General Motors Co

General Motors Company has established a Master Irrevocable Payment Undertaking (IPU) Agreement with Procura Auto Parts LLC to secure critical inventory for vehicle production. This program, with a maximum aggregate outstanding amount of $4.5 billion, aims to mitigate supply chain disruptions by having suppliers acquire and hold inventory. The IPUs will be funded by a syndicate of banks and will be accounted for as unsecured debt, with prepayments reflected as an asset. Payments on IPUs are due by August 6, 2029, and interest accrues at SOFR + 1.55%.

General Motors reported Q2 2026 net sales and revenue of $48.03 billion, a 1.9% increase year-over-year, but net income attributable to stockholders decreased by 31.1% to $1.31 billion, with diluted EPS falling to $1.41. For the first six months of 2026, net income was $3.93 billion, down 15.9%. The company also completed the acquisition of noncontrolling interests in Cruise in February 2025, winding down robotaxi operations to refocus its autonomous driving strategy on personal vehicles.

General Motors announced its second-quarter 2026 financial results, reporting revenue of $48.0 billion and EBIT-adjusted of $3.9 billion. The company also raised its full-year 2026 guidance for the second time this year, with updated EBIT-adjusted expectations of $14.0 billion to $16.0 billion and EPS-diluted-adjusted of $12.00 to $14.00. Additionally, GM's Board of Directors declared a quarterly cash dividend of $0.18 per share.

General Motors Company shareholders approved Amendment No. 2 to the 2020 Long-Term Incentive Plan at the Annual Meeting on June 2, 2026. This amendment increases the shares available for issuance by 27 million and extends the plan's term to June 3, 2036. Additionally, all 10 director nominees were elected, Ernst & Young LLP was ratified as the independent auditor, and named executive officer compensation was approved on an advisory basis with a recommended annual frequency. Two shareholder proposals were not approved.

General Motors Company announced that Jonathan McNeill, a member of its Board of Directors, will not seek re-election at the upcoming 2026 Annual Meeting of Shareholders and will retire from the Board on June 2, 2026. The company stated that Mr. McNeill's departure is not a result of any disagreement with the company's operations or policies. In connection with his retirement, the Board plans to reduce its size from 11 to 10 directors.

General Motors Co reported Q1 2026 total net sales and revenue of $43.62 billion, a slight decrease from $44.02 billion in Q1 2025. Net income attributable to stockholders was $2.63 billion, down from $2.78 billion year-over-year, with basic EPS at $2.87 compared to $3.40. While automotive sales declined, GM Financial revenue and equity income from China joint ventures showed growth. The company also noted the completion of the Cruise noncontrolling interest acquisition and winding down of robotaxi operations in February 2025.

General Motors reported Q1 2026 revenue of $43.6 billion, net income attributable to stockholders of $2.6 billion, and EBIT-adjusted of $4.3 billion. The company declared a quarterly cash dividend of $0.18 per share. GM also raised its full-year 2026 EBIT-adjusted guidance to $13.5 billion - $15.5 billion and adjusted EPS guidance to $11.50 - $13.50, primarily due to a favorable U.S. Supreme Court decision regarding certain U.S. tariffs.