Slides
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Second-Quarter 2026 Highlights July 29, 2026
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Forward-Looking Statements; Non-GAAP Measures This presentation contains forward-looking statements (FLS), including statements about the company’s future operational and financial performance, which are based on management’s expectations, estimates, projections and assumptions. Words such as “expects,” “anticipates,” “plans,” “believes,” “forecasts,” “scheduled,” “outlook,” “estimates,” “should” and variations of these words and similar expressions are intended to identify FLS. In making FLS, we rely on assumptions and analyses based on our experience and perception of historical trends; current conditions and expected future developments; and other factors, estimates and judgments we consider reasonable and appropriate based on information available to us at the time. FLS are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. FLS are not guarantees of future performance and involve factors, risks and uncertainties that are difficult to predict. Actual future results and trends may differ materially from what is forecast in the FLS. All FLS speak only as of the date they were made. We do not undertake any obligation to update or publicly release revisions to FLS to reflect events, circumstances or changes in expectations after the date of this presentation. Additional information regarding these factors is contained in the company’s filings with the SEC, and these factors may be revised or supplemented in future SEC filings. In addition, this presentation contains some financial measures not prepared in accordance with U.S. generally accepted accounting principles (GAAP). While we believe these non-GAAP metrics provide useful information for investors, there are limitations associated with their use, and our calculations of these metrics may not be comparable to similarly titled measures of other companies. Non-GAAP metrics should not be considered in isolation from, or as a substitute for, GAAP measures. Reconciliations to comparable GAAP measures and other information relating to our non-GAAP measures is included in our earnings press release or other filings with the SEC, which are available on our investor relations page at http://investorrelations.gd.com.
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2026 2025 2Q26 vs. 2Q25 Revenue 14,094$ 13,041$ 8.1% Operating Earnings 1,460 1,305 11.9% Operating Margin 10.4% 10.0% 40 bps Net Earnings 1,160 1,014 14.4% EPS, Diluted 4.24 3.74 13.4% Total Backlog 136,498$ 103,682$ 31.7% Total Estimated Contract Value * 186,902 161,158 16.0% Free Cash Flow * 1,646$ 1,400$ % Net Earnings 142% 138% Second Quarter 3 Second-Quarter 2026 Financial Highlights $ In Millions, Except EPS * See our earnings press release regarding this non-GAAP measure Strong Results and Robust Demand
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4 First-Half 2026 Financial Highlights $ In Millions, Except EPS * See our earnings press release regarding this non-GAAP measure 2026 2025 1H26 vs. 1H25 Revenue 27,575$ 25,264$ 9.1% Operating Earnings 2,880 2,573 11.9% Operating Margin 10.4% 10.2% 20 bps Net Earnings 2,285 2,008 13.8% EPS, Diluted 8.35 7.40 12.8% Total Backlog 136,498$ 103,682$ 31.7% Total Estimated Contract Value * 186,902 161,158 16.0% Free Cash Flow * 3,598$ 1,110$ % Net Earnings 157% 55% First Half
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$3,062 $3,525 2Q25 2Q26 $403 $510 2Q25 2Q26 13.2% 14.5% $4.0 $4.1 $5.1 $3.8 $5.3 $19.9 $20.6 $21.8 $22.3 $24.0 2Q25 3Q25 4Q25 1Q26 2Q26 5 Aerospace – Second-Quarter 2026 Highlights Operating Earnings and Operating Margin Revenue $ In Millions $ In Millions Total Backlog and Orders $ In Billions • Delivered the 100th G700 • Revenue grew 15% and margin up 130 bps on improved performance • Book-to-bill of 1.5x for the quarter • Backlog up 20% year-over-year
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$2,283 $2,290 2Q25 2Q26 $324 $318 2Q25 2Q26 14.2% 13.9% $2.2 $4.4 $10.9 $2.2 $4.9 $16.6 $18.7 $27.2 $26.9 $29.4 2Q25 3Q25 4Q25 1Q26 2Q26 6 Combat Systems – Second-Quarter 2026 Highlights Operating Earnings and Operating Margin Revenue $ In Millions $ In Millions Total Backlog and Orders $ In Billions • Book-to-bi ll of 2.1x for the quarter with all business units at or above 1.5x – Awarded $1.4B from Canada to produce armored combat support vehicles – Awarded $850M from U.S. Army for next-gen Abrams engineering services – Awarded $850M for munitions and ordnance • Backlog up 77% year-over-year
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$4,220 $4,660 2Q25 2Q26 $291 $342 2Q25 2Q26 6.9% 7.3% $18.8 $4.7 $3.5 $16.0 $5.9 $53.0 $53.6 $52.3 $64.0 $65.2 2Q25 3Q25 4Q25 1Q26 2Q26 7 Marine Systems – Second-Quarter 2026 Highlights Operating Earnings and Operating Margin $ In Millions Total Backlog and Orders Revenue $ In Millions $ In Billions • Revenue up 10% on higher volume across all shipyards • Margin increased 40 bps on steadily improving performance • Book-to-bill of 1.3x for the quarter – Awarded $2.3B for long-lead Virginia-class Block VI material – Awarded $856M for construction of an additional John Lewis-class T-AO oiler • Backlog up 23% year-over-year
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$3,476 $3,619 2Q25 2Q26 $332 $339 2Q25 2Q26 9.6% 9.4% $14.2 $16.9 $16.7 $17.7 $18.0 $46.2 $49.3 $49.9 $50.0 $48.9 2Q25 3Q25 4Q25 1Q26 2Q26 8 Technologies – Second-Quarter 2026 Highlights Operating Earnings and Operating Margin Total Backlog and Total Estimated Contract Value Revenue $ In Millions $ In Millions $ In Billions • Revenue up 4% on growth at both GDIT and Mission Systems • Book-to-bill of 1.1x for the quarter at both business units • Backlog up 26% year-over-year