General Motors has approved a new $20 billion share repurchase programme with no expiration date along with the release of its third-quarter 2026 results. The automaker's board of directors authorised the multi-year buyback, which can be suspended or discontinued at any time at the company's discretion. GM also said it had completed the $6 billion share repurchase programme announced in January 2026.
However, GM shares fell as much as 6% in premarket trading after the earnings announcement. At 7:11 a.m. EDT, the stock was trading 4.53% lower at $79.
The new authorisation extends GM's efforts to return capital to shareholders through share repurchases. As of September 30, 2026, the company had 849 million shares outstanding, down from 904 million at the end of 2025. The share count has declined steadily in recent years, from 995 million at the end of 2024 and 1.2 billion at the end of 2023.
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Share buybacks reduce the number of outstanding shares and can increase earnings per share, provided net income remains unchanged. However, their impact on shareholder returns also depends on the price at which shares are repurchased and the company's financial performance.
The latest authorisation does not require GM to repurchase the entire amount immediately, and the company retains discretion over the timing and scale of purchases.
GM Q3 Results
General Motors reported revenue of $50 billion for the third quarter of 2026. Net income attributable to stockholders stood at $3.3 billion, while adjusted earnings before interest and taxes (EBIT-adjusted) came in at $4.1 billion. Diluted earnings per share (EPS) rose to $3.73 from $1.35 in the year-ago quarter. Adjusted diluted EPS increased to $3.70 from $2.80.
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GM North America's adjusted EBIT rose to $3.6 billion from $2.5 billion in the same period last year, providing the largest contribution to the company's adjusted operating earnings. However, GM International's adjusted EBIT declined to $28 million from $226 million. GM Financial's adjusted earnings before tax fell to $668 million from $804 million.
The contrasting performance across divisions highlights the importance of GM North America to the group's overall operating results.
GM narrowed its full-year 2026 adjusted EBIT guidance to $14.5 billion-$15.5 billion, compared with the earlier range of $14 billion-$16 billion. The company also raised its adjusted automotive free cash flow guidance to $11.5 billion-$12.5 billion from $9.5 billion-$11.5 billion previously. Its adjusted diluted EPS guidance was narrowed to $12.75-$13.75, against the previous range of $12-$14.
GM Declares Dividend
Alongside the buyback authorisation, GM's board declared a quarterly cash dividend of $0.18 per common share. The dividend will be payable on December 17, 2026, to shareholders of record at the close of trading on December 4, 2026.
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