General Motors Shares Fall More Than 6% Premarket Despite Earnings Beat

General Motors shares fell more than 6% in premarket trading Tuesday, Oct. 20, even as the automaker beat third-quarter earnings expectations and approved a $20 billion share repurchase authorization.

GM reported revenue of $50.02 billion, up 2.9% from a year earlier. Adjusted earnings were $3.70 per share, compared with $2.80 per share in the third quarter of 2025.

Adjusted operating profit reached $4.1 billion. Adjusted automotive free cash flow rose 40% from a year earlier to $5.9 billion, giving GM more cash as it plans further share repurchases.

GM's updated 2026 outlook puts adjusted operating profit at $14.5 billion to $15.5 billion, compared with its earlier range of $14 billion to $16 billion. The midpoint of both ranges is $15 billion.

GM expects to use the new $20 billion share repurchase authorization over several years. It follows a $6 billion repurchase program announced earlier this year.