Industrials & DefenseEarnings — Latest Quarter & What's Coming

GE reported strong Q2 FY2026 growth, with revenue up 21.1% to $13.35B and net income up 16.9% to $2.37B, driven by higher engine deliveries, stronger services demand, and an expanding aerospace backlog despite ongoing supply chain and tariff-related pressures.

Deere & Company posted Q2 FY2026 revenue of $13.37B (+4.7% YoY) but net income slipped 1.7% to $1.77B as higher costs offset top-line growth, while operating cash flow surged 83.5% year-to-date to $1.04B.

CAT delivered strong Q1 FY2026 results with revenue surging 22.2% YoY to $17.4B and EPS jumping 30.3% to $5.50, driven by robust demand across its business segments, though operating margin edged slightly lower and aggressive share buybacks of $5.0B highlight continued capital returns to shareholders.

UPS reported a challenging Q1 2026 with revenue declining 1.6% YoY to $21.2B and net income falling 27.2% to $864M, reflecting significant margin compression as operating margin dropped nearly 180 basis points to 6.0%.

Lockheed Martin's Q1 FY2026 revenue was nearly flat at $18.0B (+0.3% YoY), but profitability declined sharply with net income falling 13.1% to $1.49B and operating cash flow collapsing 84.4% to $220M, driven by rising costs and higher cost of revenue.

Union Pacific delivered solid Q1 2026 results with revenue up 3.2% to $6.22B and net income up 4.6% to $1.70B, while maintaining a best-in-class operating margin near 39.5% and generating $2.44B in operating cash flow.

Honeywell delivered modest 2.4% revenue growth to $9.14B in Q1 2026 with improved operating margins, but net income plunged 43.3% to $821M and operating cash flow turned sharply negative at -$650M, signaling significant one-time charges and working capital headwinds.

Boeing reported Q1 2026 revenue of $22.2B (+14.0% YoY) with a near-breakeven net loss of -$4M, showing meaningful improvement from the prior year but still facing thin margins and deeply leveraged balance sheet.

RTX delivered strong Q1 FY2026 results with revenue of $22.1B (+8.7% YoY), net income surging 34.1% to $2.1B, and operating cash flow jumping 42.1% to $1.9B, reflecting broad-based operational improvement across its defense and aerospace segments.

Northrop Grumman (NOC) delivered strong Q1 FY2026 results with revenue up 4.4% to $9.88B and net income surging 81.9% to $875M, driven by significant margin expansion, though operating cash flow remained negative at -$1.66B.

FDX delivered solid Q3 FY2026 results with revenue rising 8.3% YoY to $24.0B and net income surging 16.2% to $1.06B, though operating margin edged slightly lower as cost pressures offset top-line growth.