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# GM Authorizes New $20 Billion Buyback After Finishing $6.0 Billion Program, Narrows 2026 Profit Range
- URL: https://www.bullished.co/gm-authorizes-new-20-billion-buyback-after-finishing-6-0-billion-program-narrows-2026-704ab40a/
- Published: 2026-10-20T11:51:57.000Z
- Updated: 2026-10-20T11:51:57.000Z
- Description: Third-quarter net income rose to $3.3 billion from $1.3 billion, while GM International's adjusted profit fell to $28 million.
- Author: Matteo Parrino
- Tags: Earnings, GM, Industry: Consumer Discretionary

General Motors' board approved a new [$20.0 billion](https://www.sec.gov/Archives/edgar/data/0001467858/000146785826000056/gmq32026pressreleaseandfin.htm?ref=bullished.co) multi-year share buyback with no expiration date, the company said in its third-quarter earnings release, attached to an 8-K filed Tuesday. GM also reported net income attributable to stockholders of $3.3 billion on revenue of $50.0 billion.

## The quarter in numbers

Revenue was $50,015 million, up from $48,591 million a year earlier. Net income attributable to stockholders was $3,335 million versus $1,327 million in the third quarter of 2025.

Adjusted operating profit (EBIT-adjusted, which strips out interest, taxes and items GM considers outside its core operations) was $4,106 million, up from $3,376 million. The margin on that measure was 8.2%, versus 6.9%.

North America drove it. GMNA EBIT-adjusted was $3,592 million, up from $2,506 million, with the margin at 8.7% versus 6.2%.

Automotive operating cash flow was $8,049 million, up from $6,070 million, and adjusted automotive free cash flow was $5,882 million, up from $4,201 million.

## Weak spots abroad

GM International's adjusted profit fell to $28 million from $226 million. China equity income was $32 million, versus $80 million.

GM Financial's adjusted pre-tax earnings were $668 million, down from $804 million.

Charges for what GM calls its EV strategic realignment, excluded from adjusted results, were $238 million in the quarter and $3,594 million for the first nine months of 2026.

## Guidance and buybacks

GM narrowed its 2026 EBIT-adjusted forecast to $14.5 billion to $15.5 billion, from $14.0 billion to $16.0 billion. Adjusted automotive free cash flow guidance moved to $11.5 billion to $12.5 billion, from $9.5 billion to $11.5 billion. Adjusted diluted earnings per share is now expected at $12.75 to $13.75, versus $12.00 to $14.00.

GM expects net income attributable to stockholders of $8.9 billion to $9.5 billion and automotive operating cash flow of $17.3 billion to $20.3 billion. Those figures exclude future special items.

The new buyback follows the $6.0 billion program announced in January 2026, which GM said it has completed. The company can suspend or end the new program at any time. Shares outstanding were 849 million on September 30, 2026, versus 904 million at the end of 2025, 995 million at the end of 2024 and 1.2 billion at the end of 2023.

The board also declared a quarterly dividend of $0.18 per share, payable December 17, 2026, to holders of record at the close of trading on December 4, 2026.

Chair and CEO Mary Barra and CFO Paul Jacobson host an investor call at 8:30 a.m. ET Tuesday to discuss the results.

### Sources

- [8-K Filing — General Motors Co (GM)](https://www.sec.gov/Archives/edgar/data/0001467858/000146785826000056/gm-20261020.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit gmq32026pressreleaseandfin.htm — General Motors Co 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001467858/000146785826000056/gmq32026pressreleaseandfin.htm?ref=bullished.co) — SEC EDGAR