GM.PRB Filings — General Motors Company - FilingSpy
GM.PRB
General Motors Company
A giant automaker that designs, builds, and sells gas and electric vehicles worldwide under the Chevrolet, Cadillac, Buick, and GMC brands, and finances them through GM Financial. Billy Durant founded it in 1908 as a holding company that snapped up other carmakers under one "general" umbrella — hence the name. Fun fact: Durant, who started in the horse-drawn carriage business, was so persuasive he was said to be able to "sell sand to the Arabs."
GM Q2 2026 EBIT-adjusted rose 30% to $3.9B despite $2.3B in new EV realignment charges
GM took another $2.3B in EV realignment charges this quarter. rose 1.9% to $48.0B and was $1.91 versus $2.82 a year earlier, as rose 30% to $3.9B on pricing and lower warranty costs that offset the one-off charge. The company raised full-year , but EV restructuring is still not finished.
Key takeaways
GM recorded $2.3B in net charges for EV strategic realignment in Q2, primarily from supplier negotiations and contract losses, with $4.1B in related cash outflows year-to-date, a one-off cost outside underlying operations.
Consolidated rose 30% to $3.9B, driven by favorable pricing and software-enabled services in and lower warranty costs that outweighed the EV charge.
increased 42.7% to $3.4B with margin expanding to 8.6%, helped by lean dealer inventories, lower warranty costs, and reduced EV adjustments.
Section summaries
Management's Discussion and Analysis
GM Q2 2026 EBIT-adjusted rose 30% to $3.9B on strong pricing and lower warranty costs, offset by $2.3B in new EV realignment charges.
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Consolidated grew 1.9% to $48.0B in Q2, driven by favorable pricing and software-enabled services in , partially offset by unfavorable mix.
grew 1.9% to $48.0B, up from $47.1B a year earlier and down from $43.6B in Q1 2026, with favorable pricing partly offset by unfavorable mix.
fell 6.6% to $190M as higher Brazil volumes were offset by unfavorable mix and increased material and logistics costs.
GM Financial declined 14.0% to $605M due to higher operating and leased vehicle expenses partly offset by lower interest costs.
Full-year 2026 was raised to of $14.0B-$16.0B and -diluted-adjusted of $12.00-$14.00, with an estimated $2.5B-$3.5B tariff impact.
What changed
Q2 2026 margin recovered to 8.6% from the 6.2% Q1 figure flagged to watch, as cost cuts held against a 4.1% Q1 volume drop and the Q2 mix shift.
Actual 2026 tariff impact remains within the $2.5B-$3.5B estimate set in Q1, unchanged in this filing's full-year .
China JV was not broken out for Q2 after the $165M Q1 figure including restructuring gains; fell to $190M, suggesting no repeat of that quarter's gain.
Automotive available liquidity was not stated for Q2; it was $33.2B at Q1 2026 after a $2.5B drop from repurchases, dividends, and .
Full-year rose to $14.0B-$16.0B from the $13.5B-$15.5B Q1 range, against the FY2025 realignment that pulled to $2.7B.
What to watch
Q3 2026 margin after the Q2 recovery to 8.6% to see if cost cuts hold against volume and mix
Additional EV realignment charges in 2026 after the $2.3B Q2 charge, which management said would be smaller than 2025's $7.9B
China JV next quarter after the $165M Q1 figure with restructuring gains was not repeated in Q2
Actual 2026 tariff impact versus the $2.5B-$3.5B estimate as the year progresses
increased 42.7% to $3.4B, with margin expanding to 8.6%, helped by lean dealer inventories, lower warranty costs, and reduced EV adjustments.
fell 6.6% to $190M as higher volumes in Brazil were offset by unfavorable mix and increased material and logistics costs.
EBT-adjusted declined 14.0% to $605M due to higher operating and leased vehicle expenses, partly offset by lower interest costs.
The company recorded $2.3B in net charges for EV strategic realignment in Q2, primarily from supplier negotiations and contract losses, with $4.1B in related cash outflows year-to-date.
Full-year 2026 includes of $14.0B-$16.0B and of $12.00-$14.00, with an estimated $2.5B-$3.5B tariff impact.
Quantitative and Qualitative Disclosures About Market Risk
There have been no significant changes in our exposure to market risk since December 31, 2025. For further discussion on market risk, refer to Part II, Item 7A. of our 2025 Form 10-K. * * * * * * *
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There have been no significant changes in our exposure to market risk since December 31, 2025. For further discussion on market risk, refer to Part II, Item 7A. of our 2025 Form 10-K.
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SEC regulations require us to disclose certain information about environmental proceedings if a governmental authority is a party to such proceedings and such proceedings involve potential monetary sanctions that we reasonably believe will exceed a stated threshold. Pursuant to…
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SEC regulations require us to disclose certain information about environmental proceedings if a governmental authority is a party to such proceedings and such proceedings involve potential monetary sanctions that we reasonably believe will exceed a stated threshold. Pursuant to the SEC regulations, the Company will use a threshold of $1 million for purposes of determining whether disclosure of any such proceedings is required.
The discussion under Note 13 to our condensed consolidated financial statements is incorporated by reference into this Part II, Item 1.
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We face a number of significant risks and uncertainties in connection with our operations. Our business and the results of our operations and financial condition could be materially adversely affected by these risk factors. There have been no material changes to the Risk Factors…
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We face a number of significant risks and uncertainties in connection with our operations. Our business and the results of our operations and financial condition could be materially adversely affected by these risk factors. There have been no material changes to the Risk Factors disclosed in our 2025 Form 10-K, other than as set forth in Part II, Item 1A. Risk Factors of our Quarterly Report on Form 10-Q for the three months ended March 31, 2026.
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GENERAL MOTORS COMPANY AND SUBSIDIARIES