General Motors (GM) has reported mixed first-quarter financial results as it grapples with a difficult U.S. economy and the impacts of tariffs.
The Detroit automaker posted earnings per share (EPS) of $3.70 U.S., which was far ahead of the $2.62 U.S. expected among analysts.
However, revenue of $43.62 billion U.S. fell short of the $43.68 billion U.S. expected on Wall Street. Sales were down 1% from a year earlier.
Despite the mixed print, management at GM raised their 2026 guidance due to a $500 million U.S. benefit from the U.S. Supreme Court’s decision to terminate and refund certain tariffs.
That said, General Motors still expects gross tariff costs of $2.5 billion U.S. to $3.5 billion U.S. this year. That’s down from an earlier estimate of $3 billion U.S. to $4 billion U.S. in added costs.
The company says it now anticipates earnings per share this year of $11.50 U.S. to $13.50 U.S., up about $0.50 U.S. a share from its previous outlook.
General Motors also continues to be impacted by its pivot away from electric vehicles, saying it booked $1.1 billion U.S. in special charges related to its pullback from EVs in Q1 of this year.
Regionally, the automaker’s North American operations continue to lead the company, up 11.4% from a year ago to $3.66 billion U.S. during the year’s first quarter.
GM stock has increased 65% over the last 12 months to trade at $77.96 U.S. per share.
