General Dynamics Corp Stock Price, News & Analysis

General Dynamics (NYSE: GD) reported Q3 2022 earnings with revenue of $10 billion, a 4.3% increase year over year. Net earnings reached $902 million, up 4.9%, and diluted EPS was $3.26, marking a 6.2% rise. The company generated free cash flow of $1 billion, accounting for 114% of net earnings. Strong demand in Aerospace, Combat Systems, and Marine Systems led to a backlog of $88.8 billion and a total estimated contract value of $125.8 billion by quarter's end. Recent contract awards totaled over $4 billion.

General Dynamics (NYSE: GD) will host a live webcast of its third-quarter 2022 financial results conference call on October 26 at 9 a.m. EDT. The event will be accessible at www.gd.com, with a recording available shortly afterward. This announcement highlights the company's commitment to transparency and shareholder engagement as it prepares to discuss its financial performance for the period.

General Dynamics Electric Boat, a unit of General Dynamics (NYSE: GD), has received a contract modification valued at $532.9 million from the U.S. Navy for support related to Virginia-class submarines. The work will take place in Groton, Connecticut, and Newport News, Virginia, with completion expected by October 2023. Kevin Graney, president of Electric Boat, emphasized the importance of this contract in maintaining the submarines' advanced warfighting capabilities for the U.S. Navy.

Epirus and General Dynamics (GD) have successfully integrated Epirus' Leonidas high-power microwave system with the Stryker combat vehicle, a year after their strategic teaming agreement. This collaboration resulted in the development of the Stryker Leonidas, which was demonstrated in the field by disabling drone targets. The integration enhances counter-electronics capabilities critical for countering threats from swarming drones. The Stryker Leonidas will be showcased at the AUSA Annual Meeting in Washington, D.C., highlighting its mobile protection features for U.S. Army operations.

On October 10-12, 2022, General Dynamics (NYSE:GD) will showcase its innovative defense technologies at the Association of the U.S. Army's Annual Meeting & Exposition in Washington, D.C. Key products include the AbramsX main battle tank, StrykerX vehicle, and the TRX Breacher robot. The company will also present advanced solutions like the Google Anthos platform for tactical operations and various command and control systems. General Dynamics aims to enhance military capabilities while supporting climate initiatives through hybrid technologies.

General Dynamics (GD) has been awarded a $1.148 billion Foreign Military Sales order from the U.S. Army to deliver 250 M1A2 SEPv3 Abrams tanks to Poland. This state-of-the-art configuration offers advanced features in communication, fire control, reliability, sustainment, and fuel efficiency. Chris Brown, GD's VP of global strategy, highlighted the importance of this deal in strengthening alliances. General Dynamics, which generated $38.5 billion in revenue in 2021, continues to demonstrate its commitment to providing critical military capabilities.

General Dynamics NASSCO has secured $1.4 billion in U.S. Navy contract modifications for constructing a sixth Expeditionary Sea Base ship (ESB 8) and two fleet oilers (T-AO 211 and T-AO 212). This funding complements an earlier $600 million for long-lead materials, bringing total potential contract value to $2.7 billion. Construction will start in Q3 2023 and extend until 2027. This initiative enhances the Navy's capabilities and ensures sustained growth for General Dynamics NASSCO's workforce, as stated by President Dave Carver.

On August 3, 2022, General Dynamics (NYSE: GD) declared a regular quarterly dividend of $1.26 per share on its common stock. This dividend is payable on November 10, 2022, to shareholders of record as of October 7, 2022. General Dynamics, a leading global aerospace and defense company, reported $38.5 billion in revenue for 2021 and employs over 100,000 people globally. For more information, visit www.gd.com.

General Dynamics Electric Boat has received a $697.9 million contract modification from the U.S. Navy for the repair, maintenance, and modernization of the submarine USS Hartford (SSN 768). This project, which will take place at the Groton, Connecticut shipyard, is set to be completed by October 2026. The USS Hartford, a Los Angeles-class submarine commissioned in 1994, will benefit from an engineered overhaul enhancing its warfighting capabilities and extending its service life. General Dynamics Electric Boat is part of the broader General Dynamics company.