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GM beats profit forecasts, unveils buyback
General Motors reported quarterly results that exceeded Wall Street expectations during the third quarter, with adjusted earnings per share of $3.70 and revenues of $50.02 billion. Additionally, the company announced a new share repurchase program valued at $20 billion over several years, after completing a previous program worth $6 billion. The company now expects to achieve adjusted earnings before interest and taxes ranging from $14.5 billion to $15.5 billion, and free cash flows between $11.5 billion and $12.5 billion in 2026, dismissing inflationary challenges, as the company’s stock dropped about 5% in pre-market trading.
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