General Motors approves $20 billion buyback, narrows full-year earnings guidance

The new authorization carries no expiration date and follows a $6 billion program the company completed after launching it in January 2026.

General Motors' board has approved a new $20 billion share repurchase program. The authorization has no set expiration and the company says it can suspend or end it at any time. It follows a $6 billion buyback program GM announced in January 2026, which built on earlier repurchases: $10 billion in 2023 and $6 billion programs in both 2024 and February 2025, according to GM Authority.

The buyback comes alongside third-quarter results. GM reported revenue of $50.0 billion, net income attributable to stockholders of $3.3 billion, and adjusted EBIT of $4.1 billion. Analysts compiled by LSEG had expected adjusted earnings per share of $3.63 and revenue of $48.70 billion, according to CNBC.

GM narrowed its full-year adjusted earnings per share guidance to $12.75 to $13.75, down from a prior range of $12 to $14. The company also guided to net income attributable to stockholders of $8.9 billion to $9.5 billion and automotive operating cash flow of $17.3 billion to $20.3 billion. When GM raised its 2026 forecast alongside second-quarter results, it had guided to adjusted EBIT of $14 billion to $16 billion and adjusted EPS of $12 to $14, according to CNBC.

The buyback authorization lands even as GM tightens its guidance by narrowing the top of its earnings range, a sign management is willing to return cash despite US market pressures tied to Chinese competition. That contrasts with the cautious tone around near-term headwinds, suggesting compliance cost relief already banked for 2031 gives GM enough confidence in forward earnings to buy back stock now rather than hold cash against tariff-related or competitive risks. That the range narrowed rather than fell indicates GM sees less uncertainty in its outlook than it did a few weeks ago, even with the top of the band lower.