GM’s core profit rises 22% on strong U.S. truck sales
General Motors reported a 22% rise in first-quarter core profit, driven by strong U.S. truck sales and improved margins in North America, despite a 6% drop in net income due to charges related to slowing EV programs. The company raised its 2026 earnings forecast by $500 million, citing expected tariff refunds and cost savings. Revenue fell slightly, and EV sales continued to decline amid weaker demand and policy shifts. GM’s performance in China and other international markets showed improvement compared to the previous year.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountGeneral Motors Co. GM-N posted on Tuesday a 22% rise in first-quarter core profit and lifted its full-year earnings forecast, bolstered by a resilient U.S. car market and an expected tariff refund.GM shares were up about 4 per cent in premarket trading.The Detroit automaker reported earnings before interest and taxes of US$4.3-billion, or US$3.70 per share, which beat analysts’ estimate of US$2.62, according to LSEG data.GM raised its 2026 profit outlook by US$500-million, which is the same amount it expects to get back in refunds stemming from a U.S. Supreme Court ruling that struck down some of the Trump administration’s tariffs.
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