Key HighlightsFirst quarter EPS reached $4.11, surpassing the $3.67 analyst consensus, while revenue hit $13.5B versus $12.7B expectedMarine Systems division revenue jumped 21%, fueled by increased Virginia and Columbia class submarine productionEstimated total contract value climbed to $188B, representing a 33% year-over-year increaseGD delivered strong performance while rivals Lockheed Martin and Northrop Grumman declined 5–7% following their quarterly reportsShares climbed more than 10% Wednesday; the stock had declined 12% since Iran conflict beganGeneral Dynamics delivered an impressive first quarter performance for 2026, propelling shares significantly higher and providing a welcomed boost to the defense sector.$GD | General Dynamics Corporation, Q1-2026 Earning Report pic.twitter.com/mVStXL4sTf— Hardik Shah (@AIStockSavvy) April 29, 2026The defense contractor announced quarterly earnings of $4.11 per share on total revenue of $13.5 billion. Analyst projections had called for $3.67 per share on $12.7 billion in top-line revenue. In the comparable period last year, the company posted earnings of $3.66 per share with revenue of $12.2 billion.Net income reached $1.13 billion, representing an increase from the $994 million recorded in the prior year’s first quarter.General Dynamics Corporation, GDShares climbed over 10% during Wednesday’s trading session. Prior to the earnings release, GD stock had fallen 12% since hostilities commenced in Iran, underperforming the S&P 500 by approximately 15 percentage points.First quarter bookings totaled $26.6 billion. The company’s total estimated contract value — representing anticipated future revenue — concluded the quarter at $188 billion, marking a 33% gain compared to last year. The order backlog stood at $130.8 billion.Marine Division Powers GrowthThe star performer was the Marine Systems division, which expanded 21% to deliver $4.34 billion in quarterly revenue. This substantial growth stemmed from elevated production levels of Virginia and Columbia class nuclear submarines.Aerospace revenue, encompassing Gulfstream business aircraft, increased 10%. The Combat Systems division, manufacturing tanks and armored vehicles, expanded 5%. Defense Technologies posted 4% growth.Vertical Research Partners analyst Rob Stallard described the results as a “clean beat” in his Wednesday morning research note.The company maintained its existing full-year outlook. General Dynamics had previously provided guidance in January for annual earnings per share between $16.10 and $16.20, with revenue projected in the $54.3 billion to $54.8 billion range.Bucking Industry TrendsThese results stand in stark contrast to recent performance among defense sector peers. Lockheed Martin shares declined approximately 5% following its first quarter announcement. Northrop Grumman experienced a roughly 7% drop. Both companies faced investor concerns regarding potential defense spending peaks and possible ramifications from a Democrat-controlled Senate after midterm elections.General Dynamics’ quarterly performance managed to rise above these sector headwinds.The company maintains a GF Score of 95 out of 100, with both profitability and growth metrics scoring 9 out of 10. The trailing price-to-earnings ratio currently stands at 20.3x.A noteworthy consideration: company insiders offloaded $19.5 million in shares during the previous three months, with zero insider purchases recorded during that timeframe.General Dynamics’ market capitalization currently stands at roughly $84.96 billion. Premarket trading showed the stock at $329.91, up 5.2% at that point, with gains expanding further after regular market hours commenced.The post General Dynamics (GD) Stock Soars 10% on Strong Q1 Earnings Performance appeared first on Blockonomi.