General Motors (GM) Raised Guidance Twice This Year. Why Is the Stock Still So Cheap?

What happened: General Motors raised its full-year profit outlook twice this year, yet the stock still trades at a low multiple. GM reports third-quarter results next week. Key numbers: Q2 2026 adjusted EPS $3.57 versus $2.53 a year earlier. GAAP EPS $1.41 versus $1.91. North America adjusted EBIT margin 8.6% versus 6.1%. Why it matters: The gap between adjusted and GAAP earnings is the central question. Rising North American margins, higher cash flow, and stepped-up buybacks support the adjusted view, while EV charges weigh Market: -1.1% today ($83.05), +3.0% YTD, 0.9x vol — as of 23:45 UTC

General Motors raised its full-year profit outlook twice this year, yet the stock still trades at a low multiple. GM reports third-quarter results next week.

The gap between adjusted and GAAP earnings is the central question. Rising North American margins, higher cash flow, and stepped-up buybacks support the adjusted view, while EV charges weigh Market: -1.1% today ($83.05), +3.0% YTD, 0.9x vol — as of 23:45 UTC