Core Points - The three major U.S. stock indices closed mixed, with the Dow Jones Industrial Average rising by 0.47%, the S&P 500 remaining flat, and the Nasdaq declining by 0.16% [1] - The Dow reached a new all-time high [1] Company Performance - Large tech stocks showed mixed performance, with Amazon rising over 2%, while Meta, Apple, Microsoft, and Intel saw slight gains [1] - Nvidia and Oracle experienced minor declines, while Broadcom, Tesla, and AMD fell by over 1%, and Google dropped by more than 2% [1] - General Motors surged approximately 15%, marking its best single-day performance in the last five years [1]

Financial Performance - For the year ending December 31, 2025, the company expects net income attributable to stockholders to be between $7.7 billion and $8.3 billion, with EBIT-adjusted between $12.0 billion and $13.0 billion[147]. - Total net sales and revenue for GM in the three months ended September 30, 2025, were $48.591 billion, a slight decrease of 0.3% from $48.757 billion in the same period of 2024[166]. - GM's total automotive revenue for the nine months ended September 30, 2025, was $126.985 billion, a decrease of 0.8% from $128.007 billion in the same period of 2024[168]. - Total net sales and revenue for GM International increased to $3.645 billion in Q3 2025, a 3.6% increase from $3.517 billion in Q3 2024[187]. - Total net sales and revenue for Automotive China JVs increased to $6.121 billion in Q3 2025, compared to $4.480 billion in Q3 2024[195]. - Total net sales and revenue for GM Financial increased by $305 million to $4.337 billion in Q3 2025, a 7.6% increase from $4.031 billion in Q3 2024[196]. - In the nine months ended September 30, 2025, total revenue for GM Financial increased by $995 million to $12.756 billion, an 8.5% increase from $11.761 billion in the same period of 2024[196]. Vehicle Sales and Market Share - In the nine months ended September 30, 2025, U.S. industry sales increased by 4.1% to 12.5 million units compared to the same period in 2024[150]. - The company's total vehicle sales in the U.S. were 2.2 million units for a market share of 17.2%, reflecting an increase of 1.0 percentage points year-over-year[151]. - In the nine months ended September 30, 2025, industry sales in China rose by 6.5% to 19.3 million units, with the company's total vehicle sales at 1.4 million units and a market share of 7.0%[155]. - Total vehicle sales outside of China were 0.7 million units, representing a decrease of 0.3 percentage points in market share compared to the same period in 2024[156]. - Total vehicle sales in North America for the three months ended September 30, 2025, were 837,000 units, up from 790,000 units in the same period of 2024, resulting in a market share increase from 15.8% to 16.1%[160]. - In China, GM sold 469,000 vehicles in the three months ended September 30, 2025, compared to 426,000 in the same period of 2024, with market share rising from 6.5% to 6.8%[160]. - The total vehicle sales in GM markets for the nine months ended September 30, 2025, were 4,549,000 units, up from 4,253,000 units in the same period of 2024, maintaining a market share of 8.3%[160]. Costs and Expenses - Total automotive and other cost of sales for the three months ended September 30, 2025, increased by $2.929 billion, or 7.5%, to $41.936 billion compared to the same period in 2024[169]. - Total automotive and other cost of sales for the nine months ended September 30, 2025, increased by $4.799 billion, or 4.3%, to $116.416 billion compared to the same period in 2024[172]. - Increased material and freight costs for the nine months ended September 30, 2025, amounted to $2.7 billion, including $2.4 billion due to tariffs[172]. - For the three months ended September 30, 2025, EBIT-adjusted decreased primarily due to increased material and freight costs of $0.9 billion, including $1.1 billion due to tariffs[185]. - In the nine months ended September 30, 2025, EBIT-adjusted decreased primarily due to increased material and freight costs of $2.5 billion, including $2.4 billion due to tariffs[186]. Earnings and Returns - Diluted earnings per common share for the three months ended September 30, 2025, was $1.35, compared to $2.68 for the same period in 2024, reflecting a decrease[256]. - Adjusted diluted earnings per share (EPS-diluted-adjusted) for the nine months ended September 30, 2025, was $8.09, down from $8.63 in 2024[256]. - Return on equity (ROE) for the four quarters ended September 30, 2025, was 4.7%, significantly lower than 15.9% for the same period in 2024[259]. - Return on invested capital (ROIC-adjusted) for the four quarters ended September 30, 2025, was 18.5%, down from 19.4% in 2024[262]. - Net income attributable to stockholders for the four quarters ended September 30, 2025, was $3.0 billion, compared to $11.1 billion in 2024[259]. - EBIT-adjusted for the four quarters ended September 30, 2025, was $12.4 billion, compared to $14.2 billion in 2024[262]. Liquidity and Capital Management - GM maintains sufficient liquidity through cash, cash equivalents, and available borrowing capacity to meet short- and long-term requirements[201]. - Total automotive available liquidity as of September 30, 2025, was $35.7 billion, slightly up from $35.5 billion at December 31, 2024[219]. - GM Financial's available liquidity increased to $36.2 billion as of September 30, 2025, up from $29.3 billion at December 31, 2024, primarily due to increased borrowing capacity and $2.0 billion in proceeds from the sale of finance receivables[233]. - The company targets liquidity levels to support at least six months of expected net cash outflows, and as of September 30, 2025, available liquidity exceeded these targets[233]. - The company has $2.8 billion in capacity remaining under its share repurchase program as of September 30, 2025[206]. - The company plans to invest approximately $10.0 billion to $11.0 billion in battery cell manufacturing joint ventures by 2025[202]. Tax and Regulatory Environment - Income tax expense for the three months ended September 30, 2025, decreased by $583 million, or 82.1%, to $127 million compared to the same period in 2024[178]. - Effective tax rate for the three months ended September 30, 2025, was 8.9%, with an expected adjusted effective tax rate between 20% and 21% for the year ending December 31, 2025[179]. - The effective tax rate for the three months ended September 30, 2025, was 8.9%, compared to 19.1% for the same period in 2024[258]. - The company anticipates a slowdown in EV adoption due to recent U.S. Government policy changes, which may lead to additional contract cancellation fees[203]. Strategic Initiatives - The company recorded charges of $1.6 billion in GMNA due to a strategic realignment of EV capacity and manufacturing footprint to align with expected consumer demand[142]. - The company aims to return GMNA to its historical EBIT-adjusted margins of 8.0-10.0% as quickly as possible[154]. - The company is focused on improving EV profitability while maintaining cost discipline amid evolving tariff and policy landscapes[154]. - The average target return on invested capital (ROIC-adjusted) is set at 20% or greater as part of the capital allocation program[202]. Shareholder Returns - In the nine months ended September 30, 2025, the company repurchased approximately 27 million shares for $1.5 billion under its existing share repurchase program[206]. - The quarterly common stock dividend was increased by $0.03 to $0.15 per share starting April 2025, with $0.4 billion paid in dividends in the nine months ended September 30, 2025[207]. Credit and Risk Management - All four credit rating agencies currently rate the company's corporate credit at investment grade, with no changes since December 31, 2024[231]. - The company continues to monitor and evaluate opportunities to optimize its liquidity position and the mix of its debt between secured and unsecured debt[232]. - The provision for loan losses increased to $0.9 billion for the nine months ended September 30, 2025, compared to $0.7 billion in the prior year[237]. - There have been no changes in internal control over financial reporting that materially affected the company during the three months ended September 30, 2025[271]. - The company has not reported any significant changes in market risk exposure since December 31, 2024[268].

Core Viewpoint - General Motors has raised its financial outlook for the year while slightly reducing the anticipated impact from tariffs, as the company expects relief on tariffs in the U.S. amidst a declining market for electric vehicles [1] Financial Outlook - The company has lifted its financial outlook for the year, indicating a positive adjustment in its revenue expectations [1] - The expected hit from tariffs has been slightly lowered, suggesting improved cost management or favorable negotiations [1] Market Conditions - The automaker is facing a weakening market for electric vehicles, which may impact future sales and growth strategies [1] - The anticipated relief on tariffs could provide a more favorable operating environment for the company moving forward [1]

Guys, I want to start with General Motors because it is a big move for GM. Last I checked, they were up something like 11%. >> Ally, let's start with you.>> Stock is up stock is up well over 10% at this point in pre-market trading, Julie. And this comes despite a mixed earnings picture, but a big boost to fullear guidance along with more optimistic rhetoric around the tariff picture. So, uh earnings uh came in ahead of estimates whereas revenue slightly missed.But if we take a look at the fullear guidance, ...

Core Viewpoint - General Motors (GM) has experienced a significant stock increase of over 10% in pre-market trading, driven by a mixed earnings report but an optimistic full-year guidance and improved tariff outlook [1][9]. Financial Performance - GM's full-year earnings guidance has been raised to between $9.75 and $10.50 per share, up from the previous range, with adjusted EBIT expected to exceed $13 billion [2][4]. - The company reported adjusted EPS of $2.80, while revenue was $44.3 billion, slightly below estimates, and adjusted EBIT was stronger than expected at $3.4 billion [4][9]. - Despite a mixed earnings picture, the positive outlook and earnings boost have contributed to the stock's double-digit gains [5][9]. Tariff Impact - GM anticipates a tariff-related hit of $3.5 to $4.5 billion this year, which is an improvement from earlier estimates [3][9]. - The company expects to offset about 35% of tariff costs due to new mitigation policies from the Trump administration [3][4]. - GM has revised its guidance downward on tariff impacts by approximately $500 million, indicating stabilization in tariff effects [12][42]. Vehicle Sales and Market Share - U.S. sales rose by 8% to over 710,000 vehicles, marking GM's best market share since 2017, with strong demand for gas-powered pickup trucks and SUVs [5][40]. - Electric vehicle (EV) sales reached a record of 66,000 units, although GM warns of a substantial slowdown in EV demand following the expiration of federal tax credits [6][9]. EV Strategy and Future Outlook - GM has taken a $1.6 billion charge related to its EV reassessment, indicating a more subdued view on near-term EV adoption [6][9]. - The company plans to use the current slowdown in EV demand as an opportunity to improve battery technology and production efficiency [7][32]. - GM remains optimistic about the long-term viability of the EV market, despite current challenges [30][50]. Management and Operational Adjustments - GM's management has demonstrated increased agility in responding to market changes, reducing inventory levels and adjusting production strategies more rapidly than in the past [10][38]. - The company is focusing on reshoring jobs and increasing domestic production to mitigate tariff impacts and enhance competitiveness [14][23]. - GM's financial team has maintained strong credit quality in its loan portfolio, despite industry concerns about auto loan delinquencies [33][36].

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Core Insights - General Motors (GM) shares surged over 15% following better-than-expected fiscal Q3 results and an upward revision of full-year guidance [1] - The company is strategically focusing on its profitable truck and SUV segments while optimizing electric vehicle (EV) investments [1] Financial Performance - GM's stock has increased more than 60% from its year-to-date low, indicating strong recovery [2] - The company achieved its highest third-quarter U.S. market share at 17% since 2017, demonstrating robust core business performance [5] Tariff Impact - Management anticipates a reduced impact from tariffs in 2025, estimating potential costs to be as low as $3.5 billion, down from a previous estimate of up to $5.0 billion [3] - GM plans to offset approximately 36% of these costs through various mitigation strategies, including a U.S. government tariff relief initiative [4] Investment Appeal - GM maintains impressive pricing discipline, with incentives at just 4.0% of average transaction prices compared to the industry average of 6.9% [5] - The stock is trading at a forward price-earnings (P/E) multiple of around 6x, presenting a compelling long-term investment opportunity [6] - Wall Street shows a bullish sentiment towards GM, with a consensus rating of "Moderate Buy" and price targets suggesting a potential upside of 40% [7][8]

Core Insights - GM is ceasing production of the Chevy Brightdrop electric van due to declining demand in the EV market, with many vans accumulating in dealer lots [1] - The commercial electric van market is developing slower than anticipated, influenced by changes in regulatory frameworks and fleet incentives, particularly the elimination of the federal EV tax credit [2] - The pricing of Brightdrop vans is a significant barrier, with a starting price of $74,000, which was reduced to $59,000 with discounts that are no longer available, making it less competitive compared to rivals like Ford's E-Transit van starting at $51,600 [3] Company Strategy - GM launched Brightdrop vans in 2021 as part of a strategy to penetrate the commercial EV market, developing fleet management software and securing partnerships with major companies like Walmart and FedEx [4] - The company faces challenges in attracting commercial customers who may not have the financial flexibility to absorb the loss of tax credits and rebates [4]

Core Insights - General Motors Co. (GM) shares increased over 14% in intra-day trading following strong third-quarter earnings that exceeded expectations and an upward revision of full-year profit guidance despite challenges in the electric vehicle (EV) sector [1][2] Financial Performance - GM reported adjusted earnings of $2.80 per share, surpassing analyst estimates of $2.32 [1] - Revenue for the quarter was $48.59 billion, exceeding forecasts of $45.33 billion but slightly lower than the $48.76 billion reported in the same quarter last year [1] - The company raised its full-year adjusted EPS guidance to between $9.75 and $10.50, up from a previous range of $8.25 to $10.00, and above the consensus estimate of $9.45 [2] - Adjusted automotive free cash flow forecast was increased to $10.0–$11.0 billion, compared to the prior range of $7.5–$10.0 billion [2] Operational Challenges - Quarterly EBIT-adjusted fell 18% year-over-year to $3.38 billion, with margins declining to 6.9% from 8.4% [2] - North American EBIT-adjusted decreased by 37.1% to $2.51 billion [2] Strategic Initiatives - The quarter included $1.59 billion in charges related to the company's EV strategy realignment and $300 million in costs associated with ongoing investigations into the OnStar Smart Driver program [3] - GM remains committed to long-term EV profitability goals while focusing on efficiency improvements and cash flow generation [3]

So, will earnings continue to keep the rally going. Let's ask Tim Seymour, CIO of Seymour Asset Management and a CNBC contributor. Tim.>> Hey, John. >> We need good earnings to keep uh the market going at these valuations. Is this enough. Is this encouraging.>> Well, what we're hearing from industrial companies and take GE, take GM, take 3M. I mean, the companies are controlling what they can control. And what's I I think notable about this earning season is that the the margin profile, the definitely the e ...