Q2 2026 revenue reached $14.1B, up 8.1% year-over-year, with operating earnings of $1.46B and net earnings of $1.16B; diluted EPS was $4.24, up 13.4% year-over-year.
All four segments posted revenue growth, with Aerospace and Marine Systems achieving double-digit increases and notable margin expansion.
Backlog reached a record $136.5B, up 31.7% year-over-year, with a company-wide book-to-bill ratio of 1.4x and strong order activity across all segments.
Delivered key program milestones, including the 100th G700 aircraft and 41 Gulfstream deliveries in Q2.
Major contract wins included $1.4B from Canada and $850M from the U.S. Army for Combat Systems, and $2.3B and $856M for Marine Systems.
Operating margin improved to 10.4%, up 40 basis points year-over-year.
Net earnings for Q2 2026 were $1.16B, up 14.4% year-over-year; diluted EPS was $4.24, up from $3.74.
Free cash flow for Q2 was $1.65B, with six-month free cash flow at $3.6B; cash from operating activities was $1.9B for the quarter.
Net debt decreased to $3.18B from $5.68B at year-end 2025; cash and equivalents at quarter-end were $4.3B.
Capital expenditures were $234M for the quarter and $437M for six months, up nearly 30% year-over-year.
Full-year 2026 EPS guidance raised to $16.80-$16.90; company-wide revenue expected at $55.7B with a 10.5% operating margin.
Segment revenue guidance: Aerospace ~$13.8B (14.7% margin), Marine ~$18B (7.4%), Combat ~$9.8B (13.8%), Technologies ~$14.1B (9.4%).
Free cash flow conversion rate for the year expected at ~105% of net income.
Full-year effective tax rate expected at ~17.5%.
Management highlighted robust demand, strong order activity, and ongoing investments to increase output.
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