General Dynamics Corp.'s (GD) business unit, General Dynamics Information Technology ("GDIT"), recently secured a $185 million task order to provide cybersecurity services to the U.S. Air Force Civil Engineer Center. The award has been offered by the 772nd Enterprise Sourcing Squadron at Tyndall Air Force Base, FL. About the Contract Per the terms of the contract, GDIT will conduct research and create new techniques to reduce cybersecurity threats to the Air Force's industrial control systems. These systems ...

Company will secure industrial control systems at 188 installations worldwide FALLS CHURCH, Va., May 17, 2024 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:GD), announced today that it was awarded a $185 million recompete task order to provide cybersecurity services for the Air Force Civil Engineer Center (AFCEC). The task order, awarded by the 772nd Enterprise Sourcing Squadron at Tyndall Air Force Base, Fla., has a one- year base period and four ...

European Certification Paves the Way for Increased Deliveries SAVANNAH, Ga., May 15, 2024 /PRNewswire/ -- Gulfstream Aerospace Corp., a wholly owned subsidiary of General Dynamics (NYSE: GD), today announced the all-new Gulfstream G700 has received European Union Aviation Safety Agency (EASA) type certification, following the aircraft's Federal Aviation Administration (FAA) type certification on March 29. "We appreciate the support and partnership of the EASA G700 certification team in reaching this achieve ...

General Dynamics (GD) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this defense contractor have returned +0.7% over the past month versus the Zacks S&P 500 composite's -2% change. The Zacks Aerospace - Defense industry, to which General Dynamics belongs, has lost 8.1% over this period. Now the key question is: Where could the stock be headed in the near term?Although media ...

Financial Data and Key Metrics Changes - The company reported earnings of $2.88 per diluted share on revenue of $10.7 billion, with operating earnings of $1,036 million and net earnings of $799 million, representing an 8.6% increase in revenue compared to the same quarter last year [94][52]. - Operating margin improved to 9.7%, a 20-basis-point increase year-over-year [52]. - Free cash flow for the quarter was negative $437 million, primarily due to delayed G700 deliveries, but the company expects a cash conversion rate around 100% for the year [66][68]. Business Line Data and Key Metrics Changes - Aerospace revenue was $2.1 billion, with operating earnings of $255 million and a 12.2% operating margin, reflecting a 10.1% increase in revenue year-over-year [72][52]. - Combat Systems reported revenue of $2.1 billion, up almost 20% year-over-year, with earnings of $282 million, a 15.1% increase [32][52]. - Marine Systems revenue reached $3.3 billion, up 11.3% compared to the previous year [37]. Market Data and Key Metrics Changes - The total backlog increased to $93.7 billion, up 4% from a year ago, with a total estimated contract value of approximately $134 billion, up 1.5% from year-end [17][52]. - The Combat Systems group had a strong book-to-bill ratio of 1.6 to 1, while Aerospace and Technology segments each had a book-to-bill of 1.2 to 1 [16]. Company Strategy and Development Direction - The company plans to deliver 50 to 52 G700s in 2024, with expectations for improving margins in the second half of the year [75][32]. - The focus remains on increasing productivity and throughput at shipyards to meet the U.S. Navy's demand for ships, particularly submarines [40][37]. - The company is investing in AI to enhance customer solutions, particularly in GDIT and Mission Systems [205]. Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges due to inflation and geopolitical issues affecting transaction timelines but maintained a positive outlook on demand [29][127]. - The company expects a strong recovery in free cash flow in the second half of the year, driven by G700 deliveries and improved operational efficiency [66][120]. - The management emphasized the importance of stabilizing the supply chain to support increased production rates [174][186]. Other Important Information - The company repurchased approximately 390,000 shares for $105 million during the quarter [68]. - The effective tax rate for the quarter was 17.5%, aligning with full-year guidance [69]. Q&A Session Summary Question: Share repurchase strategy and balance sheet considerations - Management indicated that share repurchases will be considered in a regular order, especially in light of potential government shutdowns impacting cash flow [175]. Question: G700 delivery expectations - The company confirmed expectations to deliver 50 to 52 G700s in equal amounts throughout the second to fourth quarters [144]. Question: Combat Systems growth in Europe - Growth in Europe is driven by the heightened threat environment, leading to increased orders for combat vehicles [124]. Question: Impact of inflation on shipbuilding costs - Management acknowledged inflation as a factor but emphasized efforts to increase throughput to offset its impact [185]. Question: Status of the G400 and G800 programs - The G400 program is progressing well, with the G800 expected to achieve certification approximately nine months after the G700 [38][77]. Question: AI adoption and its impact on business - The company is actively investing in AI to support customer needs, which is expected to drive increased revenue [205].

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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [☑] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 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) Delaware 13-1673581 S ...

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 ...