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Read How General Dynamics Performed In Q2

ByAkanksha Bakshi

Jul 27, 2022
Read How General Dynamics Performed In Q2

  • General Dynamics Corp GD reported second-quarter FY22 revenue of $9.19 billion, down 0.3% year-over-year, missing the consensus of $9.41 billion.
  • EPS increased by 5.4% Y/Y to $2.75, above the consensus of $2.72.
  • Operating earnings improved 2% Y/Y to $978 million, and the margin expanded by 25 bps to 10.6%.
  • Sales by segments: Aerospace $1.87 billion (+15.1% Y/Y), Marine Systems $2.65 billion (+4.5% Y/Y), Combat Systems $1.67 billion (-12.3% Y/Y) and Technologies $3.01 billion (-5% Y/Y).
  • General Dynamics generated cash from operating activities year-to-date of $2.63 billion compared to $1.12 billion a year ago. Free cash flow was $2.26 billion.
  • Total estimated contract value, the sum of all backlog components, was $126.4 billion at the end of the quarter.
  • Q2 consolidated book-to-bill ratio was 1.1-to-1, with particular strength in the Aerospace segment driven by strong order activity for Gulfstream aircraft.
  • “Demand in the quarter was very strong in Aerospace, with margins showing steady improvement year over year. Our defense segments demonstrated solid operating performance and had several important wins,” stated chairman and CEO Phebe N. Novakovic.
  • Price Action: GD shares are trading higher by 0.37% at $218.44 during the market session on Wednesday.
  • Photo Via Company



Image and article originally from www.benzinga.com. Read the original article here.