Record-Breaking Revenue and Growth
General Dynamics reported earnings of $3.88 per diluted share on revenue of $12.9 billion, with a 10.6% increase in revenue compared to the previous year. Operating earnings were up 12.7%, and net earnings increased by 13.9%.
Aerospace Segment Surge
The Aerospace segment led growth with a 30.3% increase in revenue compared to last year's third quarter, driven by new aircraft deliveries and higher special mission volume. Operating earnings in this segment increased by 41%.
Strong Order Momentum and Backlog
The company reported a robust order momentum with a book-to-bill ratio of 1.5:1, resulting in a record backlog of $109.9 billion, up 19% from a year ago.
Cash Flow Success
Operating cash flow for the quarter was $2.1 billion, with free cash flow at $1.9 billion, representing 179% of net income.
Combat Systems Performance
Combat Systems had a strong quarter with a book-to-bill ratio of 2:1 and backlog reaching $18.7 billion, reflecting strong demand.