General Dynamics (GD) delivered a mixed performance in the third quarter of fiscal 2024, surpassing revenue expectations but missing on earnings per share. While the company saw strong growth in various segments, its Aerospace division performed exceptionally well, reflecting increased demand. This report provides a comprehensive breakdown of the company’s financial performance, including segment-wise revenue, cash flow, and backlog.
Defense and aerospace stocks have enjoyed a remarkable 2024, with the iShares US Aerospace & Defense ETF (ITA) returning 22% year-to-date. RBC analyst Ken Herbert offers insights on the industry’s outlook, including his analysis of key players like Boeing, General Electric, General Dynamics, and Airbus.
General Dynamics Information Technology (GDIT) has secured a $299 million contract to continue supporting the Pentagon’s network infrastructure. The contract will see GDIT operate and maintain the network infrastructure, optimize the IT environment, and enhance the speed, security, and reliability of the network for over 55,000 users.
General Dynamics Mission Systems, in partnership with Iridium, has been awarded a $491.6 million contract by the Space Development Agency (SDA) to design, analyze, and develop an integrated ground system for their Ground Management and Integration (GMI) program. Building on their previous success with the Tranche 1 Operations and Integration contract, General Dynamics will expand the ground system architecture to support the development of future tranches of the Proliferated Warfighter Space Architecture (PWSA).
Gulfstream Aerospace, a subsidiary of General Dynamics, has announced that the G700 aircraft has received type certification from the European Union Aviation Safety Agency (EASA), following its certification by the Federal Aviation Administration (FAA) in March 2024. The G700 boasts the largest cabin in business aviation, with a range of up to 7,750 nautical miles and a top speed of Mach 0.935, making it the fastest aircraft in the Gulfstream lineup. Its certification unlocks deliveries for international customers, expanding the next-generation fleet of G700 aircraft worldwide.
