General Dynamics (GD)
NYSE:GD
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
3.9Last Year’s EPS
3.74Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial quarter: double-digit revenue and earnings growth, an earnings beat, exceptional cash generation, robust order intake and a materially larger backlog, plus an upward EPS guidance revision. Challenges noted are mostly execution- and timing-related (supply-chain single-source risks, regional order slowdowns tied to the Middle East conflict, and 2026 note maturities), but management described clear mitigation actions and ongoing investments. On balance, the positives—scaleable backlog, strong cash flow, margin expansion in key areas and raised guidance—outweigh the manageable risks cited.Company Guidance
Strong Quarterly Financial Results
Reported EPS $4.10, revenue $13.5B, operating earnings $1.420B and net earnings $1.125B. Year-over-year revenue +10.3%, operating earnings +12%, net earnings +13.2%, and EPS up $0.44 (12%). Company beat consensus EPS by $0.43.
Improved Operating Margin
Company-wide operating margin was 10.5%, a 10 basis point improvement versus the year-ago quarter, contributing to outsized earnings growth.
Exceptional Cash Generation
Operating cash flow of $2.2B; free cash flow just shy of $2B after $203M CapEx. Cash conversion rate for the quarter was 174%; ended quarter with $3.7B cash and net debt $4.4B (net debt down $1.3B QoQ).
Record Order Intake and Backlog Expansion
Orders > $26B in the quarter producing a book-to-bill of 2:1. Total backlog reached $131B (up 48% YoY and 11% QoQ); total estimated contract value $188B (up 33% YoY).
Raised Full-Year EPS Guidance
Updated 2026 EPS guidance to $16.45–$16.55 from prior $16.10–$16.20 (an increase consistent with management commentary, roughly a ~2% midpoint raise), reflecting strong start to the year.
Aerospace Operational Strength and Margin Expansion
Aerospace revenue $3.3B (+8.4% YoY) with operating earnings $493M and 15% operating margin (70 bps improvement). Delivered 38 aircraft—the highest Q1 deliveries in Gulfstream history—and saw durable productivity improvements on G700/G800, with particularly strong G800 gross margins.
Marine Systems Throughput and Profitability Gains
Marine revenue grew 21% and operating earnings improved 26.4% driven by Columbia and Virginia class programs and higher repair volumes. Electric Boat earned hours +29% YoY and sequence-critical material receipts +52% YoY, indicating improved cadence and productivity.
Combat Systems Growth and Solid Margins
Combat Systems revenue $2.28B (+~5% YoY) and earnings $310M (+6.5% YoY) with margins of 13.6% (up 20 bps). Trailing 12-month book-to-bill ~2.1x driven by demand from U.S. allies and growth in munitions and tactical systems.
Mission Systems and GDIT Momentum
Technologies revenue $3.6B (+4.2% YoY) with operating earnings $339M (+3.4% YoY). Mission Systems up ~11.7% and posted a 50 bps margin expansion; GDIT backlog up ~5% vs year-end 2025 and strong demand for AI/cyber capabilities. Segment book-to-bill 1.3x for the quarter.
Planned and Disciplined Capital Allocation
Quarterly CapEx rose >40% to $203M (about 1.5% of sales in Q1) with full-year CapEx expected 3.5–4% of sales as investments accelerate (notably in shipyards). Returned capital via dividends (~$400M) and modest repurchases (~$200M to cover dilution).
GD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $313.68 | $338.73 | +7.99% |
Jan 28, 2026 | $364.92 | $355.03 | -2.71% |
Oct 24, 2025 | $338.54 | $347.73 | +2.71% |
Jul 24, 2025 | $312.82 | $310.15 | -0.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does General Dynamics (GD) report earnings?
General Dynamics (GD) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is General Dynamics (GD) earnings time?
General Dynamics (GD) earnings time is at Jul 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GD EPS forecast?
GD EPS forecast for the fiscal quarter 2026 (Q2) is 3.9.
