GM reported third-quarter 2026 EPS up 32.2% to $3.70, beating the $3.55 consensus, and revenue of $50.02 billion, up 3%, yet its shares fell 6.84%. The company raised its adjusted automotive free cash flow forecast to $11.5-$12.5 billion and authorized a $20-billion multi-year buyback. Headwinds include a $2 billion cost pressure in 2026 from commodities, logistics and DRAM, tariffs, about 35,000 fewer units in Q4 from pickup launches, and $11.2 billion in EV-related charges since the second half of 2025. Recurring revenue from OnStar, with $6.8 billion in deferred revenue, supports the long-term story. The article concludes that cost and execution risks outweigh the strong quarter, so the buyback and growth drivers justify patience rather than rushing in.
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