General Dynamics (GD) Q3 2026 Earnings
How Did GD Stock React to Q3 2026 Earnings?
S&P 500 over the same 30 days: +5.47%.
Did GD Beat Earnings? Q3 2026 Results
Yes. General Dynamics reported Q3 2026 earnings of $4.24 a share on Jul 29, 2026, beating the $3.97 consensus estimate by 6.9%. Revenue was $14.1B against a $13.5B estimate.
General Dynamics delivered a strong third quarter for fiscal 2026, posting earnings per share of $4.24 against a consensus estimate of $3.97, a beat of 6.85%, marking the fifth consecutive quarter the defense and aerospace giant has cleared analyst expectations. Revenue climbed to $14.09 billion, up 8.1% year over year and ahead of the $13.54 billion consensus by 4.06%, as contributions across all four business segments drove broad-based growth. The standout catalyst was the Aerospace division, where 41 Gulfstream deliveries and a 1.5x book-to-bill ratio on $5.28 billion in orders signaled resilient demand in business aviation and helped push segment margins to 14.5% from 13.2% a year ago. Marine Systems also contributed meaningfully, with double-digit revenue growth of 10.4% and improving execution efficiency. With a company-wide backlog reaching $136.50 billion and total estimated contract value of $186.90 billion, General Dynamics appears well positioned to sustain its momentum, and management's continued investments to expand production capacity reinforce confidence in the pipeline ahead. The stock recently hit a 52-week high, raising the question of whether the underlying fundamentals can support further appreciation.
- Double-digit revenue growth and margin expansion in Aerospace and Marine Systems
- Gulfstream delivered 41 aircraft (35 large-cabin, 6 mid-cabin), up from 38 a year ago
- Operating margin expanded 40 basis points to 10.4% company-wide
- Strong operating cash flow at 162% of net earnings
- Net interest expense declined to $49 million from $88 million year-over-year
- Aerospace operating margin improved to 14.5% from 13.2%
- Marine Systems operating margin improved to 7.3% from 6.9%
“Our businesses delivered solid results in the quarter, with revenue growth across all four segments – including double-digit increases in revenue and noteworthy margin expansion in Aerospace and Marine Systems – reflecting our ongoing efforts to increase the pace of execution and deliver on our backlog.”
General Dynamics CEO, on the earnings call
What Is General Dynamics's Outlook?
The company indicated it is well positioned to support customer needs and is making significant investments to increase output to meet strong and growing demand. The 1.4x company-wide book-to-bill ratio and total estimated contract value of $186.9 billion suggest a robust pipeline of future work.
GD YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $14.1B | $13.0B | +8.1% |
| Operating Income | $1.5B | $1.3B | +11.9% |
| Net Income | $1.2B | $1.0B | +14.4% |
GD Revenue by Segment
When Does General Dynamics Report Next?
Figures from SEC filings and company reports. Not investment advice.