General Motors surges 4% as FY2026 guidance tops consensus

General Motors issued fiscal 2026 adjusted earnings guidance of $12 to $14 a share, topping consensus, sending shares up more than 4% in pre-market trading.

"The guidance raise reflects strong pricing power in our truck and SUV portfolio, which continues to offset softer EV demand," GM Chief Financial Officer Paul Jacobson said in a statement.

The Detroit-based automaker's new outlook compares with the $10.50 to $11.50 range analysts had modeled for the full year, according to data compiled by Benzinga. GM previously raised its adjusted EPS and adjusted EBIT guidance after first-quarter earnings in April, when it took a $1.1 billion hit from an EV slowdown. The company reports second-quarter results Tuesday before the market open, with analysts projecting EPS of $3.15 on revenue of $46.81 billion.

The guidance raise signals that GM's strategy of prioritizing high-margin pickup trucks and SUVs over aggressive EV expansion is paying off. GM delivered 714,846 vehicles in the US during the second quarter, ranking first in the region, though total deliveries fell 4% year over year. The company's stock has gained 43% over the past 52 weeks, more than double the return of Tesla, which is up 16% over the same period. Investors will watch Tuesday's earnings call for updated segment-level margins and any further commentary on the company's EV production plans.

This article is for informational purposes only and does not constitute investment advice.