General Motors Company (NYSE:GM) shares powered 14% higher in early trading on Tuesday after the automaker saw its third quarter 2025 revenue and earnings top Wall Street forecasts, while the company also raised its guidance for the year.
GM posted adjusted earnings per share (EPS) for the quarter of $2.80 on revenue of $48.59 billion.
Analysts surveyed by LSEG expected adjusted EPS of $2.31 and revenue of $45.27 billion.
The company also lifted its 2025 adjusted EPS forecast to $9.75 to $10.50 from $8.25 to $10 previously.
"I want to thank (US President Trump) and his team for the important tariff updates they made on Friday," GM CEO Mary Barra wrote in her shareholder letter.
"The MSRP offset program will help make US-produced vehicles more competitive over the next five years, and GM is very well positioned as we invest to increase our already significant domestic sourcing and manufacturing footprint."
The Trump administration announced late last week an executive order that will provide companies with a 3.75% rebate on the manufacturer's suggested retail price (MSRP) of a vehicle assembled in the US through 2030.
GM said its full-year tariff exposure is now seen at about $3.5 billion to $4.5 billion, down from a possible $4 billion to $5 billion impact it expected previously.