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General Dynamics Corp (GD) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

General Dynamics Corp

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CIK: 1478087 Ticker: GD



Exhibit 99.1 
 
gdlogo-20180930.gif
2941 Fairview Park Drive, Suite 100
 
 
Falls Church, VA 22042-4513
 
News
www.generaldynamics.com
 

Contact: Jeff A. Davis
Tel: 703 876 3483
press@generaldynamics.com

October 24, 2018

General Dynamics Reports Third-Quarter 2018 Results

•
Revenue up 20% year-over-year to $9.1 billion
•
Earnings from continuing operations up 13.1% to $864 million
•
Diluted EPS from continuing operations up 14.7% year-over-year to $2.89

FALLS CHURCH, Va. – General Dynamics (NYSE: GD) today reported third-quarter 2018 earnings from continuing operations of $864 million, a 13.1 percent increase over third-quarter 2017. Revenue increased 20 percent to $9.1 billion. While a large portion of the growth was attributed to the acquisition of CSRA, revenue in all segments grew.

Diluted earnings per share (EPS) from continuing operations were $2.89 compared to $2.52 in the year-ago quarter, a 14.7 percent increase.

“We took action this quarter to streamline our portfolio, drive out risk from our supply chain and deliver increasingly sophisticated products and services to our customers in an efficient and timely manner,” said Phebe Novakovic, chairman and chief executive officer. “We remain committed to generating steady and sustainable results from our businesses.”

Significant activities this quarter included the delivery of the Virginia-class submarine SSN 790 (future USS South Dakota), the keel-laying of the first John Lewis-class fleet replenishment oiler and the continued integration of CSRA.

Margin
Company-wide operating margin for the third quarter of 2018 was 12.5 percent, a 70 basis-point increase over second-quarter 2018.

Cash
Net cash provided by operating activities in the quarter totaled $790 million, compared to $872 million in the year-ago quarter. Free cash flow from operations, defined as net cash provided by operating activities less capital expenditures, was $622 million, after a $255 million discretionary pension plan contribution.



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The following information was filed by General Dynamics Corp (GD) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside General Dynamics Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheet (Unaudited)
Consolidated Statement Of Cash Flows (Unaudited)
Consolidated Statement Of Comprehensive Income (Unaudited)
Consolidated Statement Of Earnings (Unaudited)
Consolidated Statement Of Shareholders' Equity (Unaudited)
- Summary Of Financial Information (Details)
Acquisitions And Divestitures, Goodwill And Intangible Assets
Acquisitions And Divestitures, Goodwill And Intangible Assets (Tables)
Acquisitions And Divestitures, Goodwill And Intangible Assets - Additional Information (Details)
Acquisitions And Divestitures, Goodwill And Intangible Assets - Changes In Amount Of Goodwill (Details)
Acquisitions And Divestitures, Goodwill And Intangible Assets - Consideration And Fair Value Of Net Assets Acquired (Details)
Acquisitions And Divestitures, Goodwill And Intangible Assets - Fair Value Of Assets Acquired And Liabilities Assumed (Details)
Acquisitions And Divestitures, Goodwill And Intangible Assets - Future Amortization Expense Of Intangible Assets Acquired (Details)
Acquisitions And Divestitures, Goodwill And Intangible Assets - Intangible Assets (Details)
Acquisitions And Divestitures, Goodwill And Intangible Assets - Unaudited Pro Forma Information (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Product Guarantee (Details)
Condensed Consolidating Balance Sheet (Details)
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements (Tables)
Condensed Consolidating Financial Statements - Additional Information (Details)
Condensed Consolidating Statements Of Cash Flows (Details)
Condensed Consolidating Statements Of Earnings (Details)
Debt
Debt (Details)
Debt (Tables)
Debt - Additional Information (Details)
Debt Debt - Scheduled Maturities Of Debt (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Fair Value
Fair Value (Details)
Fair Value (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Deferred Tax (Details)
Inventories
Inventories (Tables)
Inventory (Details)
Other Liabilities
Other Liabilities (Details)
Other Liabilities (Tables)
Retirement Plans
Retirement Plans (Details)
Retirement Plans (Tables)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Impact Of Adjustments In Contract Estimates (Details)
Revenue - Remaining Performance Obligations To Be Recognized As Revenue (Details)
Revenue - Revenue By Contract Type (Details)
Revenue - Revenue By Customer (Details)
Revenue - Revenue By Products And Services (Details)
Segment Information
Segment Information (Tables)
Segment Information Segment Information - Additional Information (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Additional Information (Details)
Shareholders' Equity - Changes In Aoci (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Unbilled Receivables
Unbilled Receivables (Details)
Unbilled Receivables (Tables)

Material Contracts, Statements, Certifications & more

General Dynamics Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: GD
CIK: 40533
Form Type: 10-Q Quarterly Report
Accession Number: 0000040533-18-000060
Submitted to the SEC: Wed Oct 24 2018 11:39:05 AM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Ship And Boat Building And Repairing

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