GM narrows 2026 forecast, authorizes $20 billion buyback

General Motors reported higher third-quarter profit and raised its automotive free-cash-flow outlook, but narrowed its 2026 earnings forecast to a midpoint below analyst expectations. Its board also authorized a new, multiyear $20 billion share-repurchase program. GM shares fell in premarket trading after the guidance update. Adjusted earnings before interest and taxes reached $4.106 billion in the three months ended September 30, up 21.6% from $3.376 billion a year earlier. Adjusted earnings were $3.70 per share, exceeding the $3.63 analyst estimate cited in the reports. Revenue increased 2.9% to $50.015 billion. GM now expects 2026 adjusted EBIT of $14.5 billion to $15.5 billion, compared with its previous range of $14 billion to $16 billion. Its adjusted earnings-per-share forecast is $12.75 to $13.75, down from $12 to $14. The new EPS midpoint is below the cited analyst estimate of $13.41. The company raised its adjusted automotive free-cash-flow outlook to $11.5 billion to $12.5 billion, from $9.5 billion to $11.5 billion. GM said commodity-related inflation costs were expected to total about $2 billion, at the high end of its prior guidance. It also projected gross...