General Dynamics Reports Third-Quarter 2026 Financial Results

Submarine orders drove bookings, while quarterly operating cash flow declined despite higher earnings.

Rhea-AI Summary

General Dynamics (NYSE: GD) reported third-quarter 2026 revenue of $14.6 billion, with growth across all four business segments. Revenue rose 12.9% year over year, diluted earnings per share increased 15.7% to $4.49, and operating earnings rose 14.7% to $1.527 billion. Operating margin expanded to 10.5% from 10.3%.

Orders totaled $98.8 billion, driven by Virginia- and Columbia-class submarine orders, bringing backlog to $220.3 billion. Orders were 6.8 times revenue. Quarterly operating cash flow fell to $1.710 billion from $2.109 billion, while capital expenditures increased to $481 million from $212 million. Debt was reduced by $500 million during the quarter. Combat Systems operating earnings declined 1.5%, and its margin narrowed; Technologies also reported a lower margin. For the first nine months, revenue increased 10.4% to $42.141 billion and diluted EPS rose 13.6% to $12.83.

40 points · 1 major

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0 major · 13 points

How the balance works

Positive

• Major pointDefense orders totaled $93.8 billion, driven by Virginia- and Columbia-class submarines; orders were 8.5 times revenue. 93% of market cap
• Moderate pointThird-quarter revenue increased 12.9% year over year to $14.6 billion.
• Moderate pointThird-quarter diluted EPS rose 15.7% to $4.49 year over year.
• Moderate pointThird-quarter operating earnings increased 14.7% to $1.527 billion year over year.
• Moderate pointThird-quarter net earnings increased 16.1% to $1.229 billion year over year.
• Moderate pointAerospace orders totaled $5 billion, with orders equal to 1.4 times revenue. 5% of market cap
• Moderate pointQuarter-end backlog reached $220.3 billion.
• Moderate pointAerospace quarterly operating margin increased to 14.5% from 13.3% a year earlier.
• Moderate pointDebt fell $500 million during the quarter.
• Moderate pointCash and equivalents increased to $4.388 billion from $2.333 billion at December 31, 2025.
• Moderate pointNet debt declined to $2.628 billion from $5.680 billion at December 31, 2025.
• Moderate pointNine-month operating cash flow increased to $5.745 billion from $3.559 billion a year earlier.
• Moderate pointNine-month free cash flow, operating cash flow less capital expenditures, rose to $4.827 billion from $3.007 billion.

27 minor points

• Minor pointThird-quarter operating margin expanded to 10.5% from 10.3% a year earlier.
• Minor pointAerospace quarterly revenue rose 9.3% to $3.536 billion year over year.
• Minor pointAerospace quarterly operating earnings rose 19.3% to $513 million year over year.
• Minor pointMarine Systems quarterly revenue grew 21.1% to $4.960 billion year over year.
• Minor pointMarine Systems quarterly operating earnings increased 34.4% to $391 million year over year.
• Minor pointMarine Systems quarterly operating margin increased to 7.9% from 7.1% a year earlier.
• Minor pointCombat Systems quarterly revenue increased 6.0% to $2.386 billion year over year.
• Minor pointTechnologies quarterly revenue grew 10.8% to $3.684 billion year over year.
• Minor pointTechnologies quarterly operating earnings increased 5.8% to $346 million year over year.
• Minor pointQuarterly net interest expense fell to $45 million from $74 million a year earlier.
• Minor pointNine-month revenue increased 10.4% to $42.141 billion year over year.
• Minor pointNine-month operating earnings rose 12.9% to $4.407 billion year over year.
• Minor pointNine-month net earnings increased 14.6% to $3.514 billion year over year.
• Minor pointNine-month diluted EPS increased 13.6% to $12.83 year over year.
• Minor pointNine-month operating margin increased to 10.5% from 10.2% a year earlier.
• Minor pointAerospace nine-month revenue rose 10.9% to $10.340 billion year over year.
• Minor pointAerospace nine-month operating earnings increased 19.8% to $1.516 billion year over year.
• Minor pointAerospace nine-month operating margin increased to 14.7% from 13.6% a year earlier.
• Minor pointMarine Systems nine-month revenue increased 17.3% to $13.963 billion year over year.
• Minor pointMarine Systems nine-month operating earnings rose 26.1% to $1.049 billion year over year.
• Minor pointMarine Systems nine-month operating margin increased to 7.5% from 7.0% a year earlier.
• Minor pointCombat Systems nine-month revenue rose 3.7% to $6.959 billion year over year.
• Minor pointCombat Systems nine-month operating earnings increased 0.8% to $958 million year over year.
• Minor pointTechnologies nine-month revenue increased 6.3% to $10.879 billion year over year.
• Minor pointTechnologies nine-month operating earnings rose 3.7% to $1.024 billion year over year.
• Minor pointNine-month net interest expense fell to $163 million from $251 million a year earlier.
• Minor pointNine-month common-stock purchases totaled $604 million, versus $600 million a year earlier.

Negative

• Moderate pointQuarterly operating cash flow declined to $1.710 billion from $2.109 billion a year earlier.
• Moderate pointQuarterly free cash flow fell to $1.229 billion from $1.897 billion a year earlier.
• Moderate pointCombat Systems quarterly operating margin narrowed to 13.8% from 14.9% a year earlier.
• Minor pointQuarterly capital expenditures increased to $481 million from $212 million a year earlier.
• Minor pointCombat Systems quarterly operating earnings declined 1.5% to $330 million year over year.

8 minor points

• Minor pointTechnologies quarterly operating margin declined to 9.4% from 9.8% a year earlier.
• Minor pointQuarterly corporate operating loss widened to $53 million from $52 million a year earlier.
• Minor pointQuarterly diluted weighted-average shares increased to 273.8 million from 272.6 million a year earlier.
• Minor pointCombat Systems nine-month operating margin narrowed to 13.8% from 14.2% a year earlier.
• Minor pointTechnologies nine-month operating margin declined to 9.4% from 9.6% a year earlier.
• Minor pointNine-month corporate operating loss widened to $140 million from $130 million a year earlier.
• Minor pointNine-month diluted weighted-average shares increased to 273.8 million from 271.8 million a year earlier.
• Minor pointNine-month capital expenditures increased to $918 million from $552 million a year earlier.

Key Figures

Revenue: $14.6 billion, up 12.9% Diluted EPS: $4.49, up 15.7% Operating earnings: $1.5 billion, up 14.7% +5 more

Revenue

$14.6 billion, up 12.9%

Third quarter 2026 versus prior year

Diluted EPS

$4.49, up 15.7%

Third quarter 2026 versus prior year

Operating earnings

$1.5 billion, up 14.7%

Third quarter 2026 versus prior year

Operating margin

10.5%, up 20 basis points

Third quarter 2026 versus year-ago quarter

Cash from operating activities

$1.7 billion, 139% of net earnings

Third quarter 2026

Orders

$98.8 billion

Third quarter 2026 total across defense and aerospace segments

Backlog

$220.3 billion

At the end of the third quarter 2026

Total estimated contract value

$270.7 billion

Backlog plus estimated potential contract value

Previous Earnings Reports

5 past events · Latest: Jul 29

Same Type 5 events

1. Jul 29

   Q2 2026 earnings

   24h Move

   -3.1%

   Revenue and diluted EPS grew, and operating margin rose to 10.4%.

2. Apr 29

   Q1 2026 earnings

   24h Move

   +8.0%

   Revenue and diluted EPS increased, with orders totaling $26.6 billion.

3. Jan 28

   Q4 2025 earnings

   24h Move

   -2.7%

   Full-year revenue and diluted EPS increased, with backlog ending at $118 billion.

4. Oct 24

   Q3 2025 earnings

   24h Move

   +2.7%

   Revenue and diluted EPS grew, and operating margin expanded by 20 basis points.

5. Jul 23

   Q2 2025 earnings

   24h Move

   +6.5%

   Revenue and diluted EPS increased, with operating margin expanding to 10.0%.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

book-to-bill ratio, idiq, free cash flow, net debt

4 terms

book-to-bill ratio financial

"Book-to-bill ratio, defined as orders divided by revenue"

The book-to-bill ratio compares the value of new orders a company receives to the value of products it ships out or bills for over a certain period. If the ratio is above 1, it means the company is getting more orders than it is completing, which can indicate growth. If it's below 1, it suggests demand is slowing down.

idiq technical

"unfunded indefinite delivery, indefinite quantity (IDIQ) contracts"

An IDIQ (Indefinite Delivery/Indefinite Quantity) is a type of government procurement contract that sets terms and maximum limits for buying goods or services over a period without specifying exact delivery dates or quantities up front. For investors, an IDIQ signals a potential steady revenue stream and easier repeat business because it gives a company preferred access to future orders under agreed terms—think of it as a standing shopping account that can generate unpredictable but recurring sales.

free cash flow financial

"Free cash flow: Net cash provided by operating activities"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

View in glossary

net debt financial

"Net debt: Total debt"

Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.

View in glossary

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• Revenue $14.6 billion, up 12.9% versus prior year
• Diluted EPS $4.49, up 15.7% versus prior year
• $1.7 billion cash from operating activities, 139% of net earnings
• 6.8-to-1 book-to-bill, $220 billion backlog

RESTON, Va., Oct. 30, 2026 /PRNewswire/ -- General Dynamics (NYSE: GD) today reported third-quarter 2026 operating earnings of $1.5 billion, and $4.49 per diluted share (EPS), on revenue of $14.6 billion. Compared with the year-ago quarter, revenue increased 12.9%, operating earnings increased 14.7%, and diluted EPS increased 15.7%. Operating margin of 10.5% was a 20-basis-point expansion from the year-ago quarter.

"Our business had exceptional third quarter results, with revenue growth across all four segments, robust bookings and solid operational performance," said Phebe Novakovic, chairman and chief executive officer. "With the consistent growth in our backlog and our significant investment in our businesses over the last decade, we are poised to drive continued performance in the years to come."

Cash and Capital Deployment

Cash provided by operating activities in the quarter totaled $1.7 billion, or 139% of net earnings. During the quarter, the company paid $429 million in dividends, invested $481 million in capital expenditures, and reduced total debt by $500 million. The company ended the quarter with $7 billion in total debt and $4.4 billion in cash and equivalents on hand.

Orders and Backlog

Orders received in the quarter totaled $93.8 billion in the defense segments, driven by large orders in the Marine Systems segment for Virginia- and Columbia-class submarines, and $5 billion in the Aerospace segment, for a total of $98.8 billion. Book-to-bill ratio, defined as orders divided by revenue, was 8.5-to-1 for the quarter for the defense segments, 1.4-to-1 for the Aerospace segment, and 6.8-to-1 on a company-wide basis.

Backlog at the end of the quarter was $220.3 billion. Estimated potential contract value, representing management's estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $50.4 billion. Total estimated contract value, the sum of backlog plus estimated potential contract value, was $270.7 billion.

About General Dynamics

Headquartered in Reston, Virginia, General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapon systems and munitions; and technology products and services. General Dynamics employs more than 120,000 people worldwide and generated $52.6 billion in revenue in 2025. More information is available at www.gd.com.

WEBCAST INFORMATION: General Dynamics' financial results conference call will be held on Friday, October 30, 2026, at 9:00 a.m. EDT.  A link to the live webcast will be available at www.gd.com and will be available for replay following the call. Corresponding presentation slides will be available for download prior to the call.

This press release may contain forward-looking statements (FLS), including statements about the company's future operational and financial performance, which are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "forecasts," "scheduled," "outlook," "estimates," "should" and variations of these words and similar expressions are intended to identify FLS. In making FLS, we rely on assumptions and analyses based on our experience and perception of historical trends; current conditions and expected future developments; and other factors, estimates and judgments we consider reasonable and appropriate based on information available to us at the time. FLS are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. FLS are not guarantees of future performance and involve factors, risks and uncertainties that are difficult to predict. Actual future results and trends may differ materially from what is forecast in the FLS. All FLS speak only as of the date they were made. We do not undertake any obligation to update or publicly release revisions to FLS to reflect events, circumstances or changes in expectations after the date of this press release. Additional information regarding these factors is contained in the company's filings with the SEC, and these factors may be revised or supplemented in future SEC filings. In addition, this press release may contain some financial measures not prepared in accordance with U.S. generally accepted accounting principles (GAAP). While we believe these non-GAAP metrics provide useful information for investors, there are limitations associated with their use, and our calculations of these metrics may not be comparable to similarly titled measures of other companies. Non-GAAP metrics should not be considered in isolation from, or as a substitute for, GAAP measures. Reconciliations to comparable GAAP measures and other information relating to our non-GAAP measures are included in other filings with the SEC, which are available at investorrelations.gd.com.

EXHIBIT A CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED) DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
	Three Months Ended				Variance
	October 4, 2026		September 28, 2025		$			%
Revenue	$                     14,566		$                     12,907		$     1,659			12.9 %
Operating costs and expenses	(13,039)		(11,576)		(1,463)
Operating earnings	1,527		1,331		196			14.7 %
Other, net	4		15		(11)
Interest, net	(45)		(74)		29
Earnings before income tax	1,486		1,272		214			16.8 %
Provision for income tax, net	(257)		(213)		(44)
Net earnings	$                       1,229		$                       1,059		$        170			16.1 %
Earnings per share—basic	$                         4.55		$                         3.93		$       0.62			15.8 %
Basic weighted average shares outstanding	270.2		269.2
Earnings per share—diluted	$                         4.49		$                         3.88		$       0.61			15.7 %
Diluted weighted average shares outstanding	273.8		272.6

 

EXHIBIT B CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED) DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
	Nine Months Ended				Variance
	October 4, 2026		September 28, 2025		$			%
Revenue	$                     42,141		$                     38,171		$     3,970			10.4 %
Operating costs and expenses	(37,734)		(34,267)		(3,467)
Operating earnings	4,407		3,904		503			12.9 %
Other, net	18		51		(33)
Interest, net	(163)		(251)		88
Earnings before income tax	4,262		3,704		558			15.1 %
Provision for income tax, net	(748)		(637)		(111)
Net earnings	$                       3,514		$                       3,067		$        447			14.6 %
Earnings per share—basic	$                       13.01		$                       11.41		$       1.60			14.0 %
Basic weighted average shares outstanding	270.2		268.8
Earnings per share—diluted	$                       12.83		$                       11.29		$       1.54			13.6 %
Diluted weighted average shares outstanding	273.8		271.8

 

EXHIBIT C REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED) DOLLARS IN MILLIONS
	Three Months Ended				Variance
	October 4, 2026		September 28, 2025		$			%
Revenue:
Aerospace	$                  3,536		$                   3,234		$            302			9.3 %
Marine Systems	4,960		4,096		864			21.1 %
Combat Systems	2,386		2,252		134			6.0 %
Technologies	3,684		3,325		359			10.8 %
Total	$                14,566		$                 12,907		$         1,659			12.9 %
Operating earnings:
Aerospace	$                     513		$                      430		$              83			19.3 %
Marine Systems	391		291		100			34.4 %
Combat Systems	330		335		(5)			(1.5) %
Technologies	346		327		19			5.8 %
Corporate	(53)		(52)		(1)			(1.9) %
Total	$                  1,527		$                   1,331		$            196			14.7 %
Operating margin:
Aerospace	14.5 %		13.3 %
Marine Systems	7.9 %		7.1 %
Combat Systems	13.8 %		14.9 %
Technologies	9.4 %		9.8 %
Total	10.5 %		10.3 %

 

EXHIBIT D REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED) DOLLARS IN MILLIONS
	Nine Months Ended				Variance
	October 4, 2026		September 28, 2025		$			%
Revenue:
Aerospace	$                10,340		$                   9,322		$         1,018			10.9 %
Marine Systems	13,963		11,905		2,058			17.3 %
Combat Systems	6,959		6,711		248			3.7 %
Technologies	10,879		10,233		646			6.3 %
Total	$                42,141		$                 38,171		$         3,970			10.4 %
Operating earnings:
Aerospace	$                  1,516		$                   1,265		$            251			19.8 %
Marine Systems	1,049		832		217			26.1 %
Combat Systems	958		950		8			0.8 %
Technologies	1,024		987		37			3.7 %
Corporate	(140)		(130)		(10)			(7.7) %
Total	$                  4,407		$                   3,904		$            503			12.9 %
Operating margin:
Aerospace	14.7 %		13.6 %
Marine Systems	7.5 %		7.0 %
Combat Systems	13.8 %		14.2 %
Technologies	9.4 %		9.6 %
Total	10.5 %		10.2 %

 

EXHIBIT E CONSOLIDATED BALANCE SHEET DOLLARS IN MILLIONS
	(Unaudited)
	October 4, 2026		December 31, 2025
ASSETS
Current assets:
Cash and equivalents	$                        4,388		$                        2,333
Accounts receivable	2,529		2,406
Unbilled receivables	8,906		8,380
Inventories	9,124		9,232
Other current assets	1,926		1,897
Total current assets	26,873		24,248
Noncurrent assets:
Property, plant and equipment, net	7,853		7,525
Intangible assets, net	1,231		1,375
Goodwill	20,849		21,009
Other assets	3,399		3,092
Total noncurrent assets	33,332		33,001
Total assets	$                      60,205		$                      57,249
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt	$                           756		$                        1,006
Accounts payable	3,166		2,678
Customer advances and deposits	11,083		9,824
Other current liabilities	3,821		3,288
Total current liabilities	18,826		16,796
Noncurrent liabilities:
Long-term debt	6,260		7,007
Other liabilities	7,827		7,824
Total noncurrent liabilities	14,087		14,831
Shareholders' equity:
Common stock	482		482
Surplus	4,646		4,403
Retained earnings	46,299		44,080
Treasury stock	(23,403)		(22,860)
Accumulated other comprehensive loss	(732)		(483)
Total shareholders' equity	27,292		25,622
Total liabilities and shareholders' equity	$                      60,205		$                      57,249

 

EXHIBIT F CONSOLIDATED STATEMENT OF CASH FLOWS - (UNAUDITED) DOLLARS IN MILLIONS
	Nine Months Ended
	October 4, 2026		September 28, 2025
Cash flows from operating activities—continuing operations:
Net earnings	$                      3,514		$                      3,067
Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation of property, plant and equipment	525		490
Amortization of intangible and finance lease right-of-use assets	173		182
Equity-based compensation expense	169		146
Deferred income tax provision	335		151
(Increase) decrease in assets, net of effects of business acquisitions:
Accounts receivable	(123)		(314)
Unbilled receivables	(480)		(415)
Inventories	108		(131)
Increase (decrease) in liabilities, net of effects of business acquisitions:
Accounts payable	488		119
Customer advances and deposits	1,232		45
Other, net	(196)		219
Net cash provided by operating activities	5,745		3,559
Cash flows from investing activities:
Capital expenditures	(918)		(552)
Other, net	18		130
Net cash used by investing activities	(900)		(422)
Cash flows from financing activities:
Dividends paid	(1,263)		(1,188)
Repayment of fixed-rate notes	(1,000)		(1,500)
Purchases of common stock	(604)		(600)
Proceeds from fixed-rate notes	—		747
Other, net	87		235
Net cash used by financing activities	(2,780)		(2,306)
Net cash used by discontinued operations	(10)		(8)
Net increase in cash and equivalents	2,055		823
Cash and equivalents at beginning of period	2,333		1,697
Cash and equivalents at end of period	$                      4,388		$                      2,520

 

EXHIBIT G ADDITIONAL FINANCIAL INFORMATION - (UNAUDITED) DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
Non-GAAP Financial Measures:
	Third Quarter				Nine Months
	2026		2025		2026		2025
Free cash flow:
Net cash provided by operating activities	$                       1,710		$                  2,109		$                    5,745		$                    3,559
Capital expenditures	(481)		(212)		(918)		(552)
Free cash flow (a)	$                       1,229		$                  1,897		$                    4,827		$                    3,007
	October 4, 2026		December 31, 2025
Net debt:
Total debt	$                       7,016		$                  8,013
Less cash and equivalents	4,388		2,333
Net debt (b)	$                       2,628		$                  5,680
Supplemental Aerospace Data:
	Third Quarter				Nine Months
	2026		2025		2026		2025
Gulfstream Aircraft Deliveries (units):
Large-cabin aircraft	35		33		101		95
Mid-cabin aircraft	5		6		18		18
Total	40		39		119		113
Aerospace Book-to-Bill:
Orders (c)	$                       4,970		$                  4,053		$                  14,091		$                  10,417
Revenue	3,536		3,234		10,340		9,322
Book-to-Bill Ratio	1.4x		1.3x		1.4x		1.1x

(a)	We define free cash flow as net cash from operating activities less capital expenditures. We believe free cash flow is a useful measure for investors because it portrays our ability to generate cash from our businesses for purposes such as repaying debt, funding business  acquisitions, paying dividends and repurchasing our common stock to cover dilution. We use free cash flow to assess the quality of our earnings and as a key performance measure in evaluating management.
(b)	We define net debt as short- and long-term debt (total debt) less cash and equivalents. We believe net debt is a useful measure for investors because it reflects the borrowings that support our operations and capital deployment strategy. We use net debt as an important indicator of liquidity and financial position.
(c)	Excludes customer defaults, liquidated damages, cancellations, foreign exchange fluctuations and other backlog adjustments.

 

EXHIBIT H BACKLOG - (UNAUDITED) DOLLARS IN MILLIONS
		Funded		Unfunded		Total Backlog		Estimated Potential Contract Value*		Total Estimated Contract Value
Third Quarter 2026:
Aerospace		$            24,460		$                 925		$            25,385		$                     1,374		$               26,759
Marine Systems		47,289		99,576		146,865		7,644		154,509
Combat Systems		26,983		1,701		28,684		9,588		38,272
Technologies		13,064		6,341		19,405		31,724		51,129
Total		$          111,796		$          108,543		$          220,339		$                   50,330		$             270,669
Second Quarter 2026:
Aerospace		$            22,992		$                 985		$            23,977		$                     1,170		$               25,147
Marine Systems		42,356		22,826		65,182		7,442		72,624
Combat Systems		27,507		1,843		29,350		10,847		40,197
Technologies		11,256		6,733		17,989		30,945		48,934
Total		$          104,111		$            32,387		$          136,498		$                   50,404		$             186,902
Third Quarter 2025:
Aerospace		$            19,476		$              1,131		$            20,607		$                     1,147		$               21,754
Marine Systems		38,757		14,854		53,611		14,839		68,450
Combat Systems		17,232		1,470		18,702		9,553		28,255
Technologies		10,269		6,668		16,937		32,341		49,278
Total		$            85,734		$            24,123		$          109,857		$                   57,880		$             167,737

*

The estimated potential contract value includes work awarded on unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options associated with existing firm contracts, including options and other agreements with existing customers to purchase new aircraft and aircraft services. We recognize options in backlog when the customer exercises the option and establishes a firm order. For IDIQ contracts, we evaluate the amount of funding we expect to receive and include this amount in our estimated potential contract value. The actual amount of funding received in the future may be higher or lower than our estimate of potential contract value.

 

EXHIBIT H-1

BACKLOG - (UNAUDITED)

DOLLARS IN MILLIONS

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SOURCE General Dynamics

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were General Dynamics' third-quarter 2026 revenue and earnings?

General Dynamics reported $14.6 billion in revenue and $4.49 in diluted EPS, up 12.9% and 15.7%, respectively, year over year. Net earnings increased 16.1% to $1.229 billion, while operating earnings rose 14.7% to $1.527 billion.

How large were General Dynamics' third-quarter 2026 orders and backlog?

General Dynamics received $98.8 billion in orders and ended the quarter with $220.3 billion in backlog. Defense orders totaled $93.8 billion, driven by Virginia- and Columbia-class submarines, while Aerospace orders totaled $5 billion. Company-wide orders were 6.8 times revenue.

What does General Dynamics' estimated potential contract value include?

The $50.4 billion estimated potential contract value represents management's estimate of additional value in unfunded indefinite delivery, indefinite quantity contracts and unexercised options. Combined with backlog, it brings total estimated contract value to $270.7 billion.