General Dynamics Corporation (GD) Earnings Call Transcripts

General Dynamics Corporation's Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, General Dynamics reported a strong performance with revenue of $14.1 billion and earnings per diluted share of $4.24, exceeding consensus estimates by $0.28. This represents an 8.1% year-over-year revenue increase and a 13.4% rise in EPS. Management raised full-year EPS guidance to a range of $16.80 to $16.90, signaling confidence in continued growth driven by robust order activity and backlog improvements across all segments.

Reported metrics

Guidance from management

Management raised the full-year EPS guidance to $16.80 to $16.90, reflecting confidence in continued growth driven by strong order activity and backlog improvements across all segments.

What management said

So I want to repeat what I said last quarter. because performance this quarter further demonstrates the strength and breadth of the combat portfolio, particularly with international vehicles as well as our munitions group. . It's encouraging during this period of transition and recapitalization to next-generation platforms for our U.S. land force customers that the overall group continues to provide a healthy growth...

So finally, technologies. This group is also experiencing growth in revenue and earnings, albeit not at the pace experienced by aerospace and marine systems. Revenue of $3.6 billion is an increase of 4.1% over the second quarter of 2025. Both businesses contributed respectable growth, but Mission Systems led the way. . Operating earnings of $339 million or up 2.1% over the year ago quarter. Operating margin decrease...

What analysts pressed on

Analysts expressed concerns about the potential deceleration in marine segment growth and the impact of supply chain challenges on production rates. There were also inquiries regarding the budget process for fiscal '27 and its implications for defense spending.

Main topics on the call

• Strong Revenue Growth — General Dynamics achieved revenue of $14.1 billion, an increase of 8.1% year-over-year. Management noted, "This quarter is even better in almost all respects," highlighting the company's strong performance across segment...
• Improved Operating Earnings — Operating earnings reached $1.460 billion, up nearly 12% from the previous year. The operating margin improved to 10.4%, a 40 basis point increase year-over-year, indicating effective cost management and operational effi...
• Record Backlog — The company reported a record backlog of $136.5 billion, up 32% from the prior year. This growth was driven by strong order activity, with a book-to-bill ratio of 1.4:1, suggesting a healthy demand outlook.
• Robust Cash Flow Generation — General Dynamics generated $1.9 billion in operating cash flow for the quarter, contributing to a total of over $4 billion in the first half of 2026. The free cash flow conversion rate was reported at 142%, showcasing st...

Read the full General Dynamics Corporation transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 34 General Dynamics Corporation earnings call transcripts on record, spanning January 29, 2020 to July 29, 2026. Based on this history, General Dynamics Corporation reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

GD

Exchange

NYSE

Country

US

Sector

Industrials

Industry

Aerospace and Defense

Calls on record

34

First call

January 29, 2020

Most recent

July 29, 2026

Reporting cadence

quarterly