First-Quarter 2024 Highlights This presentation contains forward-looking statements (FLS), including statements about the company's future operational and financial performance, which are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "forecasts," "scheduled," "outlook," "estimates," "should" and variations of these words and similar expressions are intended to identify FLS. In making FLS, we rely on assumptions and an ...

[PART I - FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) This section presents the unaudited consolidated financial statements and management's discussion and analysis for the first quarter of 2024 [Unaudited Consolidated Financial Statements](index=3&type=section&id=Item%201%20-%20Unaudited%20Consolidated%20Financial%20Statements) For the three months ended March 31, 2024, General Dynamics reported total revenues of $10.73 billion, an 8.6% increase year-over-year, and net earnings of $799 million, resulting in diluted EPS of $2.88. The balance sheet shows total assets of $55.2 billion. The company experienced negative operating cash flow of $278 million, primarily due to an increase in inventories and unbilled receivables related to production ramp-ups [Consolidated Statement of Earnings](index=4&type=section&id=Consolidated%20Statement%20of%20Earnings) This statement details the company's revenues, operating earnings, and net earnings for the three months ended March 31, 2024 | Indicator | Three Months Ended March 31, 2024 | Three Months Ended April 2, 2023 | | :--- | :--- | :--- | | **Total Revenue** | $10,731 million | $9,881 million | | **Operating Earnings** | $1,036 million | $938 million | | **Net Earnings** | $799 million | $730 million | | **Diluted EPS** | $2.88 | $2.64 | - Total revenue increased by **8.6%** year-over-year, from **$9.88 billion** to **$10.73 billion**. Net earnings grew by **9.5%** to **$799 million**, and diluted EPS increased by **9.1%** to **$2.88**[9](index=9&type=chunk) [Consolidated Balance Sheet](index=6&type=section&id=Consolidated%20Balance%20Sheet) This statement provides a snapshot of the company's assets, liabilities, and shareholders' equity as of March 31, 2024 | Asset/Liability | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Cash and equivalents** | $1,036 million | $1,913 million | | **Total current assets** | $24,196 million | $23,615 million | | **Total assets** | $55,246 million | $54,810 million | | **Long-term debt** | $8,752 million | $8,754 million | | **Total liabilities** | $33,836 million | $33,511 million | | **Total shareholders' equity** | $21,410 million | $21,299 million | - Cash and equivalents decreased significantly to **$1.04 billion** from **$1.91 billion** at year-end 2023, while inventories increased by over **$1 billion** to **$9.59 billion**, reflecting production ramp-ups[12](index=12&type=chunk) [Consolidated Statement of Cash Flows](index=7&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) This statement outlines the cash inflows and outflows from operating, investing, and financing activities for the first quarter of 2024 | Cash Flow Activity | Three Months Ended March 31, 2024 | Three Months Ended April 2, 2023 | | :--- | :--- | :--- | | **Net cash (used) provided by operating activities** | ($278 million) | $1,462 million | | **Net cash used by investing activities** | ($182 million) | ($190 million) | | **Net cash used by financing activities** | ($416 million) | ($475 million) | | **Net (decrease) increase in cash and equivalents** | ($877 million) | $796 million | - The company experienced a significant shift in operating cash flow, from a **$1.46 billion** inflow in Q1 2023 to a **$278 million** outflow in Q1 2024. This was primarily driven by increases in inventories and unbilled receivables[13](index=13&type=chunk) [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) This section provides detailed disclosures on revenue recognition, segment information, and backlog supporting the financial statements - Total backlog (remaining performance obligations) stood at **$93.7 billion** as of March 31, 2024. The company expects to recognize approximately **65%** of this backlog as revenue by the end of 2025[28](index=28&type=chunk) - Revenue recognized over time accounted for **80%** of total revenue in Q1 2024, with substantially all defense segment revenue recognized this way. Revenue recognized at a point in time, primarily from business jet deliveries, accounted for the remaining **20%**[26](index=26&type=chunk)[27](index=27&type=chunk) - The U.S. government is the primary customer, accounting for **$7.85 billion (73%)** of total revenue in Q1 2024, up from **$7.29 billion (74%)** in Q1 2023[38](index=38&type=chunk) | Segment | Q1 2024 Revenue | Q1 2023 Revenue | | :--- | :--- | :--- | | Aerospace | $2,084 million | $1,892 million | | Marine Systems | $3,331 million | $2,992 million | | Combat Systems | $2,102 million | $1,756 million | | Technologies | $3,214 million | $3,241 million | | **Total** | **$10,731 million** | **$9,881 million** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202%20-%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 8.6% consolidated revenue growth in Q1 2024 to double-digit increases in the Aerospace, Marine Systems, and Combat Systems segments. Operating margin improved by 20 basis points to 9.7%. The company highlights the FAA certification of the G700 aircraft as a key event, paving the way for deliveries starting in Q2 2024. Total backlog remained strong at $93.7 billion. The company experienced negative free cash flow of $437 million due to working capital growth, particularly in inventories for new Gulfstream models [Consolidated Overview](index=28&type=section&id=Consolidated%20Overview) This section provides a high-level analysis of the company's overall financial performance, including revenue and operating margin trends | Metric | Q1 2024 | Q1 2023 | Variance (%) | | :--- | :--- | :--- | :--- | | **Revenue** | $10,731 million | $9,881 million | 8.6% | | **Operating Earnings** | $1,036 million | $938 million | 10.4% | | **Operating Margin** | 9.7% | 9.5% | +20 bps | - Consolidated revenue growth was driven by double-digit increases in the Aerospace, Marine Systems, and Combat Systems segments. The operating margin expanded by **20 basis points** due to revenue growing faster than operating costs[101](index=101&type=chunk) [Review of Operating Segments](index=28&type=section&id=Review%20of%20Operating%20Segments) This section analyzes the financial performance and key drivers for each of the company's operating segments - **Aerospace:** Revenue grew **10.1%** to **$2.1 billion**, driven by more G650 deliveries and higher aircraft services demand. Operating margin slightly increased to **12.2%**[103](index=103&type=chunk)[104](index=104&type=chunk) - **Marine Systems:** Revenue increased **11.3%** to **$3.3 billion**, primarily from higher volume on the Columbia-class submarine program. Operating margin was stable at **7.0%**[106](index=106&type=chunk)[107](index=107&type=chunk) - **Combat Systems:** Revenue surged **19.7%** to **$2.1 billion**, fueled by heightened demand for artillery and increased volume in military vehicle programs. Operating margin decreased to **13.4%** due to lower-margin artillery facility expansion work[108](index=108&type=chunk)[109](index=109&type=chunk)[110](index=110&type=chunk) - **Technologies:** Revenue saw a slight decrease of **0.8%** to **$3.2 billion** due to program timing and ramp-down of legacy programs. Operating margin remained consistent at **9.2%**[111](index=111&type=chunk)[112](index=112&type=chunk) [Backlog and Estimated Potential Contract Value](index=32&type=section&id=Backlog%20and%20Estimated%20Potential%20Contract%20Value) This section details the company's total backlog and estimated potential contract value, indicating future revenue visibility - Total backlog was **$93.7 billion** at the end of Q1 2024, stable compared to **$93.6 billion** at year-end 2023. Total estimated contract value, including potential options, was **$134 billion**[120](index=120&type=chunk) | Segment | Total Backlog (Mar 31, 2024) | Total Backlog (Dec 31, 2023) | | :--- | :--- | :--- | | Aerospace | $20.5 billion | $20.5 billion | | Marine Systems | $44.1 billion | $45.9 billion | | Combat Systems | $15.6 billion | $14.5 billion | | Technologies | $13.5 billion | $12.7 billion | | **Total** | **$93.7 billion** | **$93.6 billion** | - The Combat Systems segment had a strong book-to-bill ratio of **1.6-to-1**, while the overall defense segments had a ratio of **1-to-1**. The Aerospace segment's book-to-bill was **1.2-to-1**[123](index=123&type=chunk)[126](index=126&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's cash position, free cash flow, and capital deployment strategies for the quarter - The company ended Q1 2024 with **$1 billion** in cash, down from **$1.9 billion** at the end of 2023[134](index=134&type=chunk) - Free cash flow was negative **$437 million** in Q1 2024, a significant decrease from a positive **$1.3 billion** in Q1 2023. The decline was driven by growth in operating working capital, particularly inventories for new Gulfstream aircraft[135](index=135&type=chunk)[144](index=144&type=chunk) - Capital deployment in Q1 2024 included **$361 million** in dividends and **$105 million** in share repurchases. The quarterly dividend was increased by **7.6%** to **$1.42 per share**, marking the **27th consecutive annual increase**[138](index=138&type=chunk)[139](index=139&type=chunk)[140](index=140&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203%20-%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes to its market risk disclosures from those included in its Annual Report on Form 10-K for the year ended December 31, 2023 - There have been no material changes with respect to quantitative and qualitative disclosures about market risk since the 2023 year-end 10-K filing[155](index=155&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204%20-%20Controls%20and%20Procedures) Based on an evaluation as of March 31, 2024, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective. No material changes to internal control over financial reporting occurred during the quarter - Management, including the CEO and CFO, concluded that as of March 31, 2024, the company's disclosure controls and procedures were effective[156](index=156&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[157](index=157&type=chunk) [PART II - OTHER INFORMATION](index=40&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity security sales, and other relevant disclosures [Legal Proceedings](index=40&type=section&id=Item%201%20-%20Legal%20Proceedings) This section refers to Note J of the financial statements for information on legal proceedings, including a recently dismissed class action lawsuit - For information on legal proceedings, the report refers to Note J of the financial statements[162](index=162&type=chunk) - A putative class action lawsuit alleging conspiracy not to solicit naval architects and marine engineers was dismissed by the District Court on April 19, 2024[59](index=59&type=chunk) [Risk Factors](index=40&type=section&id=Item%201A%20-%20Risk%20Factors) This section states that there have been no material changes to the risk factors disclosed in the prior annual report - There have been no material changes to the risk factors previously disclosed in the 2023 Annual Report on Form 10-K[163](index=163&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202%20-%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's share repurchase activities and remaining authorization for buybacks during the quarter | Period | Shares Purchased (Buyback Program) | Average Price per Share | | :--- | :--- | :--- | | 1/1/24-1/28/24 | — | $— | | 1/29/24-2/25/24 | 353,964 | $268.36 | | 2/26/24-3/31/24 | 36,627 | $272.94 | | **Total Q1 2024** | **390,591** | **~ $268.69** | - In Q1 2024, the company repurchased **0.4 million shares** for **$105 million**. As of March 31, 2024, **4.3 million shares** remained authorized for repurchase[69](index=69&type=chunk) [Other Information](index=40&type=section&id=Item%205%20-%20Other%20Information) This section reports that no directors or officers adopted or terminated Rule 10b5-1 trading arrangements during the quarter - No directors or officers adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the first quarter of 2024[166](index=166&type=chunk) [Exhibits](index=41&type=section&id=Item%206%20-%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including executive compensation agreements and required certifications - This section lists all exhibits filed with the quarterly report, including management compensation plans and required CEO/CFO certifications[167](index=167&type=chunk)[168](index=168&type=chunk)

General Dynamics (GD) reported $10.73 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.6%. EPS of $2.88 for the same period compares to $2.64 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $10.2 billion, representing a surprise of +5.20%. The company delivered an EPS surprise of -0.35%, with the consensus EPS estimate being $2.89.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

General Dynamics Corporation (GD) reported first-quarter 2024 earnings per share (EPS) of $2.88, which missed the Zacks Consensus Estimate of $2.89 by 0.4%. However, the figure increased 9.1% from $2.64 per share recorded in the year-ago quarter.Total RevenuesGeneral Dynamics’ revenues of $10,731 million in the reported quarter beat the Zacks Consensus Estimate of $10,201 million by 5.2%. The top line also improved 8.6% from the prior-year reported figure.The year-over-year improvement can be attributed to ...

General Dynamics (GD) came out with quarterly earnings of $2.88 per share, missing the Zacks Consensus Estimate of $2.89 per share. This compares to earnings of $2.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.35%. A quarter ago, it was expected that this defense contractor would post earnings of $3.66 per share when it actually produced earnings of $3.64, delivering a surprise of -0.55%.Over the last four quarters, th ...

[First-Quarter 2024 Financial Results Overview](index=1&type=section&id=First-Quarter%202024%20Financial%20Results%20Overview) [Overall Financial Performance](index=1&type=section&id=Overall%20Financial%20Performance) General Dynamics reported strong year-over-year growth in its first-quarter 2024 results, with revenue increasing by 8.6% to $10.7 billion and diluted EPS rising 9.1% to $2.88, indicating improved profitability Q1 2024 Key Financial Metrics (vs. Q1 2023) | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Revenue | $10.7 billion | $9.9 billion | +8.6% | | Operating Earnings | $1.0 billion | $0.9 billion | +10.4% | | Operating Margin | 9.7% | 9.5% | +20 bps | | Diluted EPS | $2.88 | $2.64 | +9.1% | [Management Commentary](index=1&type=section&id=Management%20Commentary) The Chairman and CEO highlighted solid operating results, including growth in revenue, backlog, and margins, with the FAA certification of the Gulfstream G700 enabling customer deliveries and signaling a strong start to 2024 - The company delivered solid operating results, growing revenue and backlog while expanding margins[2](index=2&type=chunk) - A significant milestone was the recent FAA certification of the Gulfstream G700, allowing customer deliveries to begin[2](index=2&type=chunk) [Cash Flow and Capital Deployment](index=1&type=section&id=Cash%20Flow%20and%20Capital%20Deployment) In Q1 2024, the company used $278 million in cash from operating activities due to working capital growth, with capital deployment including $159 million in capital expenditures, $361 million in dividends, and $105 million in share repurchases - Net cash used by operating activities was **$278 million**, driven by growth in operating working capital[2](index=2&type=chunk) Q1 2024 Capital Deployment | Activity | Amount (in millions) | | :--- | :--- | | Capital Expenditures | $159 | | Dividends Paid | $361 | | Share Repurchases | $105 | [Backlog and New Orders](index=1&type=section&id=Backlog%20and%20New%20Orders) The company-wide backlog grew 4.4% year-over-year to $93.7 billion with a consolidated book-to-bill ratio of 1-to-1, driven by strong orders in Aerospace, Combat Systems, and Technologies Backlog Summary (as of Q1 2024) | Metric | Value (in billions) | YoY Change | | :--- | :--- | :--- | | Total Backlog | $93.7 | +4.4% | | Total Estimated Contract Value | $134.0 | +4.4% | | Aerospace Backlog | $20.5 | +6.2% | - The consolidated book-to-bill ratio was **1-to-1** for the quarter[4](index=4&type=chunk) - Book-to-bill ratios were particularly strong in Aerospace (**1.2-to-1**), Combat Systems (**1.6-to-1**), and Technologies (**1.2-to-1**)[5](index=5&type=chunk)[6](index=6&type=chunk) [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statement of Earnings (Exhibit A)](index=3&type=section&id=Consolidated%20Statement%20of%20Earnings%20%28Exhibit%20A%29) For the first quarter, revenue grew 8.6% to $10.73 billion, and operating earnings increased 10.4% to $1.04 billion, resulting in a 9.5% rise in net earnings to $799 million and a diluted EPS of $2.88 Q1 2024 Consolidated Statement of Earnings (in millions) | Line Item | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $10,731 | $9,881 | 8.6% | | Operating earnings | $1,036 | $938 | 10.4% | | Net earnings | $799 | $730 | 9.5% | | Diluted EPS | $2.88 | $2.64 | 9.1% | [Revenue and Operating Earnings by Segment (Exhibit B)](index=5&type=section&id=Revenue%20and%20Operating%20Earnings%20by%20Segment%20%28Exhibit%20B%29) Growth was driven by strong performance in Combat Systems, Marine Systems, and Aerospace, with revenue increases of 19.7%, 11.3%, and 10.1% respectively, while operating margins expanded in Aerospace and remained flat or slightly decreased in other segments Q1 2024 Revenue by Segment (YoY Change) | Segment | Revenue (in millions) | % Change | | :--- | :--- | :--- | | Aerospace | $2,084 | 10.1% | | Marine Systems | $3,331 | 11.3% | | Combat Systems | $2,102 | 19.7% | | Technologies | $3,214 | (0.8)% | Q1 2024 Operating Earnings by Segment (YoY Change) | Segment | Operating Earnings (in millions) | % Change | | :--- | :--- | :--- | | Aerospace | $255 | 11.4% | | Marine Systems | $232 | 10.0% | | Combat Systems | $282 | 15.1% | | Technologies | $295 | (1.3)% | [Consolidated Balance Sheet (Exhibit C)](index=6&type=section&id=Consolidated%20Balance%20Sheet%20%28Exhibit%20C%29) As of March 31, 2024, total assets slightly increased to $55.2 billion, while cash and equivalents decreased to $1.0 billion, and inventories and unbilled receivables grew, with total debt and shareholders' equity remaining stable Key Balance Sheet Items (in millions) | Account | March 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and equivalents | $1,036 | $1,913 | | Inventories | $9,589 | $8,578 | | Total assets | $55,246 | $54,810 | | Long-term debt | $8,752 | $8,754 | | Total shareholders' equity | $21,410 | $21,299 | [Consolidated Statement of Cash Flows (Exhibit D)](index=7&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows%20%28Exhibit%20D%29) The company reported a net cash outflow from operating activities of $278 million, a significant shift from the prior year's inflow, primarily driven by increases in inventories and unbilled receivables, while net cash used in investing and financing activities remained consistent Q1 Cash Flow Summary (in millions) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash from operating activities | $(278) | $1,462 | | Net cash used by investing activities | $(182) | $(190) | | Net cash used by financing activities | $(416) | $(475) | | Net change in cash | $(877) | $796 | - The primary drivers for the negative operating cash flow were increases in inventories (a **$1,011 million** use of cash) and unbilled receivables (a **$519 million** use of cash)[22](index=22&type=chunk) [Supplemental Data and Business Segment Details](index=8&type=section&id=Supplemental%20Data%20and%20Business%20Segment%20Details) [Additional Financial Information (Exhibit E)](index=8&type=section&id=Additional%20Financial%20Information%20%28Exhibit%20E%29) The company's debt-to-equity ratio remained stable at 43.2%, but free cash flow was negative $437 million for the quarter due to negative operating cash flow, leading to an increase in net debt to $8.2 billion Non-GAAP Free Cash Flow (in millions) | Line Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash from operating activities | $(278) | $1,462 | | Capital expenditures | $(159) | $(161) | | **Free cash flow** | **$(437)** | **$1,301** | Key Financial Ratios | Metric | March 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Debt-to-equity | 43.2% | 43.5% | | Net Debt (in millions) | $8,223 | $7,348 | [Backlog Details (Exhibit F)](index=9&type=section&id=Backlog%20Details%20%28Exhibit%20F%29) Total backlog at the end of Q1 2024 was $93.7 billion, with Marine Systems holding the largest share, and the total estimated contract value, including potential options, stood at $134.0 billion Backlog by Segment (Q1 2024, in millions) | Segment | Funded Backlog | Unfunded Backlog | Total Backlog | | :--- | :--- | :--- | :--- | | Aerospace | $19,564 | $981 | $20,545 | | Marine Systems | $29,711 | $14,415 | $44,126 | | Combat Systems | $14,923 | $686 | $15,609 | | Technologies | $8,976 | $4,478 | $13,454 | | **Total** | **$73,174** | **$20,560** | **$93,734** | [Significant Orders (Exhibit G)](index=12&type=section&id=Significant%20Orders%20%28Exhibit%20G%29) The defense segments secured numerous significant contracts in the first quarter, including major IDIQ contracts for ammunition and C4ISR systems, and substantial orders for combat vehicles and ship maintenance - **Combat Systems:** - IDIQ contract for medium-caliber ammunition for the U.S. Army with a maximum potential value of **$3 billion** (among two awardees)[43](index=43&type=chunk)[45](index=45&type=chunk) - **$1.3 billion** from Austria for Pandur 6x6 wheeled combat vehicles (max potential value of **$2 billion**)[43](index=43&type=chunk)[45](index=45&type=chunk) - **Technologies:** - Four IDIQ contracts from Canada for the Land C4ISR system with a maximum potential value of **$1.3 billion**[44](index=44&type=chunk)[45](index=45&type=chunk) - **$505 million** in key contracts for classified customers (max potential value of **$995 million**)[44](index=44&type=chunk)[45](index=45&type=chunk) - **Marine Systems:** - **$310 million** from the U.S. Navy for maintenance, modernization, and repair work on the USS Bataan[42](index=42&type=chunk)[45](index=45&type=chunk) [Aerospace Supplemental Data (Exhibit H)](index=13&type=section&id=Aerospace%20Supplemental%20Data%20%28Exhibit%20H%29) The Aerospace segment delivered 24 aircraft in Q1 2024, an increase from the prior year, and demonstrated strong demand with new orders of $2.4 billion, resulting in a book-to-bill ratio of 1.2-to-1 Gulfstream Aircraft Deliveries (units) | Cabin Size | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Large-cabin | 21 | 17 | | Mid-cabin | 3 | 4 | | **Total** | **24** | **21** | - The Aerospace segment achieved a book-to-bill ratio of **1.2x** for the quarter, with orders of **$2.426 billion** against revenue of **$2.084 billion**[47](index=47&type=chunk)

RobertDupuis/E+ via Getty Images Thesis Geopolitical volatility has been on the rise. The enterprises that thrive in such an environment are the shipping, energy, and defense industries. I have discussed shipping extensively in my articles. Now, it is time to venture into my two favorite industries: energy and defense. Today’s article discusses General Dynamics (NYSE:GD), one of the major defense contractors in the US. GD is one of two enterprises building nuclear-powered submarines for the US Navy (the ...

General Dynamics Corp.’s (GD) Land Systems business unit recently secured a contract to provide technical support for its Abrams battle tank system. The award has been offered by the Army Contracting Command, Detroit Arsenal, MI.Valued at $22 million, the contract is expected to be completed by Jan 15, 2025. Work related to this deal will be executed in Sterling Heights, MI.What’s Favoring General Dynamics?Over the past few years, there has been a significant expansion in military spending by nations across ...

General Dynamics Corp.’s (GD) Land Systems recently clinched a contract to provide technical support for the Stryker battle tank system. The contract has been awarded by the Army Contracting Command, Detroit Arsenal, MI.Valued at $518.8 million, the contract is expected to be completed by Mar 31, 2029.What’s Favoring General Dynamics?Over the past few years, there has been a significant expansion in military spending by nations across the globe. This is because the countries are increasingly focused on mode ...

General Dynamics Corp.’s (GD) Land Systems business unit recently clinched a modification contract to offer technical support for its Abrams battle tank system. The award has been provided by the Army Contracting Command, Detroit Arsenal, MI.Valued at $12.4 million, the contract is expected to be completed by Feb 27, 2027. Work related to this deal will be executed in Sterling Heights, MI.What’s Favoring General Dynamics?Over the past few years, there has been a significant expansion in military spending by ...