By Pras Subramanian

GM (GM) will report second quarter results before the bell on Tuesday, with investors expecting the Big Three stalwart to keep growing profits, despite fewer sales. 

For the quarter, GM is expected to report Q2 revenue of $46.61 billion, per Bloomberg consensus, down roughly 1% from the $47.1 billion the automaker posted a year ago. GM's adjusted earnings per share is estimated at $3.19, and adjusted EBIT of $3.7 billion. 

For comparison, GM's adjusted EBIT in Q2 last year came in at $3 billion — a figure heavily weighed down by tariff costs that are now easing, as tariff offsets take hold.

In addition to government offsets that are reducing its tariff bill, GM has spent the past year reworking its supply chain, shifting production, and negotiating with suppliers to blunt the tariff hit. 

That allowed GM to raise its full-year 2026 guidance when it reported first quarter results back in April.

For the full year, GM expects:

• Adjusted EBIT of $13.5 billion-$15.5 billion

• Adjusted earnings per share of $11.50-$13.50

• Adjusted automotive free cash flow of $9 billion-$11 billion

But while tariffs easing will help its bottom line, its top line has been slipping.

GM sold approximately 715,000 vehicles in the US in the second quarter, a 4.2% decline from a year ago, though it held its position as the country's top-selling automaker. 

The company said much of the drop was due to discontinued models like the Cadillac XT4 and XT6 and the Chevrolet Malibu, as well as a sharp EV pullback following the expiration of the federal EV tax credit, which pulled demand forward into late 2025. 

Chevy Equinox EV sales fell 61.8%, the Blazer EV dropped 68.1%, and the GMC Hummer EV slid 56.8%. GM still gained EV market share, holding the No. 2 spot behind Tesla (TSLA) at an estimated 13.5% to 14%.

The GMC Sierra is displayed at the 2026 Canadian International AutoShow in Toronto, Ontario, on Feb. 12, 2026. (Arrush Chopra/NurPhoto via Getty Images). NurPhoto via Getty Images