WASHINGTON (dpa-AFX) - Automajor General Motors on Tuesday trimmed fiscal 2026 outlook for reported earnings, but lifted forecast for adjusted earnings to reflect tariffs impact, after reporting weak results in its first quarter .
On the NYSE, General Motors shares are currently trading 0.10 percent lower, at $77.89.
Looking ahead for fiscal 2026, net income attributable to stockholders is now expected to be $9.9 billion to $11.4 billion, lower than previous guidance of $10.3 billion to $11.7 billion. Earnings per share is now projected in a range of $10.62 to $12.62, revised from prior guidance range of $11.00 to $13.00.
Further, the firm now expects adjusted earnings per share in a range of $11.50 to $13.50, higher than prior guidance range of $11.00 to $13.00.
EBIT -adjusted is now guided in a range of $13.5 billion to $15.5 billion, updated from prior guidance range of $13.0 billion to $15.0 billion.
The company attributed the revision in EBIT adjusted guidance to a favorable adjustment of around $0.5 billion resulting from the U.S. Supreme Court decision regarding certain U.S. tariffs that were paid under the International Emergency Economic Powers Act.
The company now expects gross tariff costs of $2.5 billion to $3.5 billion in 2026, down from the original estimate of $3.0 billion to $4.0 billion.
Further, GM announced that its Board has declared a quarterly cash dividend of $0.18 per share, payable June 18, to holders of the company's common stock at the close of trading on June 5.
In the first quarter, net income attributable to stockholders declined 5.7 percent to $2.63 billion from $2.78 billion last year. Net income attributable to common stockholders were $2.61 billion, down from $3.36 billion a year ago.
Earnings per share were $2.82, 15.9 percent lower than $3.35 a year ago.
Adjusted earnings were $3.430 billion or $3.70 per share, compared to $2.78 per share last year.
EBIT-adjusted increased 21.9 percent to $4.25 billion from $3.49 billion in the prior year. EBIT-adjusted margin improced to 9.7% from 7.9% a year earlier.
Total net sales and revenue, meanwhile, declined 0.9% to $43.62 billion from $44.02 billion a year ago.
Automotive net sales edged down to $39.35 billion from $39.86 billion last year. However, GM Financial revenues grew to $4.28 billion from prior year's $4.16 billion.
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