General Motors (GM) and Ford Motor Company (F) reported stronger-than-expected first-quarter 2026 earnings, with Ford’s adjusted EPS at 66 cents, surpassing estimates of 20 cents, and GM’s at $3.70, exceeding forecasts of $2.61. Ford’s revenues rose to $43.3 billion, a 6% increase year over year, while GM’s revenues slipped slightly to $43.62 billion, missing the consensus estimate by 0.9%.
Both companies raised their full-year 2026 guidance, with GM increasing its EBIT-adjusted range to $13.5-$15.5 billion and Ford raising its EBIT guidance to $8.5-$10.5 billion, bolstered by tariff refunds. GM noted $750 million in recognized digital revenues, and both firms are navigating rising costs, including a projected $2.5-$3.5 billion in gross tariff costs for GM and around $1 billion for Ford in 2026.
Despite positive earnings, macroeconomic risks and commodity cost pressures still loom for both automakers. Analysts have downgraded EPS estimates slightly, with Ford’s at $1.49 and GM’s at $12.42 for 2026. While both stocks are rated as “Hold,” Ford’s higher dividend yield and strategic focus on affordable EVs suggest it may be better positioned for long-term growth.
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