Companies /Industrials
General Dynamics Corp
NYSE: GD Aerospace & Defense
$331.27
▲ $2.95 (+0.90%) today
Markets closed · 12:15am ET

General Dynamics (GD) Q1 2026 Earnings

Reported Apr 29, 2026, 7:58am ET · SEC source
$4.10
Beat +11.02%
EPS · est. $3.69
$13.5B
Beat +6.09%
Revenue · est. $12.7B
−6.5%
Trailing market
GD vs S&P since report
6 quarters
Consecutive EPS beats

How Did GD Stock React to Q1 2026 Earnings?

% change · around the report
−6%−3%0+3%Apr 29Apr 30report 7:58am ETearnings+0.8%+1.4%
−6%−3%0+3%Apr 29Apr 30earnings+0.8%+1.4%
GD +1.4%S&P 500 +0.8%
−6%−3%0+3%Apr 29Apr 30report 7:58am ETearnings+1.2%+1.4%
−6%−3%0+3%Apr 29Apr 30earnings+1.2%+1.4%
GD +1.4%NASDAQ +1.2%
−8%−4%0+4%Apr 28May 6report 7:58am ETearnings+3.1%+3.3%
−8%−4%0+4%Apr 28May 6earnings+3.1%+3.3%
GD +3.3%S&P 500 +3.1%
−8%−4%0+4%Apr 28May 6report 7:58am ETearnings+5.4%+3.3%
−8%−4%0+4%Apr 28May 6earnings+5.4%+3.3%
GD +3.3%NASDAQ +5.4%
+7.99%
Day of report
+1.64%
Next session
+2.52%
One week
+0.14%
30 days

S&P 500 over the same 30 days: +6.60%.

Did GD Beat Earnings? Q1 2026 Results

Yes. General Dynamics reported Q1 2026 earnings of $4.10 a share on Apr 29, 2026, beating the $3.69 consensus estimate by 11.0%. Revenue was $13.5B against a $12.7B estimate.

General Dynamics kicked off 2026 with a strong first quarter, posting diluted EPS of $4.10 and revenue of $13.48 billion, both up 12% and 10.3% respectively from the year-ago period, extending the defense and aerospace giant's streak of beating consensus EPS estimates to four consecutive quarters. The single most compelling storyline was a dramatic swing in cash generation, with operating cash flow of $2.15 billion representing 192% of net earnings, compared to negative $148 million in Q1 2025, a shift that helped drive net debt down to $4.36 billion from $5.68 billion and pushed the company's cash balance to $3.65 billion. Marine Systems led segment performance with revenue up 21% and operating earnings up 26.4%, while robust order activity produced a consolidated 2-to-1 book-to-bill ratio and lifted total estimated contract value to $188.44 billion, providing substantial revenue visibility heading into the rest of the year. CEO Phebe Novakovic characterized the results as a "very good start," signaling confidence in sustaining that momentum through 2026.

Key Takeaways
  • Marine Systems revenue grew 21.0% YoY, the fastest-growing segment
  • Aerospace operating margin expanded to 15.0% from 14.3%
  • Marine Systems operating earnings grew 26.4% YoY
  • Operating cash flow of $2.2 billion represented 192% of net earnings
  • Strong order activity with 2-to-1 consolidated book-to-bill ratio
  • Gulfstream delivered 38 aircraft vs. 36 in the year-ago quarter
  • Aerospace book-to-bill improved to 1.2x from 0.8x in Q1 2025

“Our businesses had a very good start to the year, delivering strong operating results and excellent cash conversion.”

General Dynamics CEO, on the earnings call

What Was General Dynamics's Outlook in Q1 2026?

CEO Phebe Novakovic stated the company is 'positioned well to drive additional performance throughout the year,' signaling confidence in sustained growth across the business. Strong order activity with a 2-to-1 book-to-bill ratio and total estimated contract value of $188.4 billion provide significant revenue visibility.

GD YoY Financials

Revenue$13.5B
Operating Income$1.4B
Net Income$1.1B

GD Revenue by Segment

Marine Systems$4.3B+21.0%
Aerospace$3.3B+8.4%
Technologies$3.6B+4.2%
Combat Systems$2.3B+4.9%

Figures from SEC filings and company reports. Not investment advice.