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Sentiment · FY2026 Q2
Revenue grew 10.3% with EPS up 12% as all four segments delivered growth, led by Marine throughput acceleration and Aerospace margin expansion on G800 performance. Free cash flow reached nearly $2 billion with a 174% conversion rate, and backlog continued building on European defense and U.S. submarine demand. Management raised FY2026 EPS guidance to $16.45-$16.55, a 2.2% midpoint increase reflecting the strong Q1 beat.
Demand | Product Launch | Margin | Regulation Policy | Supply Chain | Capex Investment | Geographic Expansion | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 2 | 4 | 3 | 4 | 5 | 2 | 2 | 2 |
| 2025Q1 | 10 | 5 | 4 | 11 | 2 | 3 | 4 | 4 |
| 2025Q2 | 4 | 5 | 8 | 2 | 1 | 3 | ||
| 2025Q3 | 4 | 7 | 3 | 5 | 3 | 3 | 3 | |
| 2025Q4 | 9 | 7 | 7 | 3 | 3 | 6 | 3 | 1 |
| 2026Q1 | 5 | 5 | 2 | 2 | 8 | 4 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 2 | 10 | 4 | 4 | 9 | 5 |
| Product Launch | 4 | 5 | 5 | 7 | 7 | 5 |
| Margin | 3 | 4 | 8 | 3 | 7 | 2 |
| Regulation Policy | 4 | 11 | 2 | 5 | 3 | 2 |
| Supply Chain | 5 | 2 | 1 | 3 | 3 | 8 |
| Capex Investment | 2 | 3 | 3 | 3 | 6 | 4 |
| Geographic Expansion | 2 | 4 | 3 | 3 | ||
| Trade Tariffs | 2 | 4 | 1 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $13.34B | +14.3% | $4.15 | +14.0% | 10.7% | 8.6% | $1.80B |
| FY2025 Q1 | $12.22B | +13.9% | $3.66 | +27.1% | 10.4% | 8.1% | $-290M |
| FY2025 Q2 | $13.04B | +8.9% | $3.74 | +14.7% | 10.0% | 7.8% | $1.40B |
| FY2025 Q3 | $12.91B | +10.6% | $3.89 | +16.1% | 10.3% | 8.2% | $1.90B |
| FY2025 Q4 | $14.38B | +7.8% | $4.17 | +0.5% | 10.1% | 7.9% | $952M |
| FY2026 Q1 | $13.48B | +10.3% | $4.10 | +12.0% | 10.5% | 8.3% | $1.95B |
| FY2026 Q2 | $14.09B | +8.1% | $4.25 | +13.6% | 10.4% | 8.2% | $1.65B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Myles Walton | Wolfe Research | 14 (7%) |
| Seth Seifman | JPMorgan | 13 (23%) |
| Sheila Kahyaoglu | Jefferies |
| Doug Harned | Bernstein | 12 (0%) |
| Ron Epstein | Bank of America | 11 (0%) |
| Rob Stallard | Vertical Research Partners | 10 (0%) |
| Gautam Khanna | TD Cowen | 10 (30%) |
| David Strauss | Wells Fargo | 9 (11%) |
| Scott Deuschle | Deutsche Bank | 8 (13%) |
| Kristine Liwag | Morgan Stanley | 7 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wolfe Research | 1 | 14 (7%) |
| JPMorgan | 1 | 13 (23%) |
| Jefferies | 1 | 12 (0%) |
| Bernstein | 1 | 12 (0%) |
| Bank of America | 2 | 12 (0%) |
| Vertical Research Partners | 1 | 10 (0%) |
| TD Cowen | 1 | 10 (30%) |
| Citigroup | 2 | 9 (11%) |
What GD and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Thirdly, General Dynamics partnership with us is another good sign as far as SRM”
Lockheed is teaming with General Dynamics on solid rocket motors, a positive signal for GD's munitions/SRM capacity expansion.
“Two business jet OEMs have called out supply chain issues, Honeywell more publicly.”
An analyst notes Honeywell has publicly flagged supply-chain issues affecting business-jet production, a negative read-through for Honeywell as a key aerospace systems supplier.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
GD General Dynamics | 8 | +10.3% | |
| AXON Axon Enterprise Inc. | 10 | +33.8% | |
| BA The Boeing Company | 7 | +14.0% | |
| GE GE Aerospace | 7 | +24.7% | |
| HII Huntington Ingalls Industries | 6 | +13.3% | |
| LHX L3Harris | 8 | +11.9% | |
| LMT Lockheed Martin | 4 | +0.3% | |
| NOC Northrop Grumman | 6 | +4.4% | |
| RKLB Rocket Lab USA, Inc. | 8 | +63.5% | |
| RTX RTX Corporation | 9 | +8.7% | |
| SPCX Space Exploration Technologies Corp. | · | n/a | |
| TDG TransDigm Group | 10 | +18.3% | |
| TXT Textron | 7 | +11.8% |