General Dynamics Corporation reported its financial results for the third quarter of 2026 on October 30, 2026. The company announced revenue of $14.6 billion for the quarter ended October 4, 2026, which represents an increase of 12.9% compared to the same period in the prior year.
Diluted earnings per share (EPS) for the quarter were $4.49, a 15.7% increase year-over-year. Operating earnings for the period totaled $1.527 billion, with an operating margin of 10.5%, a 20-basis-point expansion from the previous year.
Revenue growth was reported across all four of the company’s business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Marine Systems segment saw the largest revenue increase of 21.1%, while Combat Systems revenue grew by 6.0%.
General Dynamics reported a company-wide book-to-bill ratio of 6.8-to-1 for the quarter. Orders received totaled $98.8 billion, driven by large orders in the Marine Systems segment for Virginia- and Columbia-class submarines, as well as $5 billion in orders for the Aerospace segment. The backlog at the end of the quarter was $220.3 billion, a record high for the company.
Cash flow from operating activities was $1.7 billion, or 139% of net earnings. During the quarter, the company paid $429 million in dividends and invested $481 million in capital expenditures. The company also reduced total debt by $500 million, ending the period with $7 billion in total debt and $4.4 billion in cash and equivalents.
