Q2 2026 revenue reached $14.1B, up 8.1% year-over-year, with operating earnings of $1.5B 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.
Major contract wins and program milestones, including the 100th G700 aircraft and significant awards in Combat and Marine Systems.
Management highlighted robust demand and ongoing investments to increase output and meet customer needs.
Operating margin improved to 10.4% in Q2 2026, 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 operating cash flow at $1.9B; free cash flow for the first half was $3.6B.
Ended the quarter with $4.3B in cash and net debt of $3.18B, down from $5.68B at year-end 2025.
Capital expenditures were $234M in Q2 and $437M for the first half, 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 expected at ~105% of net income for the year.
Full-year effective tax rate expected at ~17.5%.
Management expects robust demand and strong order activity across all business units, with book-to-bill ratios above 1.0x in all segments.
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