General Dynamics Q3 Revenue Rises 12.9% as Backlog Hits $220.3B
RESTON – October 30, 2026 -- General Dynamics booked $98.8 billion in orders in the third quarter of 2026, a company-wide book-to-bill ratio of 6.8-to-1. Backlog rose to $220.3 billion, while revenue grew 12.9% year over year to $14.6 billion.
Earnings and margin rise across all four segments
Operating earnings reached $1.5 billion, up 14.7% from the year-ago quarter. Diluted earnings per share rose 15.7% to $4.49. Operating margin was 10.5%, a 20-basis-point expansion. Revenue grew in all four segments.
Chairman and CEO Phebe Novakovic called the results "exceptional" and cited consistent backlog growth and a decade of heavy investment in the businesses as the basis for continued performance.
Submarine awards lift defense orders to $93.8 billion
Defense segments received $93.8 billion in orders, driven by large Marine Systems awards for Virginia- and Columbia-class submarines. The defense book-to-bill ratio was 8.5-to-1.