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
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
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