Filing Flows › General Dynamics (GD) › Q1 2025
General Dynamics (GD) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 23, 2025
General Dynamics (GD) reported revenue of $12.2B for the first quarter 2025 (Q1 2025), +14% from a year earlier and -8% from the quarter before. Operating margin was 10.4%, net earnings $994M (8.1% of revenue).
General Dynamics, Q1 2025: revenue $12.2B (+14% year over year), operating margin 10.4%, net earnings $994M, operating cash flow −$148M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.2B | -8% | +14% |
| Operating profit | $1.3B | -11% | +22% |
| Net earnings | $994M | -13% | +24% |
| Operating cash flow | −$148M | — | — |
What changed
Revenue was $12.2B in Q1 2025, up 14% year over year and down 8% from the previous quarter. Marine Systems was the largest line at 29% of revenue. Aerospace added $0.94B year over year (up 45%), 63% of the total change.
Operating profit was $1.3B, a 10.4% margin (up 0.7 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, above the 10% margin then. Total costs grew 13% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $1.0B, up 24% year over year. The effective tax rate was 17.2%.
Operating cash flow was −$0.15B. Non-cash charges added back $0.22B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $1.4B. Capital expenditures of $0.14B exceeded it, leaving free cash flow of −$0.29B.
Questions
What was General Dynamics' revenue in the first quarter 2025?
General Dynamics (GD) reported revenue of $12.2B for the first quarter 2025 (Q1 2025), +14% from a year earlier and -8% from the quarter before.
Was General Dynamics profitable in the first quarter 2025?
Operating profit was $1.3B (10.4% of revenue) and net earnings $994M.
Source: General Dynamics 10-Q on SEC EDGAR.