RESTON, VA -- General Dynamics recorded consolidated third-quarter 2026 revenue of $14.6 billion, representing a 12.9 percent increase compared to the $12.9 billion reported in the third quarter of 2025. Net earnings for the period totaled $1.23 billion, reflecting a 16.1 percent gain over the $1.069 billion generated in the prior-year quarter.
Net order bookings totaled $98.8 billion across the corporation. This order intake was principally driven by major multi-year U.S. Navy procurement awards for Virginia-class attack submarines and Columbia-class ballistic missile submarines.
Total company backlog closed the period at a record $220.3 billion, including $111.8 billion in funded backlog and $108.5 billion in unfunded allocations, compared to $136.5 billion at the close of the prior quarter.
INDUSTRY SEGMENTS
Aerospace
Aerospace revenue rose 9.3 percent year-over-year to $3.54 billion, compared to $3.23 billion in the third quarter of 2025. Gulfstream aircraft deliveries totaled 40 units, comprising 35 large-cabin business jets and five mid-cabin aircraft, compared to 39 deliveries in the prior-year period.
Operating earnings for the segment increased 19.3 percent to $513 million, up from $430 million in the third quarter of 2025. Operating margin expanded 120 basis points to 14.5 percent from 13.3 percent. Margin improvement was driven by manufacturing efficiency gains on active production models and a product delivery mix weighted toward higher-margin large-cabin platforms, with no material fixed-price contract adjustments disclosed.
Marine Systems
Marine Systems generated revenue of $4.96 billion, up 21.1 percent from $4.10 billion in the prior-year period. Revenue growth was led by higher construction volume across all principal shipyards, with accelerated activity on the Columbia-class ballistic missile submarine and Virginia-class attack submarine lines at Electric Boat, along with ongoing surface combatant and auxiliary vessel programs at Bath Iron Works and NASSCO.
Segment operating earnings rose 34.4 percent to $391 million, compared to $291 million in the third quarter of 2025. Operating margin increased by 80 basis points to 7.9 percent from 7.1 percent. Performance benefited from increased shipyard throughput, program maturity gains on ongoing construction sequences, and consistent execution across major cost-plus and fixed-price naval build cycles.
Combat Systems
Combat Systems revenue increased 6.0 percent year-over-year to $2.39 billion, compared to $2.25 billion in the third quarter of 2025. Revenue gains were supported by continued volume in tracked and wheeled armored combat vehicles, tactical weapon systems, and high-rate munitions production to support U.S. Army modernization and international replenishment demands. Backlog for the segment expanded 53 percent year-over-year.
Operating earnings decreased 1.5 percent to $330 million, compared to $335 million in the prior-year period, resulting in an operating margin contraction of 110 basis points to 13.8 percent from 14.9 percent. The margin decline reflected contract mix variations, schedule timing across international vehicle deliveries, and initial ramp-up costs on expanded production and modernization lines.
Technologies
Technologies revenue advanced 10.8 percent to $3.68 billion, up from $3.33 billion in the third quarter of 2025. Segment growth was driven by broad customer demand for defense cloud computing, tactical communications networks, command-and-control infrastructure, and mission IT modernization programs across federal defense and intelligence agencies.
Operating earnings rose 5.8 percent to $346 million, compared to $327 million in the year-ago period. Operating margin compressed 40 basis points to 9.4 percent from 9.8 percent. Profitability trends reflected contract mix variations tilted toward large-scale IT service deployments and ongoing investments in advanced technical offerings.
