Analyst Consensus ?
ConsensusBuy51 ratings
Bullish3466.7%
Neutral1325.5%
Bearish47.8%
General Motors Company · GM · FY2026 Q2 · Calendar Q3 2026
GM Beats Q2 Estimates, Raises Full-Year Guidance on Pickup Strength and Software Growth
GM's Q2 2026 results reinforced a two-quarter pattern of operational outperformance. EPS of $3.57 beat consensus by 11.9% and revenue of $48.0B exceeded estimates by 2.2%, driven by record full-size pickup deliveries and expanding software and services revenue. The company raised full-year 2026 guidance across EBIT ($14-16B), EPS ($12-14), and adjusted free cash flow ($9.5-11.5B) for the second consecutive quarter. While EV restructuring charges of $2.3B in Q2 were substantial, management indicated the bulk of cash impact is now behind the company. Non-auto businesses — GM Defense and GM Insurance — are emerging as meaningful growth platforms. The market responded positively, with shares rising 4.9% on the report and drifting 13.6% higher subsequently on 1.66x baseline volume. The consensus analyst target of $100.10 sits about 11% above the current price of $90.30, suggesting the…
Reported Before market openNYSEConsumer Cyclical
$81.67B market cap
100quality score
Company context
Snapshot as of publicationGeneral Motors Company, a prominent global automotive enterprise, is engaged in the design, manufacturing, and distribution of a wide array of vehicles—including trucks, crossovers (SUVs), and passenger cars—along with related parts and accessories. Its expansive reach covers numerous regions such as North America, the Asia Pacific, the Middle East, Africa, South America, with significant operations in the United States and China. The company organizes its business into distinct segments: GM North America, GM International, Cruise, and GM Financial. It markets its diverse vehicle lineup under well-known brand names like Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, and Wuling. Beyond selling to individual consumers through dealerships, GM also supplies its vehicles—including specialized models—to a variety of fleet clients, such as daily rental companies, commercial businesses, leasing firms, and government agencies.…
Earnings scorecard
Reported versus consensus
Reported EPS
$3.57
Consensus $3
EPS surprise
+11.9%
Reported versus consensus
Reported revenue
$48.03B
Consensus $47.01B
Revenue surprise
+2.2%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$90.3Previous close
$30Low
$77.9Average
$130High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Jul 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Jefferies | Buy | Hold | Upgrade | Jul 27, 2026 |
| Wells Fargo | Underweight | Underweight | Maintain | Jul 22, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 22, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 22, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 22, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 22, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jul 22, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 22, 2026 |
| Citigroup | Buy | Buy | Maintain | Jun 1, 2026 |
| Wedbush | Outperform | Outperform | Maintain | May 11, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | May 4, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Apr 29, 2026 |
| UBS | Buy | Buy | Maintain | Apr 14, 2026 |
| Deutsche Bank | Buy | Hold | Upgrade | Apr 14, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Mar 25, 2026 |
| Benchmark | Buy | Buy | Maintain | Feb 10, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jan 28, 2026 |
| HSBC | Hold | Hold | Maintain | Jan 13, 2026 |
| Tigress Financial | Strong Buy | Strong Buy | Maintain | Oct 24, 2025 |
| B of A Securities | Buy | Buy | Maintain | Jul 23, 2025 |
| Bernstein | Underperform | Market Perform | Downgrade | Apr 7, 2025 |
| Nomura | Reduce | Neutral | Downgrade | Aug 5, 2024 |
| CFRA | Sell | Strong Sell | Maintain | Oct 4, 2023 |
| Berenberg | Hold | Buy | Downgrade | Jan 30, 2023 |
| Exane BNP Paribas | Outperform | Outperform | Maintain | Apr 11, 2022 |
| Nomura Instinet | Neutral | Buy | Downgrade | Feb 9, 2022 |
| Daiwa Capital | Neutral | Outperform | Downgrade | Dec 14, 2021 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 5, 2021 |
| Tudor Pickering | Buy | Buy | Maintain | May 19, 2021 |
| Argus Research | Buy | Hold | Upgrade | Jan 14, 2021 |
| Buckingham Research | Neutral | Neutral | Maintain | Oct 15, 2019 |
| Buckingham | Neutral | Neutral | Maintain | Oct 15, 2019 |
| Citi | Buy | Buy | Maintain | Aug 2, 2019 |
| Seaport Global | Buy | Buy | Maintain | Feb 13, 2019 |
| BMO Capital | Outperform | Outperform | Maintain | Jan 14, 2019 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| Bank of America | Buy | Buy | Maintain | Feb 7, 2018 |
| Guggenheim | Buy | Neutral | Upgrade | Nov 20, 2017 |
| Standpoint Research | Hold | Buy | Downgrade | Sep 14, 2017 |
| Macquarie | Outperform | Outperform | Maintain | Dec 1, 2016 |
| Craig-Hallum | Hold | Buy | Downgrade | Oct 25, 2016 |
| PiperJaffray | Overweight | Overweight | Maintain | Jun 9, 2016 |
| Susquehanna | Neutral | Neutral | Maintain | Aug 5, 2015 |
| CLSA | Outperform | Buy | Maintain | Jul 25, 2014 |
| S&P Capital IQ | Strong Buy | Hold | Upgrade | Mar 6, 2014 |
| ISI Group | Hold | Hold | Maintain | Jan 13, 2014 |
| Credit Agricole | Buy | Underperform | Upgrade | May 17, 2013 |
| Sterne Agee | Buy | Buy | Maintain | Dec 28, 2012 |
| Stifel Nicolaus | Hold | Hold | Maintain | Sep 27, 2012 |
| Bank oferica | Buy | Buy | Maintain | Jun 4, 2012 |
| Oxen Group | Hold | Hold | Maintain | Feb 17, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $90.3. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Tigress Financial | Ivan Feinseth | $130 | $90.3 | +44.0% | Jul 28, 2026 |
| Jefferies | Analyst unavailable | $99 | $82.64 | +9.6% | Jul 27, 2026 |
| Deutsche Bank | Edison Yu | $100 | $82.46 | +10.7% | Jul 22, 2026 |
| RBC Capital | Tom Narayan | $100 | $79.52 | +10.7% | Jul 22, 2026 |
| Morgan Stanley | Analyst unavailable | $101 | $79.52 | +11.8% | Jul 22, 2026 |
| Goldman Sachs | Analyst unavailable | $103 | $79.52 | +14.1% | Jul 22, 2026 |
| Wells Fargo | Colin Langan | $61 | $79.52 | -32.4% | Jul 22, 2026 |
| RBC Capital | Analyst unavailable | $94 | $77.84 | +4.1% | Jul 13, 2026 |
| Evercore ISI | Analyst unavailable | $100 | $76.62 | +10.7% | May 4, 2026 |
| Piper Sandler | Alexander Potter | $102 | $76.22 | +13.0% | Apr 29, 2026 |
| RBC Capital | Tom Narayan | $95 | $78.95 | +5.2% | Apr 29, 2026 |
| Wells Fargo | Analyst unavailable | $59 | $78.95 | -34.7% | Apr 29, 2026 |
| Deutsche Bank | Edison Yu | $90 | $76.83 | -0.3% | Apr 14, 2026 |
| Goldman Sachs | Analyst unavailable | $91 | $76.83 | +0.8% | Apr 14, 2026 |
| UBS | Joseph Spak | $105 | $76.83 | +16.3% | Apr 14, 2026 |
| RBC Capital | Analyst unavailable | $107 | $85.51 | +18.5% | Jan 28, 2026 |
| Morgan Stanley | Analyst unavailable | $100 | $85.92 | +10.7% | Jan 28, 2026 |
| UBS | Analyst unavailable | $102 | $84.76 | +13.0% | Jan 28, 2026 |
| Mizuho Securities | Analyst unavailable | $105 | $86.38 | +16.3% | Jan 28, 2026 |
| Piper Sandler | Analyst unavailable | $105 | $86.38 | +16.3% | Jan 28, 2026 |
| Wells Fargo | Analyst unavailable | $57 | $86.38 | -36.9% | Jan 28, 2026 |
| Barclays | Analyst unavailable | $110 | $86.38 | +21.8% | Jan 28, 2026 |
| Goldman Sachs | Analyst unavailable | $104 | $86.38 | +15.2% | Jan 27, 2026 |
| Barclays | Dan Levy | $100 | $81.14 | +10.7% | Jan 23, 2026 |
| Goldman Sachs | Mark Delaney | $98 | $81.23 | +8.5% | Jan 15, 2026 |
| HSBC | Analyst unavailable | $75 | $83.09 | -16.9% | Jan 13, 2026 |
| Mizuho Securities | Vijay Rakesh | $100 | $85.13 | +10.7% | Jan 9, 2026 |
| Piper Sandler | Analyst unavailable | $98 | $81.91 | +8.5% | Jan 8, 2026 |
| Wedbush | Analyst unavailable | $95 | $80.51 | +5.2% | Dec 18, 2025 |
| Mizuho Securities | Analyst unavailable | $90 | $81.98 | -0.3% | Dec 16, 2025 |
| UBS | Joseph Spak | $97 | $80.89 | +7.4% | Dec 15, 2025 |
| Goldman Sachs | Mark Delaney | $93 | $75.71 | +3.0% | Dec 9, 2025 |
| Morgan Stanley | Analyst unavailable | $90 | $76.05 | -0.3% | Dec 8, 2025 |
| Evercore ISI | Analyst unavailable | $74 | $70.9 | -18.1% | Nov 24, 2025 |
| Tigress Financial | Ivan Feinseth | $92 | $68.58 | +1.9% | Oct 24, 2025 |
| Argus Research | Bill Selesky | $78 | $67.58 | -13.6% | Oct 23, 2025 |
| Mizuho Securities | Analyst unavailable | $76 | $66.62 | -15.8% | Oct 22, 2025 |
| UBS | Joseph Spak | $85 | $66.62 | -5.9% | Oct 22, 2025 |
| RBC Capital | Tom Narayan | $86 | $66.62 | -4.8% | Oct 22, 2025 |
| Barclays | Analyst unavailable | $85 | $66.62 | -5.9% | Oct 22, 2025 |
| Piper Sandler | Analyst unavailable | $66 | $67.05 | -26.9% | Oct 21, 2025 |
| Wedbush | Analyst unavailable | $75 | $67 | -16.9% | Oct 21, 2025 |
| Evercore ISI | Chris McNally | $68 | $55.68 | -24.7% | Oct 13, 2025 |
| RBC Capital | Analyst unavailable | $77 | $55.6 | -14.7% | Oct 10, 2025 |
| Barclays | Analyst unavailable | $77 | $55.92 | -14.7% | Oct 10, 2025 |
| Jefferies | Analyst unavailable | $55 | $60.13 | -39.1% | Oct 6, 2025 |
| Wells Fargo | Colin Langan | $40 | $59.69 | -55.7% | Oct 3, 2025 |
| Goldman Sachs | Analyst unavailable | $74 | $61.24 | -18.1% | Sep 29, 2025 |
| UBS | Joseph Spak | $81 | $59.69 | -10.3% | Sep 24, 2025 |
| Industrial Alliance Securities | Mark Delaney | $70 | $53.15 | -22.5% | Jul 11, 2025 |
| Mizuho Securities | Vijay Rakesh | $58 | $50.37 | -35.8% | May 16, 2025 |
| Bernstein | Daniel Roeska | $36 | $45.38 | -60.1% | May 5, 2025 |
| UBS | Joseph Spak | $50 | $45.3 | -44.6% | May 2, 2025 |
| Piper Sandler | Alexander Potter | $48 | $49.44 | -46.8% | Mar 20, 2025 |
| Goldman Sachs | Analyst unavailable | $73 | $49.13 | -19.2% | Mar 1, 2025 |
| Jefferies | Philippe Houchois | $52 | $51.54 | -42.4% | Oct 30, 2024 |
| Wedbush | Daniel Ives | $60 | $53.38 | -33.6% | Oct 23, 2024 |
| Barclays | Dan Levy | $70 | $53.73 | -22.5% | Oct 23, 2024 |
| Mizuho Securities | Vijay Rakesh | $54 | $48.63 | -40.2% | Oct 15, 2024 |
| Evercore ISI | Chris McNally | $55 | $47.87 | -39.1% | Oct 14, 2024 |
| Bernstein | Adrian Yanoshik | $53 | $48.88 | -41.3% | Sep 23, 2024 |
| Bank of America Securities | John Murphy | $85 | $48.14 | -5.9% | Sep 20, 2024 |
| RBC Capital | Joseph Spak | $54 | $42.73 | -40.2% | Aug 9, 2024 |
| Argus Research | William Selesky | $54 | $44.12 | -40.2% | Jul 25, 2024 |
| Morgan Stanley | Adam Jonas | $47 | $45.28 | -48.0% | Jul 24, 2024 |
| Wells Fargo | Colin Langan | $34 | $46.38 | -62.3% | Jul 24, 2024 |
| Citigroup | Itay Michaeli | $98 | $46.38 | +8.5% | Jul 23, 2024 |
| RBC Capital | Joseph Spak | $58 | $48.46 | -35.8% | Jun 11, 2024 |
| Argus Research | William Selesky | $52 | $45.05 | -42.4% | May 9, 2024 |
| Bernstein | Daniel Roeska | $55 | $45.08 | -39.1% | Apr 25, 2024 |
| Goldman Sachs | Mark Delaney | $52 | $45.08 | -42.4% | Apr 24, 2024 |
| Piper Sandler | Alexander Potter | $45 | $45.06 | -50.2% | Apr 24, 2024 |
| Morgan Stanley | Adam Jonas | $46 | $44.73 | -49.1% | Apr 10, 2024 |
| Piper Sandler | Alexander Potter | $44 | $39.38 | -51.3% | Mar 14, 2024 |
| Wedbush | Daniel Ives | $40 | $39.54 | -55.7% | Jan 31, 2024 |
| Barclays | Dan Levy | $37 | $28.2 | -59.0% | Nov 1, 2023 |
| Mizuho Securities | Vijay Rakesh | $38 | $29.01 | -57.9% | Oct 25, 2023 |
| Roth Capital | Craig Irwin | $85 | $29.66 | -5.9% | Oct 19, 2023 |
| Morgan Stanley | Adam Jonas | $38 | $37.16 | -57.9% | Jun 14, 2023 |
| Mizuho Securities | Vijay Rakesh | $39 | $34.5 | -56.8% | Apr 13, 2023 |
| Citigroup | Analyst unavailable | $82 | $39.3 | -9.2% | Feb 2, 2023 |
| Morgan Stanley | Analyst unavailable | $35 | $38.92 | -61.2% | Feb 1, 2023 |
| Guggenheim | Ronald Jewsikow | $89 | $36.62 | -1.4% | Jan 13, 2023 |
| Wedbush | Daniel Ives | $42 | $37.02 | -53.5% | Oct 25, 2022 |
| Barclays | Jiong Shao | $30 | $34.06 | -66.8% | Oct 21, 2022 |
| UBS | Patrick Hummel | $38 | $31.3 | -57.9% | Oct 10, 2022 |
| Citigroup | Analyst unavailable | $78 | $34.67 | -13.6% | Sep 28, 2022 |
| Wolfe Research | Analyst unavailable | $50 | $38.54 | -44.6% | Sep 6, 2022 |
| J.P. Morgan | Analyst unavailable | $61 | $33.46 | -32.4% | Jul 26, 2022 |
| Morgan Stanley | Adam Jonas | $42 | $34.67 | -53.5% | Jul 23, 2022 |
| Barclays | Brian Johnson | $52 | $31.53 | -42.4% | Jul 13, 2022 |
| Wells Fargo | Analyst unavailable | $29 | $31.91 | -67.9% | Jul 11, 2022 |
| Goldman Sachs | Mark Delaney | $46 | $37.61 | -49.1% | Jun 6, 2022 |
| Wells Fargo | Colin Langan | $33 | $35.56 | -63.5% | May 13, 2022 |
| Morgan Stanley | Adam Jonas | $50 | $38.87 | -44.6% | Apr 27, 2022 |
| Wedbush | Daniel Ives | $50 | $38.1 | -44.6% | Apr 27, 2022 |
| Wells Fargo | Analyst unavailable | $74 | $38.04 | -18.1% | Apr 27, 2022 |
| RBC Capital | Analyst unavailable | $58 | $38.04 | -35.8% | Apr 27, 2022 |
| J.P. Morgan | Ryan Brinkman | $71 | $38.12 | -21.4% | Apr 26, 2022 |
| Deutsche Bank | Emmanuel Rosner | $56 | $39.84 | -38.0% | Apr 22, 2022 |
| Citigroup | Itay Michaeli | $95 | $42.96 | +5.2% | Apr 2, 2022 |
| Wolfe Research | Rod Lache | $70 | $44.22 | -22.5% | Mar 28, 2022 |
| Benchmark Co. | Michael Ward | $75 | $40.83 | -16.9% | Mar 14, 2022 |
| Morgan Stanley | Adam Jonas | $55 | $48.4 | -39.1% | Feb 14, 2022 |
| Nomura | Anindya Das | $56 | $50.72 | -38.0% | Feb 9, 2022 |
| RBC Capital | Joseph Spak | $85 | $51.29 | -5.9% | Feb 6, 2022 |
| Wedbush | Daniel Ives | $85 | $53.5 | -5.9% | Feb 2, 2022 |
| Credit Suisse | Dan Levy | $75 | $53.5 | -16.9% | Feb 2, 2022 |
| Evercore ISI | Chris McNally | $65 | $53.5 | -28.0% | Feb 2, 2022 |
| Goldman Sachs | Mark Delaney | $72 | $53.5 | -20.3% | Feb 2, 2022 |
| Deutsche Bank | Emmanuel Rosner | $71 | $61.1 | -21.4% | Jan 17, 2022 |
| CFRA | Garrett Nelson | $65 | $65.74 | -28.0% | Jan 4, 2022 |
| Daiwa | Jairam Nathan | $65 | $58.4 | -28.0% | Dec 14, 2021 |
| Tigress Financial | Ivan Feinseth | $86 | $58 | -4.8% | Oct 15, 2021 |
| UBS | Patrick Hummel | $79 | $58.83 | -12.5% | Jun 29, 2021 |
| Argus Research | Bill Selesky | $66 | $55.89 | -26.9% | May 18, 2021 |
| Tudor Pickering | Matthew Portillo | $76 | $55.89 | -15.8% | May 18, 2021 |
Track every rating change on GM the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+4.9%
Event window
SPY move
+0.8%
Same window
Abnormal move
+4.1%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
+13.6%
Up to 20 sessions
GMSPY benchmark
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What changed
Compared to Q1 2026, GM maintained its confident tone and raised guidance for the second straight quarter. Key new developments include: confirmed December launch timing for next-gen Silverado and Sierra with new V8 engines, supported by three new propulsion plants and three assembly plants; a NASA partnership supplying battery propulsion technology for the $220M Lunar Outpost contract; a sodium-ion battery partnership with Peak Energy targeting 2027-2028 pilot production; and GM Defense scaling toward approximately $700M in 2026 revenue with a backlog that could exceed $1B from U.S. Army ISV orders. Capex outlook shifted from stable to increasing, reflecting onshoring investments to over 2 million U.S. production units.
Guidance delta
Full-year 2026 guidance was raised across all three metrics: EBIT to $14-16B, EPS to $12-14, and adjusted free cash flow to $9.5-11.5B. This is the second consecutive quarter of raised guidance, following the Q1 2026 increase that was supported by a Supreme Court tariff decision providing a 1.5-point EBIT margin benefit. Management tone remained confident. Capex outlook shifted from stable to increasing due to onshoring investments, which analysts flagged as a potential free cash flow headwind in 2027.
Key takeaways
- Q2 EPS of $3.57 beat consensus of $3.19 by 11.9%; revenue of $48.0B exceeded estimates by 2.2%.
- Full-year 2026 guidance raised: EBIT $14-16B, EPS $12-14, adjusted free cash flow $9.5-11.5B — second consecutive quarterly raise.
- U.S. full-size pickup market share exceeds 42%; next-gen Silverado and Sierra launch in December with three new engine plants.
- Super Cruise expected to add 1M new users in 2026, with 160K incremental units from new truck trims.
- EV restructuring charges of $2.3B in Q2; $7.2B total cash impact remains, but management said most material cash charges are now complete.
- Non-auto businesses scaling: GM Defense targeting ~$700M 2026 revenue with backlog potentially exceeding $1B; GM Insurance covering >80% of U.S. sales.
Management priorities
- Launch next-gen Silverado and Sierra with new V8 engines in December, ramping three propulsion and three assembly plants.
- Expand Super Cruise subscriptions and software-enabled services revenue across the vehicle lineup.
- Scale GM Insurance to >80% of U.S. sales and expand to additional states.
- Commercialize sodium-ion battery cells with Peak Energy, targeting pilot production by 2027-2028.
- Onshore U.S. production to >2M units with new V8 engine capacity.
- Launch next-gen Cadillac ICE models (CT5, XT5, XT6) in 2027-2028.
Sources
- Earnings call transcript and parsed analysis · 2026-07-21T16:03:32.091003+00:00
- FN2 earnings calendar · 2026-07-29T01:23:15.868211+00:00
- Polygon adjusted daily market bars · 2026-07-29T09:41:47.718811+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T09:41:47.715816+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.