General Motors reported adjusted fourth-quarter earnings per share of $2.51, surpassing the consensus estimate of $2.20 and marking a 30% year-over-year increase from $1.92. Adjusted EBIT for the quarter reached $2.84 billion, up 13.3%, driven by strong SUV and pickup truck margins in GM North America. However, total revenue fell 5.1% to $45.3 billion, and the company recorded a net loss of $3.31 billion attributable to stockholders after taking $7.2 billion in special charges related to the realignment of EV capacity and policy changes affecting consumer incentives.

CEO Mary Barra cautioned that the removal of consumer tax incentives and relaxed emissions regulations are expected to slow EV adoption, derailing GM’s previous target of 40–50% electric vehicle penetration by 2030. The company’s $7.2 billion EV-related charge reflects this strategic pivot; GM intends to realign battery cell manufacturing and adjust plant capacities to match the revised demand outlook while maintaining commitments to hybrid development and next-generation EV platforms.

GM’s board approved a 20% increase in the quarterly dividend to $0.18 per share, payable March 19, representing the fourth straight annual raise. In addition, GM authorized a new $6 billion share repurchase program with no expiration date. As of December 31, 2025, share count declined to 904 million from 995 million a year earlier, reflecting prior buybacks that the company plans to continue to leverage free cash flow for capital returns.

For fiscal 2026, GM projects adjusted EBIT of $13.0–$15.0 billion, diluted adjusted EPS of $11.00–$13.00 and adjusted automotive free cash flow of $9.0–$11.0 billion. The company expects automotive operating cash flow of $19.0–$23.0 billion on capital expenditures of $10.0–$12.0 billion, inclusive of battery joint ventures. GM reiterates its goal of sustained strong financial performance, underpinned by disciplined cost management, continued growth in profitable ICE-powered trucks and SUVs, and prudent EV investments.