GM
General Motors Company81.76
-0.22-0.27%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms script, pricing/warranty details
Q&A largely reaffirmed the prepared script, emphasizing pricing discipline with flat to +0.5% expected from MY26 carryover—no new hikes baked in despite competition. Management detailed warranty progress via V8 engine fixes and stabilizing cash flows for $1B benefit, plus hybrids planned for key segments within $10-12B capex. Super Cruise revenue jumps from prepaid amortization and 40% renewals; GM Financial's industrial bank to trim funding costs in basis points. Tariff self-help yields lower net exposure than 2025. No contradictions surfaced. Confident tone on 8-10% NA margins. Truck launches matter next.
Key Stats
Market Cap
77.84BP/E (TTM)
15.60Basic EPS (TTM)
5.24Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
GM's FY2025 delivered $168B automotive revenue amid 3.8M wholesale units, down 5% y/y from 4.0M, with GMNA volumes off 4.8% to 3.3M yet holding 17.2% U.S. share via trucks/SUVs; EBIT-adjusted fell to $12.7B from $14.9B, hammered by $7.9B EV realignment charges in H2 and $3.1B tariffs, while warranty costs rose $1.3B. Q4 saw sequential EV capacity cuts complete after $7.7B writedowns, but full-size trucks/SUVs drove mix gains. Automotive free cash flow held at $9.5B despite $9.2B capex; $6B buybacks and $0.5B dividends returned capital. Liquidity stayed rock-solid at $35.7B. Evolving tariffs risk quarterly margins.
8-K
GM earnings miss, dividend up
GM reported 2025 net income of $2.7B, missing guidance due to $7.2B+ Q4 special charges from EV capacity realignment amid demand drops and policy shifts; EBIT-adjusted hit $12.7B. Shares outstanding fell to 904M from buybacks. Board hiked quarterly dividend 20% to $0.18/share and greenlit $6B repurchase. 2026 guidance eyes $10.3B-$11.7B net income. Cash strong, yet charges sting.
8-K
GM flags $7B Q4 charges
General Motors disclosed ~$6.0B in Q4 2025 charges, mostly EV-related in GMNA, with $1.8B non-cash impairments and $4.2B cash-impacting supplier settlements after pivoting Orion plant to ICE SUVs and selling Ultium Cells stake. Additional $1.1B non-EV charges hit from China JV restructuring and legal accrual. Charges mount fast. More cash hits loom in 2026 from supply talks.
10-Q
Q3 FY2025 results
General Motors posted Q3 revenue of $48.6B, down 0.3% y/y but flat q/q, with automotive sales dipping 1.1% y/y on lower volumes yet buoyed by favorable mix from full-size trucks and SUVs. Operating income fell to $1.1B from $3.7B y/y, pressured by $1.6B in EV capacity realignment charges and tariff hits of $1.1B, while gross margins squeezed to 13.6% amid rising warranty costs up $0.9B y/y. Diluted EPS dropped to $1.35 from $2.68 y/y, aligning with 964M shares; net income attributable to stockholders was $1.3B. Cash swelled to $22.9B, with automotive liquidity steady at $35.7B and free cash flow at $7.0B (derived) for the quarter, supporting $1.5B in buybacks. GM Financial grew revenue 7.6% y/y to $4.3B on portfolio expansion. Tariffs pose the sharpest near-term risk, potentially disrupting supply chains further.
8-K
GM Q3 earnings dip, guidance up
General Motors reported Q3 2025 revenue of $48.6 billion, down 0.3% year-over-year, with net income attributable to stockholders plunging 56.6% to $1.3 billion amid $1.9 billion in restructuring charges for EV realignment and Cruise integration. EBIT-adjusted fell 18.0% to $3.4 billion, while GM North America EBIT-adjusted dropped 37.1% to $2.5 billion. Yet cash flow held firm. GM raised full-year EBIT-adjusted guidance to $12.0-$13.0 billion, signaling confidence despite headwinds.
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