Company and Industry Overview * **Company**: General Dynamics Corporation (NYSE: GD) * **Industry**: Aerospace & Defense * **Event**: TD Cowen 45th Annual Aerospace & Defense Conference * **Date**: February 13, 2024 * **Participants**: Phebe Novakovic (CEO, General Dynamics) and Cai von Rumohr (TD Cowen) Key Takeaways 2023 Performance and Outlook * **Revenue Growth**: General Dynamics achieved strong revenue growth in 2023, driven by defense revenue and increased deliveries. * **Margin Improvement**: The company expects margin improvement in 2024, driven by volume mix, cost efficiency, and reduced R&D expenses. * **Earnings Growth**: General Dynamics anticipates additional earnings growth as a result of revenue growth and margin improvement. Aerospace Segment * **Gulfstream**: Gulfstream deliveries are expected to increase by 44% in 2024, driven by strong demand and the ramp-up of the G700 program. * **Supply Chain**: The aerospace supply chain is improving, but there are still challenges, particularly in out-of-station work. * **Labor Market**: Gulfstream does not face labor issues, while the Marine Group has seen improved hiring and training programs. Marine Segment * **Marine Group**: The Marine Group is focused on increasing throughput and productivity to offset supply chain challenges and cost impacts. * **Supply Chain**: The marine supply chain is improving, but there are still elements that need further improvement. * **Labor Market**: The Marine Group has seen increased hiring and training programs, leading to improved productivity. Combat Systems Segment * **Combat Systems**: The Combat Systems segment is well-positioned for growth through 2026, driven by strong demand for munitions and land systems. * **Munitions**: The company has tripled 155mm production in two years and is focused on replenishing stockpiles. * **Land Systems**: Demand for land systems is increasing in Europe, Asia, and the United States. Technology Segment * **Technology**: The Technology segment is expected to grow at a low single-digit rate, driven by new orders and margin improvement. * **Mission Systems**: Mission Systems is expected to achieve a solid book-to-bill ratio and see growth in space orders. * **Technology**: The Technology segment is focused on increasing margins as it ramps up on newer programs. Financials * **Cash Flow**: General Dynamics expects strong cash flow conversion, driven by improved operating performance and reduced capital expenditures. * **Capital Deployment**: The company plans to focus on share repurchases, with a bias towards opportunistic purchases. Risks * **Supply Chain**: The stability of the supply chain remains a key risk. * **Geopolitical Events**: Unexpected geopolitical events could impact the company's business. * **Macroeconomic Stress**: Macroeconomic stress could impact the company's business and demand for defense products. Conclusion General Dynamics is well-positioned for growth in 2024 and beyond, driven by strong demand for defense products, improved operating performance, and prudent capital deployment. The company is focused on margin improvement and driving value for its customers, employees, and shareholders.

It's still earnings season on Wall Street -- for many stocks. But for defense stocks in particular, earnings season wrapped up with a blockbuster report from Huntington Ingalls. Now that the noise has died down, it's time to start looking for winners and losers within the sector.And with its shares up 7.3% since earnings were released last month, it's clear that General Dynamics (GD 0.42%) is one of the biggest winners.General Dynamics in 2023Shares of the defense major, known mainly as a builder of naval w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [☑] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR [☐] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 1-3671 GENERAL DYNAMICS CORPORATION (Exact name of registrant as specified in its charter) | | | State or other juris ...

Subscribers to Chart of the Week received this commentary on Sunday, February 4.Later this month, Feb 24. will mark the two-year anniversary of Russia’s invasion of Ukraine. And next Wednesday marks four months since the Oct. 7 attack on Israel by Hamas. There’s nothing to celebrate about these two dates, unless some progress toward a ceasefire is made toward each conflict in the coming days and weeks. In the weeks after Russia first attacked Ukraine back in 2022, I wondered out loud what it could mean for ...

RESTON, Va., Jan. 30, 2024 /PRNewswire/ -- General Dynamics (NYSE: GD) Chief Executive Officer Phebe Novakovic will speak at the Cowen 45th Annual Aerospace & Defense Conference in Arlington, Virginia, on Tuesday, February 13, at 11:30 a.m. EST.  A link to the live webcast of the presentation will be available at https://wsw.com/webcast/cowen153/gd/1661319. General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship constructio ...

With the rising tensions around the world, it is no surprise that stocks in the war and defense sector are recording massive price gains, but what is interesting is the connection between these companies and some of America’s most prominent politicians, including United States Senator Lindsey Graham.As it happens, the largest political donors to the senior Republican senator from South Carolina over the years have been the companies that have directly benefitted from war, according to the information reveal ...

Omar Marques/Getty Images News General Dynamics (NYSE:GD) is an aerospace and defense company that generates more than 70% of its revenue from the U.S. government. It has a steady growth record with a stable and quite healthy backlog. I forecast that the company will benefit from the increasing tension in the global geopolitical situation. The company reported its Q4 FY23 results on January 24th, exceeding revenue expectations. I am initiating coverage with a 'Strong Buy' recommendation and a fair value ...

General Dynamics (NYSE:GD) Q4 2023 Earnings Conference Call January 24, 2024 9:00 AM ET Company Participants Nicole Shelton - VP, IR Jason Aiken - EVP and CFO Phebe Novakovic - Chairman and CEO Conference Call Participants Myles Walton - Wolfe Research Ron Epstein - Bank of America Jason Gursky - Citigroup Davis Strauss - Barclays Sheila Kahyaoglu - Jefferies Seth Seifman - JP Morgan Noah Poponak - Goldman Sachs Cai von Rumohr - TD Cowen George Shapiro - Shapiro Research Robert Spingarn - Melius Research Pe ...

General Dynamics Corporation (GD) reported fourth-quarter 2023 earnings per share (EPS) of $3.64, which missed the Zacks Consensus Estimate of $3.66 by 0.6%. However, the figure increased 1.7% from $3.58 per share recorded in the year-ago quarter.General Dynamics reported EPS of $12.02 per share for 2023, which missed the Zacks Consensus Estimate of $12.12 by 0.8%. The bottom line also decreased 1.4% from $12.19 per share recorded in the year-ago quarter.Total RevenuesGeneral Dynamics’ revenues of $11,668 m ...

General Dynamics (GD) reported $11.67 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 7.5%. EPS of $3.64 for the same period compares to $3.58 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $11.54 billion, representing a surprise of +1.09%. The company delivered an EPS surprise of -0.55%, with the consensus EPS estimate being $3.66.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...