Q3 25 EPS
$3.88
BEAT +4.57%
Est. $3.71
Q3 25 Revenue
$12.91B
BEAT +2.99%
Est. $12.53B
vs S&P Since Q3 25
-6.1%
TRAILING MARKET
GD +0.4% vs S&P +6.4%
Market Reaction
Did GD Beat Earnings? Q3 2025 Results
General Dynamics capped a standout third quarter of 2025 with beats on both the top and bottom lines, as the defense and aerospace giant posted revenue of $12.91 billion, up 10.6% year over year and ahead of the $12.53 billion consensus, while dilute… Read more General Dynamics capped a standout third quarter of 2025 with beats on both the top and bottom lines, as the defense and aerospace giant posted revenue of $12.91 billion, up 10.6% year over year and ahead of the $12.53 billion consensus, while diluted EPS of $3.88 cleared the $3.71 estimate by 4.57%. The single most decisive driver was an extraordinary surge in the Aerospace segment, where revenue jumped 30.3% to $3.23 billion as Gulfstream accelerated aircraft deliveries to 39 in the quarter, up from 28 a year ago, and booked $4.05 billion in new orders at a 1.3x book-to-bill ratio, reflecting what analysts have characterized as remarkably strong business jet demand. The strength was not confined to aerospace; Marine Systems added 13.8% revenue growth to $4.10 billion on sustained submarine demand, and total companywide orders of $19.30 billion pushed consolidated backlog to $109.86 billion, a sharp rise from $92.63 billion a year earlier, underscoring the durability of both defense spending momentum and commercial aviation appetite heading into year-end.
Key Takeaways
- • Aerospace segment revenue grew 30.3% with 100 bps margin expansion driven by strong Gulfstream deliveries (39 aircraft vs. 28 year-ago)
- • Marine Systems revenue up 13.8% reflecting sustained submarine and ship construction demand
- • Operating margin expanded 20 bps year-over-year to 10.3%
- • Operating cash flow of $2.1 billion represented 199% of net earnings
- • Companywide book-to-bill ratio of 1.5x with defense segments at 1.6x
GD YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
GD Revenue by Segment
With YoY comparisons, source: SEC Filings
“Each of our four segments grew earnings and backlog in the quarter, reflecting solid execution coupled with growing demand.”
— Phebe Novakovic, Q3 2025 Earnings Press Release
GD Earnings Trends
GD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GD EPS Trend
Earnings per share: estimate vs actual
GD Revenue Trend
Quarterly revenue: estimate vs actual
GD Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $4.10 | — | $13.48B | — |
| Q4 25 BEAT FY | $4.11 | $4.17 | +1.46% | $14.38B | +4.37% |
| FY Full Year | $15.41 | $15.45 | +0.28% | $52.55B | +1.16% |
| Q3 25 BEAT | $3.71 | $3.88 | +4.57% | $12.91B | +2.99% |
| Q2 25 BEAT | $3.44 | $3.74 | +8.79% | $13.04B | +7.05% |
| Q1 25 BEAT | $3.46 | $3.66 | +5.72% | $12.22B | +2.34% |