Executive VP & CFO, General Motors
Search every verified Paul Jacobson interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. On General Motors’ first-quarter 2026 earnings call, Paul Jacobson reported that the company achieved EBIT-adjusted of $4.3 billion, which he said surpassed expectations even after excluding a $500 million tariff adjustment. He stated that GM raised its full-year EBIT-adjusted guidance to $13.5–$15.5 billion and its EPS diluted adjusted guidance to $11.50–$13.50 per share. Jacobson noted that gross tariff costs for the year are now expected to be $2.5–$3.5 billion, down from an earlier forecast of $3–$4 billion, and that the company incurred $200 million in incremental gross tariff costs in the first quarter. He also said GM took an additional $1.1 billion in EV charges related to contract cancellations and supplier claims. In media appearances, Jacobson said the company has not added significant price increases and described the quarter as “really strong.” He stated that GM is “sticking with our models” on EVs and is not impairing other EV programs like some competitors, while acknowledging that EVs are “not affordable or not profitable at these levels right now.” Jacobson added that GM is temporarily pausing additional share repurchases until there is more certainty about the operating environment, and that the company is working with the government on tariff refunds under Section 232.
“In the first quarter, we incurred $200 million of incremental gross tariff costs including the tariff adjustment compared to minimal tariff costs last year.”
“In the first quarter, we took an additional $1.1 billion in EV charges, driven mainly by contract cancellations and supplier commercial claims. We expect about $1 billion of this will have a future impact.”
“Based on what we know today, and assuming the SAAR remains in the low 16 million unit range, we are raising our overall EBIT adjusted guidance to 13 and 1/2 to 15 and 1/2 billion dollars, up from 13 to 15 billion dollars. Likewise, we are raising our EPS diluted adjusted guidance to 11.50 to $13.50 per share, up from $...”
“Meanwhile, our gross tariff costs are now expected to be 2 and 1/2 to 3 and 1/2 billion dollars for the year, down from our original guidance of 3 to 4 billion because of the tariff adjustment we took in Q1.”
“We believe that repurchasing GM stock at the current valuation remains one of the most effective ways to deploy capital and create long-term value for our shareholders.”
“With the policy clarity we now have, we are updating our full-year EBIT adjusted guidance to a range of 10 to 12.5 billion, including a current tariff exposure of 4 to 5 billion.”
“Based on the current commercial environment, our updated guidance assumes we can offset at least 30% of this headwind via self-help initiatives. This results in EBIT adjusted in the 10 to 12.5 billion range, EPS diluted adjusted in the $8.25 to $10 per share range and adjusted automotive free cash flow in the 7.5 to 10...”
“We have $4.3 billion of capacity remaining under its share repurchase authorization, but we are temporarily pausing additional repurchases until we have more certainty with respect to our operating environment.”
“We're calling out about $500 million of pressure that we've added to our forecast for the year. So despite our beat, we're not taking up our guidance by nearly as much as that beat, primarily because we're continuing to adjust the business.”
“We haven't moved our free cash flow guidance like we did our event because we're not sure when that refund is going to come. We haven't applied for anything yet, but you know, we're going to work through that with the government in partnership.”
“Our capital allocation policy starts with investing in the business. We'll put 10 to 2 billion in much of that. This year is actually on shoring work that was previously done internationally. And we're bringing that in as a result of our tariff response.”
“Unlike many of our competitors, we're sticking with our models. We discontinued the Brightdrop van for very specific reasons, but we're not impairing any of our other EV programs like some of our competitors. We continue to believe that we can make EVs work through our winning platform.”
“Q1 EBIT adjusted was $4.3 billion, surpassing expectations even after excluding the 0.5 billion tariff adjustment. Once again, we demonstrated discipline in our approach to both pricing and inventory. In the first quarter, our US incentive spend per vehicle as a percentage of MSRP remained more than two points below th...”
“We are raising our overall EBIT adjusted guidance to 13.5 to 15.5 billion up from 13 to 15 billion. Likewise we are raising our EPS diluted adjusted guidance to 1150 to $13.50 50 cents per share, up from $11 to $13.”
“We believe that repurchasing GM stock at the current valuation remains one of the most effective ways to deploy capital and create long-term value for our shareholders. In Q1, in addition to distributing $164 million in dividends, we made $800 million in open market stock repurchases, retiring approximately 11 million...”
... broadcasting this call via webcast joining us today are Mary Bar GM's chair and CEO along with Paul Jacobson GM's executive ...
General Motors CFO Paul Jacobson says the automaker has not added significant price increases as he discusses first-quarter ...
04/28/2026 Q&A: 19:58 General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts ...
General Motors Company (GM) Q4 2025 Earnings Conference Call. Twitter - https://twitter.com/i101in #earningscall ...
Along with its third quarter earnings beat, GM reduced the expected impact of tariffs this year to between $3.5 billion and $4.5 billion, down from $4 billion to $5 billion. GM CFO Paul Jacobson told CNBC that while the impact will be smaller than previously forecast, GM is still "going to figure out how to overcome this" over the longer term.
Yahoo Finance executive editor Brian Sozzi breaks down the latest market news for October 21, 2025. Apple is nearing a $4 trillion market cap. Our panel discusses why Apple's stock is rallying and how it compares to Nvidia. Gold prices are under pressure. We examine why the metal is pulling back after a record run and whether investors should be concerned. General Motors CFO Paul Jacobson discusses his company topping third quarter earnings estimates, tariffs, demand, and loan delinquencies. For more Opening Bid videos, please visit: https://finance.yahoo.com/videos/seri... #youtube #stocks #i…
General Motors (GM) Q3 2025 Earnings Call Subscribe: https://www.youtube.com/@InsiderTradingLive?sub_confirmation=1.
CNBC's Phil LeBeau and General Motors CFO Paul Jacobson join 'Squawk Box' to discuss the company's quarterly earnings ...
10/21/2025 Q&A: 17:58 General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts ...
Sign in to search the full transcript archive, filter by topic, and access every quote from Paul Jacobson.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →