GM shares fall as quarterly loss offsets adjusted profit beat

General Motors Company (NYSE: GM) shares closed at $79.38 on Monday, down 0.4% from the previous session, after the U.S. automaker reported a fourth-quarter net loss but stronger adjusted profit and outlined full-year 2025 results. Investors also digested details on special charges and capital return programs.

Market Capitalization

At the close of trade, GM’s market capitalization was about $75 billion, based on prevailing share price levels widely reported in financial data.

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Latest Quarterly Results

For the quarter ended December 31, 2025 (Q4 2025), GM reported total revenue of $45,287 million ($45.29 billion), down 5.1% from $47,702 million ($47.70 billion) in the year-earlier quarter.

Net income attributable to stockholders for the quarter was a loss of $3,310 million ($3.31 billion), compared with a loss of $2,961 million ($2.96 billion) in Q4 2024. EBIT-adjusted — a non-GAAP measure — was $2,843 million ($2.84 billion), compared with $2,509 million a year earlier.

Earnings per share (diluted) was –$3.60, versus –$1.64 a year ago. Adjusted diluted EPS was $2.51, up from $1.92 in Q4 2024.

Segment highlights (as reported)

• GM North America (GMNA) EBIT-adjusted: $2,244 million, down slightly from $2,274 million.
• GM International (GMI) EBIT-adjusted: $278 million, up from $221 million.
• China equity income (loss): loss of $513 million, compared with a $4,060 million loss a year earlier.
• GM Financial EBT-adjusted: $609 million, down from $719 million.

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Full-Year Results Context

For the full year ended December 31, 2025, GM reported net income attributable to stockholders of $2,697 million ($2.7 billion), down 55.1% from $6,008 million in 2024. EBIT-adjusted for the year was $12,747 million ($12.7 billion), also below the prior year’s $14,934 million. Automotive operating cash flow was $18,733 million ($18.7 billion) and adjusted automotive free cash flow was $10,595 million ($10.6 billion).

Revenue for fiscal 2025 was $185,019 million ($185.0 billion), a slight decline from $187,442 million ($187.4 billion) in 2024.

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Business & Operations Update

GM attributed its widened quarterly loss to over $7.2 billion in special charges tied to realignment of electric vehicle (EV) capacity and related policy-driven factors. The company also announced a 20% increase in its quarterly dividend to $0.18 per share and approved a new $6.0 billion share repurchase program.

Adjusted automotive operating cash flow and free cash flow improved year-over-year, while international operations showed narrower losses and GM Financial continued to contribute to earnings.

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M&A or Strategic Moves

Strategic developments focused on EV capacity realignment, cost optimization and capital allocation initiatives, including dividend increases and stock buybacks.

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Equity Analyst Commentary

Analyst coverage highlighted the adjusted EPS beat, with Q4 EPS of $2.51 surpassing estimates and up from the prior year, while noting revenue was slightly below consensus forecasts. Commentary also referenced the impact of EV-related charges and the company’s repositioning strategy.

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Guidance & Outlook

GM provided 2026 guidance calling for net income attributable to stockholders of $10.3 billion to $11.7 billion and EBIT-adjusted of $13.0 billion to $15.0 billion. Automotive operating cash flow is expected between $19.0 billion and $23.0 billion, and adjusted free cash flow between $9.0 billion and $11.0 billion.

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Performance Summary

GM shares closed lower.
Q4 revenue declined year-on-year.
Net loss widened, while adjusted EBIT and adjusted EPS rose.
Capital returns were expanded with dividend and buyback programs.