00:00It's Benzinga, bringing Wall Street to Main Street.
00:02General Motors raised its 2026 guidance after beating first quarter earnings expectations,
00:09aided by a roughly $500 million benefit from a U.S. Supreme Court decision
00:13to terminate and refund certain Trump-era tariff levies, according to CNBC.
00:19The Detroit automaker reported adjusted earnings of $3.70 per share
00:23on $43.62 billion in revenue, compared with expectations of $2.62 per share
00:30and $43.68 billion in revenue.
00:34GM's tariff refund under the International Emergency Economic Powers Act
00:37was expected by analysts.
00:40Excluding IEEPA tariffs, GM expects $2.5 billion to $3.5 billion in gross tariff costs this year,
00:48down from its prior estimate of $3 billion to $4 billion.
00:52GM updated its 2026 guidance to project-adjusted EBIT of $13.5 billion to $15.5 billion,
00:59or $11.50 to $13.50 per share, reflecting a $500 million or 50-cent increase from prior expectations.
01:08Shares rose about 5% in pre-market trading after closing at $77.96 on Monday,
01:14down less than 1% for the day and 4.1% year-to-date.
01:17For all things money, visit Benzinga.com.
01:20For all things money, visit Benzinga.com.
01:20For all things money, visit Benzinga.com.
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