Overview
- GM, which reported results Tuesday, posted adjusted EPS of $3.70 on revenue of $43.62 billion and lifted full‑year adjusted EBIT guidance to $13.5 billion to $15.5 billion.
- The company booked an anticipated $500 million refund tied to the Supreme Court’s IEEPA decision, has not yet received cash, and now projects 2026 gross tariff costs of $2.5 billion to $3.5 billion.
- U.S. Customs and Border Protection opened a refund portal on April 20, and approved IEEPA claims typically pay out in 60 to 90 days.
- A $1.1 billion charge to settle EV supplier claims pulled down net income even as GM kept the No. 2 U.S. EV spot with sales down about 19% from a year ago.
- Total U.S. deliveries fell 9.7% to 626,429, but strong full‑size pickups lifted North America margins to 10.1% as Silverado deliveries topped 128,000 and GM said it held 42% of the full‑size truck market.