General Dynamics earnings date and guidance
The next results are expected on October 30, 2026. Watch whether improved production survives heavier second-half demands on cash.
What has General Dynamics guided for 2026?
The improvement does not depend on promising many more Gulfstream aircraft. The annual delivery target remains unchanged, so GD must earn better economics from the aircraft and submarines it delivers. Management has raised its 2026 EPS outlook twice; the test is whether the increases reflect repeatable gains such as fewer labor hours and more reliable suppliers.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| EPS, diluted | Year to Dec 2026 | 16.80 | 16.90 | Jul 29, 2026 |
| Aerospace, Operating Margin | Year to Dec 2026 | 14.7% | 14.7% | Jul 29, 2026 |
| Marine Systems, Operating Margin | Year to Dec 2026 | 7.4% | 7.4% | Jul 29, 2026 |
| Consolidated, Revenue | Year to Dec 2026 | 55,700 | 55,700 | Jul 29, 2026 |
| Gulfstream aircraft deliveries (in units) | Year to Dec 2026 | 160 | 160 | Jul 29, 2026 |
| Free cash flow conversion | Year to Dec 2026 |
What this means. The blank capital expenditures and free cash flow conversion rows mean the company did not publish those figures, not that they are zero.
Did General Dynamics keep its past promises?
The results support the awards more convincingly than general praise. GD forecast diluted earnings per share of US$14.75–14.85 in January 2025 and delivered US$15.45. Three-year return on invested capital reached 13.2% against a 12.6% goal, producing a performance-unit payout of 128% of target.
What do General Dynamics' last eight quarters show?
Revenue and operating income both rose from the comparable quarter, while gross and operating margins expanded. Net income and diluted EPS also increased, so the improvement was not merely a function of selling more products.
| Jul 2026 | Apr 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14,094 | 13,481 | 14,379 | 12,907 | 13,041 | 12,223 | 13,338 | 11,671 |
| Gross margin | 15.5% | 15.9% | 14.9% | 15.2% | 14.9% | 15.5% | 15.6% | 15.6% |
| Operating income | 1,460 | 1,420 | 1,452 | 1,331 | 1,305 | 1,268 | 1,423 | 1,181 |
| Net income | 1,160 | 1,125 | 1,143 | 1,059 | 1,014 | 994 | 1,148 | 930 |
| EPS, diluted | 4.24 | 4.10 | 4.17 | 3.88 | 3.74 | 3.66 | 4.15 | 3.35 |
What this means. Diluted earnings per share assumes that possible new shares are created, so the profit is spread across more shares.
What should I watch in General Dynamics' next results?
The October 30 earnings call should show whether improved production survives the heavier second-half demands on cash.
Marine revenue could moderate because materials received earlier are being installed later. That would not automatically mean production weakened; the evidence should be construction milestones, installation progress, margins and cash conversion.