63 consensus estimate compiled by LSEG.

The company said quarterly net income attributable to shareholders was about $3.3 billion, up roughly 1.5 times from $1.327 billion a year earlier. Adjusted automotive free cash flow came in at $5.9 billion on the back of GM Q3 revenue, a four-year high, and GM ended the quarter with $23.1 billion in automotive cash. Chief financial officer Paul Jacobson told analysts: "Revenue for the quarter was a record $50 billion, up 3% year-over-year. EBIT adjusted was $4.1 billion, up 22% year-over-year."

How GM Q3 revenue grew without selling more cars

GM sold fewer vehicles in the United States than a year earlier, yet GM Q3 revenue still rose. US deliveries came to about 671,000 vehicles in the quarter, down 5.5% from a year earlier. The growth came from what GM sold rather than how many: a richer mix of full-size pickups and SUVs, disciplined discounting and lower warranty expenses lifted revenue even as deliveries fell.

Pickup truck sales did the heavy lifting for GM Q3 revenue. Light-duty full-size pickup sales rose 9% from a year earlier in the final year of their product cycle, Jacobson said, leaving GM on track to lead the industry in full-size pickup sales in 2026 for the seventh consecutive year. Internal combustion engine sales of 645,000 were slightly up from a year earlier despite discontinued models. North America was the profit centre, with adjusted earnings before interest and tax of $3.6 billion, up 43%, and a margin of 8.7%, up from 6.2% a year earlier.

Costs still weighed on GM Q3 revenue. GM said commodity inflation, including higher expenses for logistics and computer chips, would total about $2 billion this year, at the high end of its previous forecast. The company has also been pulling back on electric vehicle sales, which have historically lost money, after the Trump administration withdrew support for them. Fewer electric vehicles sold helped the bottom line in the quarter.

What General Motors earnings mean for the full year

Alongside the GM Q3 revenue figures, the company narrowed its full-year guidance. The company now expects 2026 adjusted earnings before interest and tax of $14.5 billion to $15.5 billion, narrowed from $14 billion to $16 billion, and adjusted earnings per share of $12.75 to $13.75. The midpoint of the earnings per share range sits below analyst estimates of about $13.41, according to LSEG data, and GM shares fell about 4% in premarket trading after the report, Reuters said.

The board also approved a multi-year $20 billion GM buyback program and declared a quarterly dividend of $0.18 per share. GM raised its 2026 adjusted automotive free cash flow outlook to $11.5 billion to $12.5 billion, up from $9.5 billion to $11.5 billion. GM has bought back about $29.5 billion of its own shares since 2023, a programme that cuts the share count and lifts per-share profit figures.

Beyond GM Q3 revenue, General Motors earnings also showed progress outside the United States. In China, the company posted its eighth consecutive profitable quarter, with third-quarter deliveries above 358,000 units and new-energy vehicles making up more than 60% of the mix, a record for the period, even though total sales there fell about 24% from a year earlier. Chief executive Mary Barra told analysts the company believes 2027 will be another strong year, assuming customer demand stays strong and recent cost pressures ease.

What GM Q3 revenue means for next year

After GM Q3 revenue beat expectations, the company is changing over to an all-new light-duty truck lineup, with deliveries expected to begin in the late fourth quarter. Jacobson said the company had completed four down weeks at its Silao assembly plant ahead of starting production of the new truck, and it plans four down weeks at Fort Wayne from mid-December, with production restarting in January. Production will start at a measured pace and ramp up over the coming months, he said.

The GM buyback and the raised cash flow outlook after GM Q3 revenue show a company confident it can fund that changeover while returning cash to shareholders.