General Dynamics shares surge after raising 2026 profit guidance
The defense contractor said marine systems and Gulfstream strength lifted quarterly revenue 10.3% and operating cash flow to $2.2 billion.
- On Wednesday, General Dynamics raised its 2026 annual profit forecast and beat Wall Street estimates, with quarterly revenue reaching $13.48 billion and per-share profit rising 12% to $4.10.
- Marine systems revenue surged 21% from last year, driven by higher production volumes on Virginia- and Columbia-class submarines amid robust defense demand and President Donald Trump's $1.5 trillion defense budget request.
- Aerospace revenue increased 8.4% as the Gulfstream unit delivered 38 aircraft, while free cash flow rebounded to nearly $2 billion from negative $290 million a year earlier.
- General Dynamics President Danny Deep said share repurchases are "highly sensitive," noting "it behooves us to continue to be cautious" as President Trump vowed to block defense contractor buybacks.
- While demand remains robust, Deep warned that "numerous transactions slowed at the end of the quarter as a result of the conflict in the Middle East," though the company continues recovering from supply chain disruptions.
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