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General Dynamics Corporation - GD STOCK NEWS

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General Dynamics Corporation (NYSE: GD) is a global leader in aerospace and defense, offering a broad portfolio of products and services that cater to the safety and security needs of people worldwide. Headquartered in Reston, Virginia, the company operates through four main segments: Aerospace, Marine Systems, Combat Systems, and Technologies.

Aerospace: This segment is renowned for its Gulfstream business jets, which include the recently FAA-certified G700. Gulfstream not only manufactures these aircraft but also provides comprehensive global servicing.

Marine Systems: General Dynamics' Marine Systems segment builds and services nuclear-powered submarines, destroyers, and other naval vessels. The company recently secured a significant U.S. Navy contract for maintenance and modernization projects, ensuring long-term commitments to the Navy’s fleet.

Combat Systems: This segment produces land-based combat vehicles such as the M1 Abrams tank and Stryker armored personnel carrier, along with associated munitions. The company has received major contracts from both U.S. and international defense agencies, including a new deal with Austria for Pandur 6x6 EVO wheeled armored vehicles.

Technologies: The Technologies segment includes IT services primarily for the government market and mission systems that offer command, control, computing, intelligence, surveillance, and reconnaissance capabilities. Recent achievements include a $2.5 billion contract to modernize the Indian Health Service's electronic health record system and a $450 million contract to support the Centers for Medicare and Medicaid Services.

General Dynamics employs over 100,000 people globally, maintaining a presence in 65 countries. The company generated $42.3 billion in revenue in 2023, reflecting steady growth and strong financial performance. The company’s culture of continuous improvement and innovation ensures its agility and relevance in meeting future demands. For the latest updates, financial results, and more information, visit GD.com.

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General Dynamics (NYSE: GD) announced it will webcast its second-quarter 2024 earnings results conference call on Wednesday, July 24, at 9 a.m. EDT.

The live webcast will be accessible via the company's website at www.gd.com, with a replay available shortly after the live event concludes.

For additional information, visit www.gd.com or view the original content at https://www.prnewswire.com/news-releases/general-dynamics-to-webcast-2024-second-quarter-financial-results-conference-call-302189011.html.

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General Dynamics Land Systems (GDLS) has secured a $2.58 billion CAD ($1.88 billion USD) contract with Marshall Canada to provide the Canadian Armed Forces with over 1,500 logistics vehicles, including 1,000 light trucks and 500 heavy trucks. The contract, part of the Logistics Vehicle Modernization (LVM) project, encompasses vehicle acquisition ($1.5 billion CAD) and in-service support ($1.08 billion CAD) over 25 years. GDLS will oversee integration and support services throughout the project's lifecycle. GDLS-Canada, located in London, Ontario, employs 1,800 people and specializes in armored vehicle design and manufacturing.

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General Dynamics (NYSE:GD) has appointed Elizabeth L. Schmid as the senior vice president for Government Relations and Communications. Schmid, who has been with the company since 2015, previously served as vice president for Government Relations since 2018. She succeeds Phebe N. Novakovic, chairman and CEO, who highlighted Schmid's significant contributions to the company. Schmid's prior roles include vice president for National Security and Acquisition Policy at the Aerospace Industries Association and positions within the Senate Defense Appropriations Subcommittee and the Office of the Secretary of Defense. General Dynamics, a global aerospace and defense company, employs over 100,000 people and reported $42.3 billion in revenue for 2023.

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The board of directors of General Dynamics (NYSE: GD) has declared a regular quarterly dividend of $1.42 per share on the company's common stock. The dividend will be payable on August 9, 2024, to shareholders of record as of July 5, 2024.

General Dynamics is a global aerospace and defense company offering a wide range of products and services, including business aviation, ship construction and repair, land combat vehicles, weapons systems, and technology products. The company employs over 100,000 people in 65 countries and generated $42.3 billion in revenue in 2023.

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General Dynamics Information Technology (GDIT) was awarded a $185 million task order by the U.S. Air Force Civil Engineer Center (AFCEC) to provide global cybersecurity services. This contract, granted by the 772nd Enterprise Sourcing Squadron at Tyndall Air Force Base, covers a one-year base period with four option years. GDIT will secure industrial control systems at 188 installations worldwide, enhancing building automation, life safety, utility monitoring, and airfield control systems. The company aims to mitigate cybersecurity risks using its expertise in cybersecurity and zero trust. GDIT has a longstanding partnership with the Air Force and has previously won significant contracts, including a $4.5 billion indefinite-delivery/indefinite-quantity security support services contract. General Dynamics, GDIT's parent company, generated $42.3 billion in revenue in 2023 and employs over 100,000 people globally.

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Gulfstream Aerospace, a subsidiary of General Dynamics (NYSE: GD), announced that its G700 aircraft has received type certification from the European Union Aviation Safety Agency (EASA) as of May 15, 2024. This follows the aircraft's Federal Aviation Administration (FAA) certification obtained on March 29, 2024. The G700 boasts significant performance enhancements, including a range of 7,750 nautical miles at Mach 0.85 and 6,650 nautical miles at Mach 0.90, a maximum operating speed of Mach 0.935, and the lowest cabin altitude in business aviation. The EASA certification will enable increased international deliveries, enhancing Gulfstream's global market presence. The G700 offers a spacious cabin with various configurations and advanced comfort features.

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General Dynamics reported strong first-quarter 2024 financial results with revenue of $10.7 billion, up 8.6% from the year-ago quarter. Operating earnings increased by 10.4% to $1 billion, resulting in diluted EPS of $2.88, up 9.1%. Operating margin expanded to 9.7%. The company had a solid performance in Aerospace and defense segments, with backlog reaching $93.7 billion. Cash used by operating activities was $278 million, with investments in capital expenditures, dividends, and share repurchases.
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General Dynamics (GD) to webcast first-quarter 2024 earnings results conference call on April 24 at 9 a.m. EDT.
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Gulfstream Aerospace Corp., a General Dynamics subsidiary, announces FAA certification for the all-new G700 aircraft with performance enhancements. The G700 offers increased range, speed, and cabin comfort, setting new industry standards.
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General Dynamics Information Technology (GDIT) secures a $922 million contract to modernize U.S. Central Command's IT infrastructure, enhancing operational capabilities through cloud, AI/ML, and zero trust technologies.
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FAQ

What does General Dynamics Corporation do?

General Dynamics Corporation is a global aerospace and defense company that offers products and services in business aviation, ship construction and repair, land combat vehicles, weapons systems and munitions, and technology products and services.

Where is General Dynamics headquartered?

General Dynamics is headquartered in Reston, Virginia.

Who is the CEO of General Dynamics?

Phebe Novakovic is the Chairman and Chief Executive Officer of General Dynamics.

What are the main segments of General Dynamics?

The main segments of General Dynamics are Aerospace, Marine Systems, Combat Systems, and Technologies.

What recent contracts has General Dynamics secured?

Recently, General Dynamics secured a U.S. Navy contract for ship modernization, a $450 million contract with the Centers for Medicare and Medicaid Services, and a $2.5 billion contract with the Indian Health Service, among others.

How many people work at General Dynamics?

General Dynamics employs more than 100,000 people worldwide.

What was General Dynamics' revenue in 2023?

General Dynamics generated $42.3 billion in revenue in 2023.

What products are included in the Aerospace segment?

The Aerospace segment includes Gulfstream business jets and global aircraft servicing operations.

What type of vehicles does the Combat Systems segment produce?

The Combat Systems segment produces land-based combat vehicles such as the M1 Abrams tank and the Stryker armored personnel carrier.

What does General Dynamics' Technologies segment focus on?

The Technologies segment focuses on IT services for government markets and mission systems that provide command, control, computing, intelligence, surveillance, and reconnaissance capabilities.

General Dynamics Corporation

NYSE:GD

GD Rankings

GD Stock Data

80.11B
274.36M
0.5%
86.03%
0.65%
Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing
Manufacturing
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United States of America
RESTON