Imagine that! GM sees ‘first-half earnings per share 25% higher than the first half at any time in our history’ as it ‘wraps up a multibillion-dollar pullback in EVs’

https://www.cnbc.com/2026/07/21/general-motors-gm-earnings-q2-2026.html

By Michael Wayland

CNBC Excerpt: DETROIT — General Motors raised several key 2026 earnings forecasts Tuesday after beating Wall Street’s second-quarter expectations as the company’s North American operations continue to drive its results.

The Detroit automaker attributed its guidance change to consistent vehicle transaction prices, lower warranty costs and narrowing all-electric vehicle losses as it wraps up a multibillion-dollar pullback in EVs.

“These results are very consistent with what we’ve been doing for the last several years,” GM CFO Paul Jacobson said Tuesday on CNBC’s “Squawk Box.” “Our first-half earnings per share is 25% higher than the first half at any time in our history.”

Jacobson said GM’s “momentum is palpable,” while referring to the company’s stock as a “bargain” at roughly $75 a share, up more than 40% compared with a year ago. He described the company’s consumer demand as “resilient.”

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