General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people across 65 countries worldwide and generated $42.3 billion in revenue in 2023. More information about General Dynamics is available at www.gd.com. SOURCE General Dynamics RESTON, Va., June 5, 2024 /PRNewswi ...

General Dynamics Corp.'s (GD) business unit, Land Systems, recently secured a modification contract to provide technical support for Abrams System. The award has been provided by the Army Contracting Command, Detroit Arsenal, MI. Valued at 10.1 million, the contract is expected to be completed by May 16, 2025. Work related to this deal will be completed by Sterling Heights, MI. What's Favoring General Dynamics? Over the past few years, there has been a significant expansion in military spending by nations a ...

Core Viewpoint - General Dynamics Information Technology (GDIT) has secured a $185 million contract to provide cybersecurity services to the U.S. Air Force, highlighting the growing demand for cybersecurity in defense sectors amid rising geopolitical tensions [1][2][3]. About the Contract - GDIT will research and develop new techniques to mitigate cybersecurity threats to the Air Force's industrial control systems, which encompass building automation, life safety, utility monitoring, and airport control [2]. - The contract will be executed at 188 installations globally, utilizing GDIT's cybersecurity and zero trust capabilities [2]. Growth Prospects - The Defense Cybersecurity market is projected to grow at a CAGR of 12.82% from 2024 to 2029, driven by the increasing sophistication of cyber-attacks [5]. - General Dynamics is well-positioned to capitalize on this growth, with its GDIT unit offering proactive cybersecurity services and innovative solutions like the Everest Zero Trust [6]. Peer Prospects - Other defense contractors benefiting from the growing Defense Cybersecurity market include Northrop Grumman, Lockheed Martin, and BAE Systems, each with their own advanced cybersecurity solutions and positive growth forecasts [8][9][10][11]. Price Movement - Over the past three months, General Dynamics shares have increased by 11.2%, contrasting with a 0.2% decline in the industry [12].

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].

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 ...