GM Raises 2026 Profit Outlook After Q1 Earnings Beat

General Motors raised its full-year 2026 profit outlook on Tuesday after reporting first-quarter earnings that exceeded Wall Street expectations, aided by an anticipated $500 million refund from tariffs the U.S. Supreme Court struck down in February.

The Detroit automaker now expects earnings before interest and taxes of $13.5 billion to $15.5 billion, up from its prior forecast of $13 billion to $15 billion. The upward revision stems partly from the expected refund related to levies imposed under the International Emergency Economic Powers Act, or IEEPA, which the court ruled exceeded presidential authority. GM has not yet received the funds but notified investors ahead of processing through a new online claims system launched last week by U.S. Customs and Border Protection. Approved claims take 60 to 90 days, with refunds issued in phases.

For the first quarter of 2026, GM posted adjusted earnings before interest and taxes of $4.25 billion, a 22 percent increase from the year-earlier period, surpassing analyst estimates of $2.62 per share. Revenue totaled $43.62 billion, down slightly from $44 billion a year ago, while net income came in at $2.63 billion, roughly flat despite...