General Dynamics 8-K

PositiveEarnings

Aerospace and Marine Systems margin gains lifted operating earnings as all four segments grew; orders outpaced revenue, adding to backlog.

Filed 2026-07-29 08:01 ET

Summary

Q2 2026 results. Revenue rose 8.1% Y/Y and diluted EPS rose 13.4%; growth across all four segments, alongside higher Aerospace and Marine Systems margins, supported the increase in operating earnings. Orders exceeded revenue, adding to a substantial backlog.

Key Figures

Metric Q2 2026 Q2 2025 Y/Y
Revenue $14.1B $13.0B 8.1%
Operating earnings $1.46B $1.31B 11.9%
Net earnings $1.16B $1.01B 14.4%
Diluted EPS $4.24 $3.74 13.4%
Operating cash flow $1.88B $1.60B 17.6%
Free cash flow (non-GAAP) $1.65B $1.40B 17.6%
  • Aerospace revenue grew 15.1% Y/Y and operating earnings 26.6%; Marine Systems revenue grew 10.4% and operating earnings 17.5%. Company operating margin expanded 40 bp to 10.4%.
  • Orders totaled $20.0B, including $14.7B in defense and $5.3B in Aerospace; company-wide book-to-bill was 1.4x. Backlog was $136.5B, with $50.4B in estimated potential contract value and $186.9B in total estimated contract value.
  • Cash and equivalents were $4.33B and total debt was $7.52B, for $3.18B of net debt. The company reduced total debt by $498M during the quarter and paid $429M in dividends.

Guidance

No guidance in this filing.

Investor Takeaways

  • Backlog conversion and order activity are key to watch in coming quarters; continued orders above revenue would support the reported demand outlook.

The summary is written by an AI model reading the filing.

Model 005 · prompt 01d34d48e3

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