General Dynamics Reports Second-Quarter 2026 Financial Results

General Dynamics announced its financial results for the second quarter ended July 5, 2026. The company reported revenue of $14.1 billion, an increase of 8.1% compared to the prior year, and diluted earnings per share (EPS) of $4.24, up 13.4%. Operating earnings were $1.5 billion, an 11.9% increase year-over-year, with an operating margin of 10.4%, a 40-basis-point expansion. The company generated $1.9 billion in cash from operating activities, representing 162% of net earnings. Orders in the quarter totaled $20 billion, resulting in a company-wide book-to-bill ratio of 1.4-to-1. The total backlog at the end of the quarter was $136.5 billion, with an estimated potential contract value of $50.4 billion, bringing the total estimated contract value to $186.9 billion. All four business segments, Aerospace, Marine Systems, Combat Systems, and Technologies, contributed to the revenue growth.