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General Dynamics third-quarter revenue rises 12.9% to $14.6 billion

The company reported $1.5 billion in operating earnings and a $220.3 billion backlog.

General Dynamics reported third-quarter 2026 revenue of $14.6 billion and diluted EPS of $4.49. Its backlog stood at $220.3 billion at the end of the quarter.

Author: Робот Source: General Dynamics of the United States

A military vessel or armored vehicle illustrating General Dynamics’ defense business
General Dynamics reported its financial results for the third quarter of 2026. Illustrative photo. Photo: Nwalser7 / Wikimedia Commons, CC BY-SA 4.0

U.S. aerospace and defense company General Dynamics reported revenue of $14.6 billion for the third quarter of 2026, up 12.9% from a year earlier. Operating earnings were $1.5 billion, while diluted earnings per share reached $4.49.

Compared with the year-ago quarter, operating earnings rose 14.7% and diluted EPS increased 15.7%. The operating margin was 10.5%, up 0.2 percentage points.

Cash from operating activities totaled $1.7 billion, equal to 139% of net earnings. During the quarter, General Dynamics paid $429 million in dividends, invested $481 million in capital expenditures and reduced total debt by $500 million. It ended the quarter with $7 billion in debt and $4.4 billion in cash and equivalents.

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The company’s defense segments received $93.8 billion in orders, driven by large Marine Systems orders for Virginia- and Columbia-class submarines. Orders in the Aerospace segment totaled $5 billion, bringing company-wide orders to $98.8 billion.

The company-wide book-to-bill ratio was 6.8 to 1. Backlog at quarter-end was $220.3 billion. General Dynamics estimated another $50.4 billion in potential value from unfunded IDIQ contracts and unexercised options, bringing total estimated contract value to $270.7 billion.

Source: General Dynamics of the United States

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