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General Dynamics (GD)
NYSE:GD
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
3.68Last Year’s EPS
3.66Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted strong top-line growth, record backlog and contract value, robust order intake (notably at Combat and Marine), excellent cash generation and clear 2026 guidance. Key operational wins include significant productivity gains at shipyards and strong Gulfstream demand driven by new models. Offsetting items include near-term aerospace margin headwinds (G600), tariff impacts, Technologies segment softness, supply-chain bottlenecks and a substantial planned increase in capex with a refinancing assumption. Overall the positives — durable backlog, strong cash flow, and clear guidance — materially outweigh the near-term operational and cost challenges.Company Guidance
Quarterly Financial Results
Q4 revenue of $14.307B, operating earnings of $1.152B, net earnings of $1.143B and diluted EPS of $4.17. Sequentially, revenue beat prior quarter by 11.4%, operating earnings by 9.1%, net earnings by 7.9% and EPS improved by $0.29.
Strong Full-Year Growth
2025 full-year revenue up 10.1%, operating earnings up 11.7%, net earnings up 11.3%, and diluted EPS up 13.4% versus 2024.
Record Backlog and Contract Value
Finished 2025 with a record total backlog of $118B (up 30% YoY) and total estimated contract value of $179B (up 24% YoY); company-wide book-to-bill for 2025 was 1.5x.
Marine Systems Momentum
Marine Q4 revenue $4.8B, up 21.7% YoY; operating earnings $345M, up 72.5% YoY with a 210 bps improvement in operating margin. Full-year Marine revenue $16.7B (+16.6%) and earnings $1.18B (+25.9%). Electric Boat submarine tonnage up 13% YoY.
Combat Systems Order Strength
Combat Q4 revenue $2.5B (+5.8% YoY) and operating earnings $381M (+7% YoY); Q4 book-to-bill 4.3x and full-year book-to-bill 2.1x. Backlog of $27.2B and TEV ~ $42B with major international awards (e.g., >$4B Germany Eagle vehicles).
Aerospace Demand and Deliveries
Aerospace full-year revenue $13.1B (+16.5% YoY) and earnings $1.75B (+19.3% YoY). Delivered 158 new aircraft in 2025 (22 more than prior year) and Q4 Aerospace book-to-bill 1.3x (Gulfstream 1.4x), with strong demand for G700/G800.
Cash Generation and Free Cash Flow
Operating cash flow of $5.1B for 2025 (Q4 operating cash flow $1.6B). Free cash flow ~ $4B representing a 94% cash conversion rate (above initial guidance); net debt decreased to $5.7B (down $1.4B YoY) and year-end cash $2.3B.
Clear 2026 Financial Guidance
Company guidance for 2026: revenue $54.3–54.8B, operating margin ~10.4% (up 20 bps), operating earnings ~ $5.7B, and EPS $16.10–16.20. Segment outlooks provided (Aerospace ~$13.6B, Combat ~$9.6–9.7B, Marine ~$17.3–17.7B, Technologies ~$13.8B).
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 |
|---|---|---|---|
Jan 28, 2026 | $366.62 | $356.68 | -2.71% |
Oct 24, 2025 | $340.11 | $349.34 | +2.71% |
Jul 24, 2025 | $314.27 | $311.59 | -0.85% |
Apr 23, 2025 | $271.09 | $262.15 | -3.30% |
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 Apr 29, 2026, Before Open (Confirmed).
What is General Dynamics (GD) earnings time?
General Dynamics (GD) earnings time is at Apr 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 (Q1) is 3.68.
