Unadjusted earnings guidance lowered as special charges offset operating gains

General Motors on Tuesday raised its full-year profit outlook for the second time in 2026, pointing to strong North American demand for its high-margin pickup trucks and sport-utility vehicles. The Detroit automaker reported adjusted second-quarter earnings that topped Wall Street forecasts, but cut its unadjusted earnings guidance on one-time charges.

The automaker posted adjusted earnings of $3.57 per share for the three months ended June 30, exceeding the $3.19 average estimate of analysts surveyed by FactSet. Revenue rose 1.9% to $48.03 billion, also ahead of the $47.01 billion consensus.

Unadjusted net income fell to $1.31 billion, or $1.41 per share, from $1.9 billion, or $1.91 per share, in the same quarter a year earlier. GM lowered its full-year unadjusted earnings guidance to between $8.98 and $10.98 per share from a prior range of $10.62 to $12.62 per share, citing special items and nonoperating adjustments.

Chief Executive Mary Barra said customer demand in North America remains strong, driven primarily by the company’s lineup of pickups and sport-utility vehicles. She added that GM is continuing to lower warranty costs, cut electric-vehicle losses, and increase operating efficiencies as its EBIT margin expands.

The company lifted its full-year EBIT outlook to between $14 billion and $16 billion, up from a prior forecast of $13.5 billion to $15.5 billion. Adjusted earnings are now projected at $12 to $14 per share, compared with a previous estimate of $11.50 to $13.50 per share. GM still expects gross tariff costs between $2.5 billion and $3.5 billion for the year.

While overall vehicle sales volumes fell 4.2% to about 715,000 units in the quarter, pricing held firm with an average transaction price of roughly $52,000, reflecting the company’s strength in trucks, SUVs, and the luxury market. The automaker previously said it expects to produce electric vehicles at “substantially lower” volumes this year, focusing instead on more profitable gasoline-powered vehicles.

Shares of GM were up 2.2% to $77.45 in premarket trading Tuesday.