economy
GM raises 2026 guidance amid $500 million tariff refund, topping Wall Street's earnings expectations
Aside from earnings and any change to GM's 2026 guidance, investors are monitoring impact from the Iran war, tariffs and EV write-downs.
TL;DR
- GM beat Wall Street's first-quarter earnings expectations, reporting $3.70 adjusted EPS vs. $2.62 expected.
- The company benefited from a roughly $500 million refund from certain levies previously paid under Trump's tariffs, ruled illegal by the Supreme Court.
- GM raised its 2026 adjusted earnings guidance to between $13.5 billion and $15.5 billion, reflecting the tariff rebate.
- Net income and automotive operating cash flow guidance for 2026 were lowered due to $1.1 billion in special charges related to EV pullback.
- Excluding the tariff benefit, GM's first-quarter adjusted earnings still exceeded expectations and were up about 7.5% year-over-year.