General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names. In addition, the company sells trucks, crossovers, cars, and automobile parts through retail dealers, and distributors and dealers, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. Further, it offers range of after-sale services through dealer network, such as maintenance, light repairs, collision repairs, vehicle accessories, and extended service warranties. Additionally, the company provides automotive financing; and software-enabled services and subscriptions. General Motors Company was founded in 1908 and is headquartered in Detroit, Michigan.

GM’s valuation looks more restrained than aggressive: the market already prices in decent profitability, but does not assign a premium for the quality of the business. On valuation multiples, the company looks cheap relative to revenue, book value, and free cash flow: P/S, P/B, and P/FCF are noticeably below industry medians, which supports the idea of undervaluation. At the same time, P/E is roughly in line with the industry, so the market is not giving a strong earnings discount, which means the upside from re-rating is limited. The recent P/E trend has sharply normalized after very high levels, indicating a recovery in earnings, but not the emergence of a clear driver for multiple expansion. Profitability remains a weak point: ROE, ROA, ROI, and return on tangible equity are materially below the industry, and gross, operating, and net margins also fall well short of the sector median. This means the business is generating profit, but doing so with low efficiency relative to competitors, and that is what limits fair value. A positive is the growth in absolute earnings: revenue, EBITDA, operating profit, and net income are at acceptable levels and generally look stable compared with previous periods. The balance sheet, however, does not look risk-free: debt/equity is above the industry median, debt remains significant, and current liquidity is only moderate, although the quick ratio looks acceptable. The company’s strengths are its scale, positive cash flow, and substantial equity base, which reduce the risk of financial stress. Its weaknesses are low operating efficiency and a high debt burden, which are likely to prevent the market from paying a valuation premium. There is currently no dividend yield, so investors do not receive additional support in the form of ongoing cash returns. Overall, the fundamentals support a moderately cautious view: the stock does not look expensive on assets and cash flow, but earnings quality and margins are still not strong enough to justify a meaningful increase in the target valuation.

NGM-10.26

General Motors Company

Сильный индекс, незначительно упал. Быки в растерянности.

Strong index, slightly down. The bulls are confused.

Сильный индекс, значительно вырос. Рынок на стороне быков.

Strong index, significantly up. The market is on the bulls' side.

Слабый индекс, незначительно вырос. Приток средств в лонги остается на невысоком уровне.

Weak index, slightly up. The inflow of funds into longs remains at a low level.

GM appears undervalued on a P/S, P/B, and P/FCF basis, but weak profitability and elevated debt limit revaluation potential.

Key Points
Ford Motor reported revenue growth in 2025 driven by its strong commercial segment and diverse vehicle portfolio.
General Motors maintained positive profitability despite slightly lower sales, supported by high-margin internal combustion trucks.
Which Detroit automaker represents the better investment for your portfolio in 2026?
The transition to electric vehicles continues to test Detroit's giants. Choosing between Ford Motor (NYSE:F) and General Motors (NYSE:GM) requires weighing sales growth against bottom-line stability as the industry evolves.
Ford is prioritizing its commercial Ford Pro segment and electric Ford Model e, while GM focuses on maintaining high profits from internal combustion trucks to fund its future. Both companies trade at low valuations, but their diverging paths in 2026 create unique opportunities for investors watching the automotive market.
The case for Ford Motor
Ford operates through three primary segments: Ford Blue for gas-powered vehicles, Ford Model e for electric vehicles, and Ford Pro for commercial customers. It serves a wide range of retail, government, and rental clients and is a leader among consumer discretionary stocks. In its latest annual report, filed for the fiscal year ended Dec. 31, 2025, the company noted it does not depend on any single customer for a material portion of its business.
In FY 2025, revenue reached nearly $187.3 billion, representing growth of roughly 1.2% over the prior year. This top-line increase resulted in a net margin of approximately -4.4%, leading to a net loss of about $8.2 billion for the period. This represents a significant shift from the previous fiscal year, when the company posted net income of nearly $5.9 billion.
As of its December 2025 balance sheet, the debt-to-equity ratio was roughly 4.7x. This metric, which divides total debt by shareholders' equity, indicates how much a company relies on borrowing. The current ratio, which measures the ability to cover short-term debts with short-term assets, was approximately 1.1x. Ford generated free cash flow of nearly $12.5 billion, which represents the cash remaining after subtracting capital expenditures from operating cash flow.
The case for General Motors
General Motors manages a portfolio of brands, including Chevrolet, Buick, GMC, and Cadillac, across various global markets. The company distributes its vehicles through an extensive network of independent authorized dealers to reach retail and fleet customers. These fleet clients include commercial businesses, government agencies, and rental companies that rely on General Motors for high-volume vehicle needs.
In FY 2025, revenue reached nearly $185.0 billion, which was a decrease of approximately 1.3% from the prior year. While sales dipped slightly, the company remained profitable, reporting net income of nearly $2.7 billion and a net margin of roughly 1.5%. This was a decline from the $6.0 billion in net income recorded during the previous fiscal year, reflecting changing consumer demand.
As of its December 2025 balance sheet, the company maintained a debt-to-equity ratio of roughly 2.1x. This suggests the company carries less debt relative to its equity than its primary domestic rival. The current ratio was approximately 1.2x, while free cash flow reached nearly $11.1 billion. This cash flow figure represents the money left over after paying for capital investments.
Risk profile comparison
Ford faces intense competition from global manufacturers and the rapid rise of Chinese electrified vehicle companies in international markets. Supply chain disruptions affecting key raw materials such as lithium and rare-earth minerals continue to pose operational challenges. The company is also navigating regulatory hurdles, including NHTSA-related consent orders and the need to align manufacturing strategy with shifting fuel economy standards.
General Motors relies heavily on the profitability of its internal combustion trucks and SUVs to fund its technological pivot. The company faces risks if consumer adoption of electric vehicles remains slower than anticipated in the coming years. Furthermore, General Motors faces ongoing litigation over product quality and significant regulatory scrutiny of vehicle emissions and data privacy practices.
Valuation comparison
General Motors appears slightly cheaper on an earnings basis, while Ford offers a lower multiple relative to its total sales.
Metric
Ford Motor
General Motors
Forward P/E
6.5x
5.8x
P/S ratio
0.3x
0.4x
Valuation metrics include those sourced from Financial Modeling Prep (FMP) and may differ from those of other data providers.
The Forward P/E is a measure of the stock price compared to future earnings estimates over the next year. The P/S ratio compares the company's total market value to its sales over the past twelve months.
Which stock would I buy in 2026?
When comparing Ford Motor and General Motors, investors should consider a few key factors. Let's have a look at them and see what that tells us about each stock.
First off, there's valuation. Both stocks are extremely affordable, with P/E ratios under 7x and P/S ratios under 0.5x. That said, there's a reason these stocks have very modest valuations. Neither one is substantially growing its respective revenue base. Both companies have averaged only 2.9% year-over-year revenue growth over the last three years. When adjusted for inflation, that's effectively no growth whatsoever.
Another factor to consider is each company's balance sheet. Both companies have considerable debt. Ford has the larger debt load, with nearly $132 billion in net debt; GM has just shy of $100 billion in net debt. What's more, both companies continue to add to their debt burdens. Over the last five years, Ford's net debt has increased by almost 47%; GM's net debt has expanded by 27%.
One final factor to weigh is shareholder returns. These come in two major forms: dividend payments and stock buybacks. Ford wins the dividend battle hands down. It offers a dividend yield of 4.9%, while GM has a modest dividend yield of only 0.9%. As for stock buybacks, GM has a clear lead. The company has a $6 billion program that has been active since January 2026. Ford has a much smaller program, approximately $400 million. Over the last five years, GM has reduced its shares outstanding by nearly 40%, while Ford's total outstanding shares have increased by 5.6%.
In summary, Ford Motor and General Motors are both facing a range of challenges, including high debt loads, macroeconomic headwinds, and competitive and technological pressures. As a result, neither stock has matched the performance of the S&P 500 over the last five years. However, if forced to choose between these two stocks, GM, with its superior stock buyback program and smaller debt load, is preferable to Ford stock, in my view.
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Jake Lerch has positions in Ford Motor Company. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.

Ford Motor vs. General Motors: Which Consumer Stock Is a Better Buy in 2026?

(RTTNews) - General Motors (GM) is preparing to expand its hybrid vehicle lineup as demand for the technology continues to rise, despite the added complexity and costs of combining electric and combustion powertrains.
GM has historically been cautious about hybrids, but consumers have increasingly shown a willingness to pay for vehicles that offer improved fuel efficiency without requiring a full transition to electric vehicles.
The Detroit automaker currently offers only one hybrid model, a version of the Chevrolet Corvette, after ending production of the Chevrolet Volt plug-in hybrid in 2019. Meanwhile, rivals Ford and Stellantis have worked with suppliers to bring hybrid models to market more quickly.
GM executive Anderson said the company's future hybrid strategy will combine internally developed and externally sourced technologies depending on the vehicle segment, costs and product requirements.
He said GM wants to retain control over technology and development timelines when strategically important, while relying on suppliers when components can be sourced more efficiently.

GM Plans Broader Hybrid Strategy As Consumer Demand Grows

Key Points
Ford currently looks slightly stronger on revenue, outperforming General Motors in five of the last eight comparable quarters, though the numerical difference between the two companies remained relatively narrow throughout most of the observed time frame.
The two companies demonstrated fluctuating quarter-over-quarter revenue patterns over the last two calendar years, revealing a mixed trajectory characterized by alternating periods of expansion followed by subsequent contractions in their reported top-line figures.
Investors should monitor whether the overall revenue gap between the two companies remains tightly grouped or if one separates from the other in upcoming quarters.
Ford Motor: Fluctuating Quarter-to-Quarter Revenue Patterns
Ford Motor (NYSE:F) primarily generates revenue by designing, producing, and selling trucks, commercial vans, and luxury Lincoln vehicles globally, while also providing retail installment contracts, direct financing leases, wholesale dealer loans, and commercial fleet financing services to a broad base of consumers and enterprise organizations.
It established plans for a multi-energy vehicle manufacturing joint venture in Spain with Geely Auto, and it initiated a comprehensive skilled labor workforce training alliance alongside prominent corporate partners like BlackRock and Alphabet's Google.
General Motors: Maintaining Tight Competition in Quarterly Revenue
General Motors (NYSE:GM) earns most of its revenue by manufacturing a diverse lineup of trucks, commercial sport utility vehicles, and passenger cars worldwide, in addition to offering subscription-based connected vehicle services, specialized fleet vehicle sales to government agencies, and comprehensive automotive financing options for retail buyers.
While confirming strategic plans to reintegrate popular smartphone interfaces into its upcoming truck models, it issued a safety recall affecting hundreds of thousands of vehicles experiencing software issues with their rearview cameras.
Why Revenue Matters for Investors
Revenue here refers to the data provider's standardized income-statement revenue line item, providing a broad measure of total incoming money before any expenses are subtracted.
Quarterly Revenue for Ford Motor and General Motors
Q3 2024
$46.2 billion (quarter ended Sept. 30, 2024)
$48.8 billion (quarter ended Sept. 30, 2024)
Q4 2024
$48.2 billion (quarter ended Dec. 31, 2024)
$47.7 billion (quarter ended Dec. 31, 2024)
Q1 2025
$40.7 billion (quarter ended March 31, 2025)
$44.0 billion (quarter ended March 31, 2025)
Q2 2025
$50.2 billion (quarter ended June 30, 2025)
$47.1 billion (quarter ended June 30, 2025)
Q3 2025
$50.5 billion (quarter ended Sept. 30, 2025)
$48.6 billion (quarter ended Sept. 30, 2025)
Q4 2025
$45.9 billion (quarter ended Dec. 31, 2025)
$45.3 billion (quarter ended Dec. 31, 2025)
Q1 2026
$43.3 billion (quarter ended March 31, 2026)
$43.6 billion (quarter ended March 31, 2026)
Q2 2026
$48.3 billion (quarter ended June 30, 2026)
$48.0 billion (quarter ended June 30, 2026)
Data source: Financial Modeling Prep. Data as of Sept. 21, 2026.
Foolish Take
Watching a company's quarterly revenue trends can tell investors several things. It can be an indicator of market demand and give investors hints about future growth trajectories. It's clear from the data above that iconic Detroit rivals Ford and GM remain locked in a tight race for customer dollars.
In addition to revenue, investors should also keep an eye on gross profit margin, which indicates how much revenue the company makes after making and selling its product. The automotive industry is known for its low profit margins. Ford's gross profit margin for Q2 2026 was 7.32%, while GM's was 7.64% -- another tight race.
While both companies benefit from their size, reputation, and large contracts, they also face stiff competition and an evolving landscape. Both companies are working on new energy technologies, which could prove costly up front and eat into their margins. Investors should pay attention to this new business segment, as widespread adoption could reinvigorate these legacy automakers, but manufacturing and marketing expenses could lead them to underperform in the short term.
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Sarah Sidlow has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet and BlackRock. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.
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Ford Motor Company vs. General Motors: A Close Revenue Race

Key Points
MP Materials is attempting to build a rare-earth metals business in the United States.
It has an operating rare-earth metals mine and is building out its processing capabilities.
The company expects to start shipping rare-earth metal magnets to General Motors very soon.
MP Materials (NYSE: MP) was early to the rare-earth metals story, positioning the company well as the importance of these materials became more widely understood. In fact, rare-earth metals are so important that the U.S. government even stepped in to provide the company with financing. The company's next big step is coming in the fourth quarter, when it expects to start commercial shipments of rare-earth magnets to General Motors.
MP Materials is in the right place at the right time
The big problem with rare-earth metals is that much of the world's supply comes from China. China has proven more than happy to use access to rare-earth metals as a geopolitical bargaining chip. In fact, China's threats to limit supply led automakers to warn that they may be unable to produce enough vehicles in mid-2025. The problem, however, is much bigger than the auto sector.
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Rare-earth metals go into high-tech products from cars to cellphones to missile defense systems. That last one makes access to rare-earth metals an issue governments can't ignore and helps explain why MP Materials is so well positioned. It is building a rare-earth metals business in the United States, a politically and economically stable region that will attract customers from Western nations. Of course, the company will also be well-positioned to supply its home market, including the U.S. defense industry. This is why the U.S. government is helping to fund MP Materials.
That said, MP Materials is still a start-up company. In the second quarter of 2026, it lost $0.01 per share on an adjusted basis amid heavy capital investments in its business. To be fair, that was an improvement over the $0.13 per share loss in the same quarter of 2025. Notably, revenues increased 89% year over year in the quarter. There is material progress being made here.
The next big step is already taking shape
One of the key achievements in the second quarter was MP Materials' shipment of rare-earth magnets to General Motors (NYSE: GM) for testing. Suppliers are rigorously tested before they get approved by automakers, given how important safety is in the car industry. MP Materials expects to start commercial shipments in the fourth quarter of the year.
Being included in an automaker's supply chain is a very big deal. It basically means MP Materials could have a reliable customer for years to come. GM could be the foundation on which the company builds its customer base. The GM relationship could also help the company move from a money-losing start-up to a sustainably profitable business.
To be fair, GM isn't the only customer that MP Materials is working with. For example, in the second quarter earnings release, it announced an agreement with a "new American aerospace and defense customer." The company also highlighted efforts to court drone manufacturers, stating that it had "executed subscription agreements with multiple leading U.S. and allied customers." So there is more going on here than just GM. But GM will be a very important milestone from a business development perspective.
MP Materials' next step is really a leap
It is still fairly early in MP Materials' development as a business. So agreements are great, but the company really needs to prove that it can reliably supply customers with rare-earth metals. That's the test it is about to face with GM. If MP Materials passes this test, then it will also have proven to the market that the long-term investment opportunity here is real. That's way more valuable than what it will earn from GM.
Should you buy stock in MP Materials right now?
Before you buy stock in MP Materials, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and MP Materials wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $383,680!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,382,954!*
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Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends MP Materials. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.

MP Materials Ships Its First Magnets to GM in Q4. This is What The Milestone Is Worth.

MP Materials MP is advancing its strategy to move beyond rare earth mining and processing into higher-value magnet manufacturing. During the second quarter of 2026, MP Materials delivered magnets to General Motors GM for in-vehicle qualification testing. MP expects to begin commercial shipments of magnets in the fourth quarter, followed by a steady production ramp.
The Magnetics segment represents the downstream magnet manufacturing and related operations of MP Materials. It includes the Independence Facility, where the company produces and sells magnetic precursor products and started manufacturing neodymium-iron-boron (NdFeB) permanent magnets in December 2025.
MP is constructing a second magnet manufacturing facility in Northlake, TX, known as the “10X Facility”. It is expected to boost MP's overall U.S. rare earth magnet production capacity to roughly 10,000 metric tons per year. The company is also extending its heavy rare earth elements refining capability at Mountain Pass, enabling a more complete domestic supply chain for permanent magnets.
The Magnetics segment generated $37.6 million in revenues in the first half of 2026, up 50% year over year, while adjusted EBITDA nearly doubled to $17.1 million from $8.6 million. Revenues had surged 306% year over year to $21.1 million in the first quarter of 2026, driven by increased production of magnetic precursor products. Segment adjusted EBITDA reached $9.6 million compared with $0.49 million in the year-ago quarter. In the second quarter, revenues declined 17% year over year to $16.5 million, while segment adjusted EBITDA fell 7% to $7.5 million.
The decline in second-quarter revenues reflected the startup of magnet production at the Independence Facility and its impact on the pricing mechanism for magnetic products. Therefore, the quarterly decline does not necessarily indicate weaker underlying demand for the company’s downstream business.
Notably, the Magnetics segment began generating revenues from magnetic precursor sales to General Motors in the first quarter of 2025. As of June 30, 2026, MP has collected $150 million in required prepayments for the sale of magnetic precursor products to GM under its long-term supply agreement. As of that date, the company had delivered $104.5 million of magnetic precursor products and the remaining delivery of $45.5 million will likely be made within one year. Once that is completed, MP does not expect additional precursor sales to GM, and instead plans to begin sales of finished magnets in 2026.
MP is also broadening its downstream opportunity through Project Swarm, an initiative with U.S. and allied drone manufacturers to aggregate and standardize future magnet demand. In addition, its partnership with Apple AAPL covering magnet recycling, production and joint development continues to progress.
The Magnetics segment has established meaningful revenues and profitability, but its next phase of growth will depend on customer qualification, commercial magnet shipments and the production ramp at Independence and 10X. Successful execution on these milestones could increasingly position downstream magnet manufacturing as a larger contributor to MP’s growth.
MP’s Price Performance, Valuation & Estimates
MP Materials’ shares have declined 36.1% in a year against the industry’s 28.4% growth.
MP is trading at a forward 12-month price/sales multiple of 12.72X, a significant premium to the industry’s 1.43X.
The Zacks Consensus Estimate for MP Materials’ 2026 earnings is pegged at eight cents per share, indicating an improvement from the loss of 24 cents in 2025. The estimate for 2027 is 88 cents per share, indicating a 1,009% year-over-year improvement.
The estimate for both 2026 and 2027 has, however, moved down in the past 60 days, as shown in the chart below.
The company currently carries a Zacks Rank #5 (Strong Sell).
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MP Materials' Magnetics Segment: Can It Unlock the Next Growth Phase?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco RAFI US 1000 ETF (Symbol: PRF) where we have detected an approximate $345.8 million dollar inflow -- that's a 3.5% increase week over week in outstanding units (from 179,680,000 to 185,910,000). Among the largest underlying components of PRF, in trading today General Motors Co (Symbol: GM) is down about 0.2%, Elevance Health Inc (Symbol: ELV) is up about 0.2%, and Ford Motor Co. (Symbol: F) is lower by about 1.7%. For a complete list of holdings, visit the PRF Holdings page » The chart below shows the one year price performance of PRF, versus its 200 day moving average:
Looking at the chart above, PRF's low point in its 52 week range is $44.11 per share, with $56.655 as the 52 week high point — that compares with a last trade of $55.36. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further PRF Research:

PRF, GM, ELV, F: Large Inflows Detected at ETF

THOR Industries, Inc. THO posted adjusted earnings of 78 cents per share for the fourth quarter of fiscal 2026, missing the Zacks Consensus Estimate of 93 cents by 16.1%. The bottom line fell 66.9% year over year as North American margins came under pressure from lower volumes, promotions and higher costs.
Quarterly revenues of $2.31 billion topped the Zacks Consensus Estimate of $2.15 billion by 7.4% but declined 8.4% year over year. Global independent dealer inventories fell 11.5% from a year earlier, while European growth partly offset weaker North American results.
Thor Industries, Inc. Price, Consensus and EPS Surprise
THO Margins Contract as Profitability Weakens
Gross profit declined 23% year over year to $285.6 million, while gross margin narrowed 230 basis points to 12.4%. Net income attributable to THOR fell 67.5% to $40.8 million.
Selling, general and administrative expenses decreased to $206.4 million from $237.9 million. Adjusted EBITDA dropped 37.1% to $131.7 million. Management said THOR absorbed a meaningful portion of supplier cost increases to protect retail affordability rather than pass the full burden to dealers and customers.
THOR Towable Sales Slide Amid Dealer Caution
North American Towable net sales fell 22.7% year over year to $687.3 million as unit shipments declined 19.7% to 20,616. Fifth-wheel unit shipments dropped 34.7%.
Gross profit decreased 38.9% to $72.4 million, while gross margin contracted 280 basis points to 10.5% on lower sales, unfavorable mix, promotions and higher material costs. Pretax income fell 77.2% to $17 million. Backlog rose 74.6% to $916.6 million, while dealer inventory fell 16% to 53,330 units and declined 20.6% sequentially.
THO Motorized Segment Faces Sharper Margin Pressure
North American Motorized net sales declined 10.4% to $499.3 million as unit shipments fell 13.1% to 3,806. A 2.7% increase in overall net price per unit partly offset lower volumes. Class C unit shipments declined 19.1% in the quarter.
Gross margin dropped 600 basis points to 5.3% as material, overhead and warranty cost percentages increased. The segment posted a pretax loss of $5.2 million, while backlog decreased 27.5% to $728.2 million and dealer inventory increased 9.2% to 10,639 units.
THOR Europe Delivers Resilient Top-Line Growth
European RV net sales increased 5% year over year to $969.2 million, supported by a 3.9% rise in unit shipments to 13,370 and a 1.1% increase in overall net price per unit. Favorable currency movements contributed 0.1% to the pricing increase. Sales also benefited from lower promotional activity and a shift toward higher-priced motorized products.
Gross profit rose 3.3% to $148.7 million, while gross margin edged down 30 basis points to 15.3%. Pretax income increased 5.9% to $55 million. European backlog grew 8.4% to $1.65 billion, while dealer inventory declined 7.7% to 20,520 units.
THO Liquidity Supports Capital Deployment
THOR ended fiscal 2026 with $482 million in cash and cash equivalents and total liquidity of $1.30 billion. Gross debt stood at $875.8 million, while cash from operations for the full fiscal year totaled $321.2 million, down from $577.9 million a year earlier.
During fiscal 2026, THO reduced debt by $59.7 million and repurchased $115.1 million of shares, including $34.3 million in the fourth quarter. Capital expenditures totaled $152.4 million, while the regular quarterly dividend stood at 52 cents per share. The remaining repurchase authorization was $264.2 million as of July 31.
THOR Defers Fiscal 2027 Guidance as Cost Actions Advance
Management expects the fiscal 2027 retail environment to remain relatively flat with fiscal 2026 and held off on issuing annual guidance until it gathers feedback from key September industry events. The company expects current Towable pressures to persist to some degree into the first half of fiscal 2027 and plans to provide full-year guidance later this calendar year.
THOR expects strategic initiatives and restructuring activities to improve its annual earnings profile by more than $100 million once fully implemented. The company has unified its North American RV operations under one group to expand purchasing leverage, standardize operations, align brands and integrate data systems.
THO currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Releases From Auto Space
General Motors Company GM reported second-quarter 2026 adjusted earnings of $3.57 per share, up 41.3% year over year. The figure beat the Zacks Consensus Estimate of $3.13 by 14.06%. Revenues increased 1.9% to $48.03 billion and surpassed the consensus estimate of $46.56 billion by 3.15%. Strong pricing, lower costs and disciplined incentives supported results. General Motors raised its full-year adjusted EBIT guidance to $14-$16 billion from $13.5-$15.5 billion. Adjusted earnings are now projected at $12-$14 per share, up from the prior range of $11.50-$13.50.
Tesla, Inc. TSLA reported second-quarter 2026 adjusted earnings of 33 cents per share, which declined 17.5% year over year. The figure missed the Zacks Consensus Estimate of 50 cents by 34%. Revenues advanced 25.5% to $28.24 billion and surpassed the consensus estimate of $25.81 billion by 9.41%. Tesla expects 2026 capital expenditures to exceed $25 billion and rise further over the next two to three years.
Genuine Parts Company GPC reported second-quarter 2026 adjusted earnings of $2.15 per share, beating the Zacks Consensus Estimate of $2.10 by 2.38%. The bottom line increased 2.4% from $2.10 in the year-ago quarter. Revenues rose 6% year over year to $6.54 billion and surpassed the consensus estimate of $6.39 billion by 2.36%. Genuine Parts reaffirmed its 2026 adjusted earnings guidance of $7.50-$8 per share and total sales growth outlook of 3-5.5%. Genuine Parts ended June with $2.3 billion of liquidity, including $559 million in cash.
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THO Q4 Earnings Miss Estimates on North American Margin Pressure

AutoZone, Inc. AZO reported fourth-quarter fiscal 2026 earnings per share of $56.05, which increased 15.1% year over year and beat the Zacks Consensus Estimate of $54.54 by 2.8%. Gross margin expansion supported the profit increase.
Net sales rose 5.6% to $6.60 billion but missed the consensus mark of $6.69 billion by 1.4%. Total company same-store sales increased 1.5% on a constant-currency basis.
AutoZone, Inc. Price, Consensus and EPS Surprise
AZO’s Same-Store Sales Show Mixed Regional Trends
Domestic same-store sales increased 1.6% in the 16-week quarter. International same-store sales advanced 10.7% on a reported basis, while constant-currency growth was 1.3%, reflecting the impact of currency movements.
Total company same-store sales rose 2.7% on a reported basis. Sales per average store increased to $830,000 from $823,000, while sales per average square foot remained at $122. Management said the selling environment was difficult during the first eight weeks, but sales strengthened over the final eight weeks.
AutoZone’s Margin Gains Lift Quarterly Profitability
Gross margin expanded 182 basis points year over year to 53.3%. The improvement included a 145-basis-point benefit from tariff refunds and a 105-basis-point favorable net non-cash LIFO impact, partly offset by a higher commercial sales mix. The quarter included a $15 million LIFO charge versus an $80 million charge a year earlier.
Operating expenses increased to 33.4% of sales from 32.4%, with deleverage primarily tied to growth initiatives. Operating profit rose 10.1% to $1.32 billion, while net income increased 11.3% to $931.59 million. Operating margin improved 81 basis points to 20%.
AZO’s Commercial Business Maintains Solid Momentum
Domestic commercial sales reached $1.91 billion, up 8.6% from the year-ago quarter. Average weekly sales per commercial program increased 2.7% to $18,700, showing continued growth in the professional customer channel.
The company ended the quarter with 6,443 domestic commercial programs, up 5.7% year over year. Commercial programs were available in 94% of domestic stores, supporting AutoZone’s push to expand service to repair shops and other professional customers.
AutoZone’s Store Openings Expand Its Global Footprint
AutoZone opened 175 stores during the quarter, including 97 in the United States, 68 in Mexico and 10 in Brazil. The global store count reached 8,031 at quarter-end compared with 7,657 a year earlier.
The domestic network ended with 6,863 stores, while Mexico and Brazil had 1,001 and 167 stores, respectively. Total company square footage reached 54.66 million square feet versus 51.82 million a year earlier. The company also opened 16 new Mega Hub stores in the United States.
AZO’s Balance Sheet Reflects Growth Investment
Merchandise inventories increased 10.1% year over year to $7.74 billion, primarily due to growth initiatives. Inventory per store rose 5% to $963,000, while net inventory per store was negative $107,000 compared with negative $131,000 a year earlier. Inventory turns eased to 1.3 times from 1.4 times.
Cash and cash equivalents stood at $326.12 million at fiscal year-end, while total debt was $9.08 billion. Fourth-quarter cash flow from operations totaled $1.18 billion, and capital spending was $498.77 million. Adjusted debt to EBITDAR remained at 2.5 times, while working capital was negative $1 billion.
AutoZone’s Capital Returns Stay Substantial
AutoZone repurchased 223,000 shares during the quarter for $697.50 million at an average price of $3,125 per share. Diluted weighted average shares outstanding declined 3.3% year over year to 16.6 million. The company had $1.61 billion remaining under its share repurchase authorization at fiscal year-end.
Management expects sales in the United States, Mexico and Brazil to accelerate in fiscal 2027. The company plans to keep improving its inventory offering, delivery speed and customer service while pursuing domestic commercial, do-it-yourself and international growth.
AZO currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Releases From Auto Space
General Motors Company GM reported second-quarter 2026 adjusted earnings of $3.57 per share, up 41.3% year over year. The figure beat the Zacks Consensus Estimate of $3.13 by 14.06%. Revenues increased 1.9% to $48.03 billion and surpassed the consensus estimate of $46.56 billion by 3.15%. Strong pricing, lower costs and disciplined incentives supported results. General Motors raised its full-year adjusted EBIT guidance to $14-$16 billion from $13.5-$15.5 billion. Adjusted earnings are now projected at $12-$14 per share, up from the prior range of $11.50-$13.50.
Tesla, Inc. TSLA reported second-quarter 2026 adjusted earnings of 33 cents per share, which declined 17.5% year over year. The figure missed the Zacks Consensus Estimate of 50 cents by 34%. Revenues advanced 25.5% to $28.24 billion and surpassed the consensus estimate of $25.81 billion by 9.41%. Tesla expects 2026 capital expenditures to exceed $25 billion and rise further over the next two to three years.
Genuine Parts Company GPC reported second-quarter 2026 adjusted earnings of $2.15 per share, beating the Zacks Consensus Estimate of $2.10 by 2.38%. The bottom line increased 2.4% from $2.10 in the year-ago quarter. Revenues rose 6% year over year to $6.54 billion and surpassed the consensus estimate of $6.39 billion by 2.36%. Genuine Parts reaffirmed its 2026 adjusted earnings guidance of $7.50-$8 per share and total sales growth outlook of 3-5.5%. Genuine Parts ended June with $2.3 billion of liquidity, including $559 million in cash.
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This article originally published on Zacks Investment Research (zacks.com).

AutoZone Q4 Earnings Beat Estimates on Tariff Refunds, Sales Miss

Key Points
General Motors' returns have dwarfed that of its peers over the past three years.
While the competition is improving hybrid offerings amid a boom, GM is unveiling new V-8 engines.
The automaker also has a plan, albeit trailing its peers, to attack the growing demand for hybrid options.
To say that General Motors (NYSE: GM) has been doing a lot correctly lately might be an understatement. If the past three years have been a race, GM would be lapping its nearest rivals in Ford Motor Company and Stellantis -- and even its Japanese competition. If a picture is worth a thousand words, this graph says many more.
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So, if the automaker is doing so many things correctly, why is it betting big on hunky V-8 engines when the competition is driving toward the hybrid sales boom? And will the decision cost investors by bringing its stock gains back down to earth?
Let's set the stage
As regulatory and policy changes severely hinder electric vehicle (EV) sales growth in the U.S., consumers have flocked to hybrids as gasoline prices continue to rise amid the Iran conflict. GM made a big gamble with its aggressive strategy to try to skip over the hybrid middle phase and focus more heavily on the long-term EV stage -- a costly mistake that forced the company to take billions in charges and write-downs.
Its competitors invested more in hybrids through this whole process, and they're reaping the benefits. Toyota, at the other end of the spectrum, accounted for 49% of U.S. hybrid sales during the first quarter of 2026, according to Cox Automotive.
On the other hand, GM currently sells one hybrid vehicle, and that's a Corvette. In comparison, Ford has a profitable and broad list of hybrid options. It has strong sales from its F-150 and Maverick hybrids, while also discontinuing light-duty diesels. So is GM doubling down by introducing new V-8 engines and high-mileage diesels instead of rebounding with more hybrid options?
What GM is doing
On Sept. 17, GM unveiled two sixth-generation small-block V-8 engine options for its redesigned Chevrolet Silverado 1500 and GMC Sierra 1500 pickups that go on sale this fall. This is happening even while dealers, investors, and analysts see competitors building hybrid powertrains as gasoline and diesel prices are up 39% and 73%, respectively, compared to a year ago, according to the AAA.
This looks like a big mistake at first glance, but there are a couple of reasons behind this decision. First, investors know that full-size trucks are the industry's bread-and-butter for juicy margins and big profits, and GM needs to optimize those sales to help offset increased costs from tariffs and the billions in write-downs the automaker took over the past year for driving too fast on its EV strategy.
Second, investors have to consider that these engines aren't developed overnight. The automaker has been working on them before the Trump administration threw multiple curveballs at the automotive industry, and GM will continue to deliver new technology with its gasoline-powered trucks that, even with an eventual transition to EVs, will still have a market.
What it all means
John Murphy, who became a widely respected voice in the automotive industry during his 26 years as Bank of America's automotive analyst, said that General Motors' avoidance of hybrids "is not as clear a major mistake as I think some people believe."
And although the company sells only one hybrid currently, it's not going to stay that way. It is bringing some plug-in hybrids to the market as soon as next year. There aren't clear details yet, but the automaker is likely to focus on adding plug-in hybrid options to its best-selling vehicles and perhaps those that share platforms. The Chevrolet Equinox, Buick Envision, GMC Terrain, and Cadillac XT4 all share a platform for which a hybrid powertrain could be added.
The headlines of GM investing in more gas-guzzling V-8 engines while consumers are more rapidly buying hybrids sound worse than they are. Management is doing a lot of things right. The graph at the beginning isn't going to change because of this strategic move.
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Bank of America is an advertising partner of Motley Fool Money. Daniel Miller has positions in Ford Motor Company and General Motors. The Motley Fool recommends General Motors and Stellantis. The Motley Fool has a disclosure policy.

Why This Top Automaker's Gamble on V-8 Engines During a Hybrid Boom Actually Makes Sense

Key Points
General Motors and Ford Motor Company are both competing once again for defense business.
Analysts believe these developments could add bottom-line profits quickly.
These developments could also help grant Detroit automakers better valuations.
Detroit automakers Ford Motor Company (NYSE: F) and General Motors (NYSE: GM) are fighting a new kind of war: one against the narrative that automakers are low-margin and capital-intensive. The automakers are doing this by entering new businesses, such as Ford with its battery energy storage systems and General Motors with its high-margin subscription services for OnStar and Super Cruise.
Both are also turning back the clock and getting back into the defense business to support the U.S. military. GM's first delivery of Patriot missile parts to Lockheed Martin is the most recent example of its growing value to investors.
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History 101
It's a little buried in Ford's and General Motors' histories, but many forget that during World War II, both Detroit icons halted civilian car production to manufacture a long list of weaponry, vehicles, and aircraft. General Motors converted more than 100 plants and factories to build everything from airplane engines to machine guns and tank components. Ford similarly used its massive production capacity to deliver thousands of jeeps, heavy-duty military trucks, and even complete B-24 Liberator bombers to the military.
Thankfully, the situation today is far less dire, but there is an opportunity for both Ford and GM to create value for investors by dipping their toes back into the defense business. While many investors overlooked the development, General Motors resurrected GM Defense as a dedicated subsidiary back in 2017 and already builds lightweight infantry squad vehicles (ISVs) for the U.S. Army, based on the Chevrolet Colorado pickup.
Adding missile parts production
The first thing that might catch investors' attention is the sheer speed with which General Motors reacted to demand in the defense business. Less than a month after forming a partnership, General Motors delivered its first Patriot missile parts to Lockheed Martin. More specifically, GM delivered castings that make up the outer shell of the PAC-3 missiles, and in only 22 days after the ink on its Lockheed partnership dried.
Not only was that reaction speed impressive, but it could be a signal of more to come as President Donald Trump invoked the War Powers Act to encourage defense contractors, as well as other industrial juggernauts such as Ford and GM, to help feed the shrinking supply of missiles and munitions as the conflict in Iran continues to drag on, as well as supplying Ukraine in its conflict with Russia.
These developments are certainly on a far smaller scale than during the era of being the Arsenal of Democracy, but this is incremental business, and both Detroit automakers are pushing for more.
Does this make GM and Ford good investments?
The question for investors: At this smaller scale, how much could this boost Ford and GM's bottom lines? General Motors has a head start, albeit still in the early stages of building its revived defense business. Still, it's already expected to generate nearly $700 million in revenue this year and is on pace to generate EBIT profits despite early investment costs.
General Motors also expects a compound annual growth rate (CAGR) of more than 30% for GM Defense over the next several years, with operating margins targeted at 12% to 15%, a vast improvement over the lower-single-digit margins often seen across the traditional automotive industry.
For investors, this is certainly something to cheer, but not necessarily because it's going to instantly boost revenue and earnings to a new level -- it's not, when you consider GM is estimating its annual revenue will top $185 billion in 2026.
That said, this is but the latest step and development showing these age-old automakers can learn new and relearn old tricks. These tricks are coming with higher margins and slowly changing the narrative that automakers are forever low-margin companies. That is a big win, and savvy investors should keep an eye on valuations going forward to see whether Wall Street rewards thinking-outside-the-box strategies.
Should you buy stock in Ford Motor Company right now?
Before you buy stock in Ford Motor Company, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ford Motor Company wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
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Daniel Miller has positions in Ford Motor Company and General Motors. The Motley Fool has positions in and recommends Lockheed Martin. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.

Indicator	Mar 26	Jun 26	Sep 26	TTM
Net Income	RUB 2.61B	RUB 1.29B	RUB 3.31B	RUB 3.31B
Operating Income	RUB 2.93B	RUB 1.46B	RUB 3.60B	RUB 3.60B

Indicator	Mar 26	Jun 26	Sep 26	TTM
Total Assets	RUB 280.97B	RUB 282.74B	RUB 289.18B	RUB 289.18B
Cash on Hand	RUB 24.42B	RUB 24.72B	—	RUB 24.72B
Total share holder equity	RUB 64.69B	RUB 63.64B	RUB 64.52B	RUB 64.52B

Indicator	Mar 26	Jun 26	Sep 26	TTM
Long Term Debt	RUB 91.46B	RUB 90.69B	RUB 85.28B	RUB 85.28B
Total liabilities	RUB 216.28B	RUB 219.10B	RUB 224.66B	RUB 224.66B

General Motors Company

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