Home Economy Economic Activity General Dynamics posts $1.13B Q1 profit

General Dynamics posts $1.13B Q1 profit

By

PBN Staff

-

04/29/2026

Hyman — GENERAL DYNAMICS CORP., parent of General Dynamics Electric Boat in North Kingstown, logged a $1.13 billion profit in the first quarter of 2026. / COURTESY GENERAL DYNAMICS ELECTRIC BOAT

NORTH KINGSTOWN – General Dynamics Corp. logged a $1.13 billion profit in the first quarter of 2026, a 13.2% increase year over year, the aerospace and defense company said Wednesday. Earnings per diluted share were $4.10 for the quarter, a 12% increase from $3.66 one year prior. The results beat Wall Street expectations. The average estimate of eight analysts surveyed by

Already a Subscriber? Log in

To Continue Reading This Article

Become a Providence Business News subscriber and get immediate access to all of our premier content and much more.

Learn More and Become a Subscriber

Critical RI business news and analysis updated daily.
1 year of print (26 issues).
Unlimited access to all subscriber only content on our website, on any device.
Free email alerts.
Annual Book of Lists Print Edition.
All special issues produced during subscription term.

Click Here to purchase a paywall bypass link for this article

PBN Branded Content

Why the Housing Market May Be Closer to a Boom Than a Bust

By Emilio DiSpirito License Partner | Private Office Advisor, Engel & Volkers Oceanside www.DiSpiritoteam.com For…

Learn More

No posts to display

LEAVE A REPLY Cancel reply

NORTH KINGSTOWN – General Dynamics Corp. logged a $1.13 billion profit in the first quarter of 2026, a 13.2% increase year over year, the aerospace and defense company said Wednesday. Earnings per diluted share were $4.10 for the quarter, a 12% increase from $3.66 one year prior. The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.69 per share. Quarterly revenue was $13.4 billion, 10.3% more than the $12.2 billion reported in the first quarter of 2025. The quarterly revenue results also exceeded Wall Street forecasts. Six analysts surveyed by Zacks expected $12.7 billion. The company’s Marine Systems segment includes General Dynamics Electric Boat, which has a significant submarine-building operation in North Kingstown, and reported $4.3 billion in revenue for the quarter, a 21% increase year over year. Marine Systems profit was $316 million, a 26.4% increase year over year. On March 18, General Dynamics Electric Boat was awarded a $15.4 billion contract extension from the U.S. Department of War for its Columbia-class ballistic missile submarine program. The modification extended a $5.1 billion contract that was awarded in September 2017 for integrated product and process development design completion for the new Columbia-class ballistic missile submarines. In September, Electric Boat was awarded a $642 million contract modification for Virginia-class submarine work. That award was a cost-plus-fixed-fee modification to a $4 billion contract previously awarded on Oct. 13, 2019, for lead yard support and development studies and design efforts related to the submarines. Electric Boat announced in February that it was adding 3,500 jobs at Quonset Point as the company ramps up its nuclear submarine production. Electric Boat currently has 25,000 total workers, including 8,000 at Quonset Point. Last year, Electric Boat had 24,000 workers across the U.S. Over the last three years, the company has been averaging 4,000 hires annually as it has grown its labor force in Rhode Island and Connecticut. “Our businesses had a very good start to the year, delivering strong operating results and excellent cash conversion,” said Phebe Novakovic, chairman and CEO. “We are positioned well to drive additional performance throughout the year.” Material from The Associated Press was used in this report.