General Dynamics Corp Stock Price, News & Analysis

General Dynamics Electric Boat, a unit of General Dynamics (NYSE: GD), has been awarded a $1.3 billion contract modification for purchasing long lead time materials for Virginia Class Block VI submarines. This modification is important for enabling suppliers to invest in capacity and materials needed to increase production volume. The Virginia-class submarines are designed for 21st-century mission requirements, including anti-submarine and surface ship warfare.

General Dynamics Electric Boat, headquartered in Groton, Connecticut, is the prime contractor and lead design yard for the Virginia class. The company employs over 23,000 people and constructs the submarines in partnership with HII's Newport News Shipbuilding. General Dynamics, the parent company, generated $42.3 billion in revenue in 2023 and employs more than 100,000 people worldwide.

General Dynamics (NYSE:GD) has announced leadership changes at its Electric Boat subsidiary. Kevin Graney, the current president of Electric Boat, will retire at the end of the year. He will be succeeded by Mark Rayha, currently serving as senior vice president and chief operating officer, effective December 1. Graney has been with General Dynamics for nearly 30 years, holding leadership roles at both NASSCO and Electric Boat. Rayha, a 35-year veteran of the company, has experience as CFO and COO of Electric Boat.

General Dynamics, a global aerospace and defense company, employs over 100,000 people across 65 countries and generated $42.3 billion in revenue in 2023. The company offers a broad portfolio of products and services in business aviation, ship construction and repair, land combat vehicles, weapons systems, munitions, and technology products and services.

General Dynamics (NYSE: GD) reported strong second-quarter 2024 financial results, with revenue up 18% to $12 billion and operating earnings increasing 20.2% to $1.2 billion compared to Q2 2023. Diluted EPS rose 20.7% to $3.26, while operating margin expanded by 20 basis points to 9.7%. The company saw growth across all key measures, with notable strength in Technologies and Combat Systems segments.

Gulfstream delivered 37 aircraft in Q2, including 31 large-cabin models, up from 24 deliveries in the year-ago quarter. The company's backlog stood at $91.3 billion, with total estimated contract value reaching $129.8 billion. Significant defense orders totaled $7.4 billion, with Combat Systems achieving a book-to-bill ratio of 1.5-to-1.

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.

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.

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.

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.

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.

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.