Key facts
- Third-quarter profit of $4.49 per share beat analysts' estimate of $4.13.
- Revenue of $14.57 billion beat estimates of $13.73 billion.
- Total bookings were 6.8 times billings, indicating strong demand.
- Backlog reached a record $220.3 billion, up from $136.5 billion.
- Gulfstream aircraft deliveries rose to 40 from 39 year-over-year.
General Dynamics beat Wall Street expectations for the third quarter, driven by strong performance in its Gulfstream business jet and shipbuilding units. The defense contractor reported earnings per share of $4.49, exceeding the average analyst estimate of $4.13. Revenue increased by nearly 13% year-over-year to $14.57 billion, surpassing estimates of $13.73 billion. The company benefited from higher Gulfstream jet deliveries, improved aerospace margins, and robust bookings across its defense businesses, leading to a record backlog of $220.3 billion.