(RTTNews) - General Motors Co. announced Tuesday a drop in second-quarter profit even as revenue increased. In addition, the automaker cut its fiscal 2026 reported net profit forecast due to larger adjustments but lifted its adjusted earnings projection for the second time this year. The firm also declared a quarterly dividend.

In early trading on the NYSE, GM shares advanced roughly 2.27 percent to reach $77.55.

For fiscal 2026, the company now anticipates net income attributable to stockholders in the range of $8.4 billion to $9.8 billion, or $8.98 to $10.98 per share. This guidance is below the prior forecast of $9.9 billion to $11.4 billion in net income and $10.62 to $12.62 per share in earnings.

The updated outlook primarily incorporates expected adjustments of $3.02 per share, compared with the earlier projection of $0.88 per share.

Nevertheless, GM raised its adjusted earnings guidance and now expects $12.00 to $14.00 per share, versus the previous estimate of $11.50 to $13.50 per share.

Adjusted EBIT is now projected at $14.00 billion to $16.00 billion, above the prior range of $13.50 billion to $15.50 billion.

Further, GM stated that its Board of Directors approved a quarterly cash dividend of $0.18 per share, payable September 17 to shareholders of record at the close of trading on September 4.

During the second quarter, net income attributable to common stockholders totaled $1.305 billion, a decline of 31.1 percent from $1.895 billion in the prior year. Earnings per share fell 26 percent to $1.41 from $1.91 last year.

Adjusted earnings reached $3.247 billion or $3.57 per share for the quarter, compared with $2.464 billion or $2.53 per share a year earlier.

Adjusted EBIT climbed 29.8 percent to $3.943 billion from $3.037 billion in the same period last year. Adjusted EBIT margin improved to 8.2 percent, up 1.8 percentage points from 6.4 percent previously.

Revenue for the quarter grew 1.9 percent to $48.026 billion from $47.122 billion a year ago.

Wholesale vehicle sales by Automotive operations totaled 990 thousand units in the quarter, compared with 974 thousand units last year.

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