Gulfstream Delivered 40 Jets in the Quarter Ended 4 October
General Dynamics reported 40 Gulfstream deliveries, $3.536 billion of Aerospace revenue and a $25.385 billion aerospace backlog for the quarter ended 4 October 2026.
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Updated November 10, 2026
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General Dynamics reported on 30 October 2026 that Gulfstream delivered 40 business jets in the quarter ended 4 October, one more than a year earlier. Aerospace revenue was $3.536 billion, operating earnings were $513 million, and firm aerospace backlog was $25.385 billion.
The 40 is a Gulfstream unit count. The dollars are for the Aerospace segment. On that day's earnings call, management described the quarter as new Gulfstream aircraft plus services at Gulfstream and at Jet Aviation. The press release does not split the $3.536 billion between those lines.
What the accounts show
Exhibit C puts Aerospace revenue at $3.536 billion, against $3.234 billion in the quarter ended 28 September 2025. The increase is $302 million, or 9.3 percent. Operating earnings rose from $430 million to $513 million, or 19.3 percent. Margin was 14.5 percent, against 13.3 percent.
Through nine months ended 4 October, Exhibit D shows revenue of $10.340 billion, up 10.9 percent from $9.322 billion, and operating earnings of $1.516 billion, up 19.8 percent from $1.265 billion. Nine-month margin was 14.7 percent, against 13.6 percent.
Chairman and chief executive Phebe Novakovic said Gulfstream new-aircraft revenue rose on the extra delivery and a slightly more favorable mix, and that services revenue rose at Gulfstream and at Jet Aviation. The exhibits still give no separate aircraft-sales total.
Deliveries, orders and backlog
Exhibit G splits the 40 into 35 large-cabin jets and five mid-cabin jets. A year earlier the split was 33 and six. Nine-month deliveries were 119 against 113: large-cabin 101 versus 95, mid-cabin 18 in both periods. There is no model table, so the five mid-cabin jets are not named.
Quarter orders were $4.970 billion, against $4.053 billion, a book-to-bill of 1.4 times versus 1.3 times. The release narrative rounds that intake to $5 billion. Nine-month orders were $14.091 billion, against $10.417 billion, and the nine-month book-to-bill was 1.4 times versus 1.1 times. Those dollars exclude defaults, liquidated damages, cancellations, currency moves and other backlog adjustments.
Novakovic said airplane orders were five higher than a year earlier, and that the trailing-twelve-month book-to-bill was also 1.4 times. The call's financial review said new aircraft orders for the nine months were up more than 30 percent, and that Gulfstream's own dollar book-to-bill was above the segment figure, without stating it. The release prints neither number. The 30 percent is not the change from $10.417 billion to $14.091 billion.
Firm backlog was $25.385 billion: $24.460 billion funded and $925 million unfunded. It was $23.977 billion a quarter earlier and $20.607 billion a year earlier. A further $1.374 billion is estimated potential contract value, including unexercised options for aircraft and services. The release says an option enters backlog only when the customer exercises it.
The company book-to-bill of 6.8 times is not this story. Of $98.8 billion in quarter orders, the release puts $93.8 billion in the defense segments, led by Virginia-class and Columbia-class submarines.
What management said comes next
President Danny Deep said the intent is to deliver 200 aircraft in 2030, which requires producing more than 200 in 2029. He said the workforce, facilities and production to build 200 are in place, and that he hopes suppliers can keep up. Beyond 200 would take more facilities and equipment, and only if demand requires it. The release does not repeat 2030.
He said the G280 is phasing out, with a gap before the G300. G280 deliveries are expected to finish around mid-2027. G300 certification is expected toward the end of 2027, and deliveries after that depend in part on the Middle East. More large-cabin aircraft are expected to offset the lower G280 volume. That is not a published schedule. This quarter's five mid-cabin deliveries are not identified as G280s.
Novakovic described active interest in the United States, Western Europe and Southeast Asia. Middle East customers, she said, remain in the pipeline but are slow to order.
What the print settles
Gulfstream delivered one more jet than a year ago, and two more large-cabin jets. Segment orders covered Aerospace revenue 1.4 times. Firm backlog is above both the prior quarter and the prior year. The print does not name the 35 large-cabin models or turn 200 deliveries in 2030 into a contracted rate. The G300 date is a call remark, not an FAA certificate.
