GM Q3 Net Income Surges 151% to $3.3B, Board Approves $20 Billion Buyback

General Motors reported third-quarter 2026 results on October 20 with net income attributable to stockholders of $3.3 billion — up 151% from $1.32 billion a year earlier — on revenue of $50.02 billion, up 2.9% and ahead of the $48.78 billion consensus. Adjusted EBIT rose 22% to $4.1 billion, diluted EPS reached $3.73, and total wholesale deliveries increased 5.2% to 1,028,000 vehicles. Alongside the results, the board authorized a $20 billion multiyear share repurchase program — enough to buy back roughly 27.5% of outstanding shares — and declared a $0.18 quarterly dividend payable December 17.

The quarter’s performance was driven almost entirely by North America, where EBIT-adjusted grew 43.4% to $3.59 billion. GM International moved the other way: EBIT-adjusted fell 87.7% to $28 million, and China equity income dropped 60.3% to $32 million. For the full year, GM narrowed its adjusted EBIT guidance to $14.5–15.5 billion from the prior $14–16 billion range, and raised its adjusted automotive free cash flow outlook to $11.5–12.5 billion. Adjusted diluted EPS is now projected at $12.75 to $13.75.

A less-visible line item is also growing: GM Defense. The business, separate since 1996, expanded its U.S. Army contract for Infantry Squad Vehicles to a cumulative face value of $915.6 million on September 21, and Lockheed Martin confirmed it accepted first delivery of mission-critical components produced by GM Defense after inking a deal weeks earlier. Ford and Stellantis report earnings on October 28, which will show whether GM’s quarter was company-specific or sector-wide.