Filing Flows › General Dynamics (GD) › Q1 2026
General Dynamics (GD) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
General Dynamics (GD) reported revenue of $13.5B for the first quarter 2026 (Q1 2026), +10% from a year earlier and -6% from the quarter before. Operating margin was 10.5%, net earnings $1.1B (8.3% of revenue).
General Dynamics, Q1 2026: revenue $13.5B (+10% year over year), operating margin 10.5%, net earnings $1.1B, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.5B | -6% | +10% |
| Operating profit | $1.4B | -2% | +12% |
| Net earnings | $1.1B | -2% | +13% |
| Operating cash flow | $2.2B | +38% | — |
| Free cash flow | $2.0B | +105% | — |
What changed
Revenue was $13.5B in Q1 2026, up 10% year over year and down 6% from the previous quarter. Marine Systems was the largest line at 32% of revenue. Marine Systems added $0.75B year over year (up 21%), 60% of the total change.
Operating profit was $1.4B, a 10.5% margin (up 0.2 points year over year). Of the extra revenue versus Q1 2025, 12% reached operating profit, above the 10% margin then. Total costs grew 10% against revenue growth of 10%. The fastest-growing cost line was General & admin (+16%). Net earnings were $1.1B, up 13% year over year. The effective tax rate was 17.8%.
Operating cash flow was $2.2B, 192% of net earnings. Non-cash charges added back $0.23B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.76B. Capital expenditures of $0.20B left free cash flow of $2.0B.
Questions
What was General Dynamics' revenue in the first quarter 2026?
General Dynamics (GD) reported revenue of $13.5B for the first quarter 2026 (Q1 2026), +10% from a year earlier and -6% from the quarter before.
Was General Dynamics profitable in the first quarter 2026?
Operating profit was $1.4B (10.5% of revenue) and net earnings $1.1B.
Source: General Dynamics 10-Q on SEC EDGAR.