General Motors said third quarter adjusted earnings before interest and tax rose 22 percent from a year earlier to 4.1 billion dollars, or 3.70 dollars a share, topping the 3.63 dollars analysts expected on LSEG data, as a richer mix of large pickup trucks and fewer loss making electric vehicle sales lifted its North America margin to 8.7 percent from 6.2 percent. Revenue rose 2.9 percent to 50 billion dollars. The company narrowed full year adjusted EBIT guidance to 14.5 billion to 15.5 billion dollars and adjusted earnings to 12.75 to 13.75 dollars a share, a midpoint below the 13.41 dollars analysts had pencilled in, and said commodity inflation including logistics and chips would total about 2 billion dollars this year, the high end of its earlier estimate.
GM also approved a multiyear 20 billion dollar share buyback, on top of about 29.5 billion dollars repurchased since 2023, and said it still expects next year’s results to improve if consumer demand holds and cost pressures moderate.