TSX:7012 5 January 2026

April 29, 2026, 8:48 AM EDT. General Dynamics (NYSE:GD) reported strong first-quarter results for calendar year 2026, with revenue of $13.48 billion, beating analyst estimates by 5.9%. The aerospace and defense firm posted a GAAP earnings per share (EPS) of $4.10, 11% above consensus. Adjusted EBITDA reached $1.59 billion, surpassing forecasts. The company's backlog climbed 47.5% year-on-year to $130.8 billion, signaling robust demand despite potential capacity constraints. Free cash flow swung positively to $1.95 billion from a negative figure last year. CEO Phebe Novakovic highlighted solid operating results and cash conversion. While long-term growth averaged 6.9% annually over five years, recent two-year revenue growth accelerated to 11.7%. Analysts project a more modest 3% revenue increase in the next 12 months, indicating possible near-term demand challenges.