General Motors Q2 2026 Earnings Call Summary: Guidance Raised, EV Restructuring, and 2027 Outlook
General Motors reported strong Q2 2026 results, raising guidance for the second time in 2026. Key drivers include steady North American demand, consistent pricing in full-size pickups (42% market share), and a 2.5 percentage point margin expansion driven by lower EV losses, reduced warranty costs, and operational efficiencies. The company is onshoring manufacturing to reach 2 million units of U.S. capacity by 2027. EV losses are projected to improve by $1B-$1.5B for the full year, while software and services revenue is expected to exceed $3B in 2026. GM recorded $2.3B in EV-related restructuring charges in Q2. The 2027 outlook anticipates year-over-year growth in revenue, margins, EBIT, and free cash flow, supported by next-generation pickup production and Super Cruise expansion. GM is also partnering with Peak Energy to develop sodium-ion battery cells for grid storage.
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