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General Dynamics Corp (GD) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

General Dynamics Corp

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CIK: 1478087 Ticker: GD



Exhibit 99.1 
 
gdlogo-20190630.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

July 24, 2019

General Dynamics Reports Second-Quarter 2019 Results

•
Revenue of $9.6 billion, up 4% year-over-year
•
Diluted earnings per share of $2.77, up 5.7% year-over-year
•
Gulfstream G600 achieves FAA certification

FALLS CHURCH, Va. – General Dynamics (NYSE: GD) today reported second-quarter 2019 revenue of $9.6 billion, up 4 percent year-over-year, with net earnings of $806 million. Diluted earnings per share were $2.77, an increase of 5.7 percent year-over-year.

Operating margins increased sequentially by 50 basis points over the previous quarter to 11.4 percent. In June, the all-new Gulfstream G600 earned both its type and production certificates from the U.S. Federal Aviation Administration.

“Our second-quarter results reflect our relentless focus on driving down costs and improving performance,” said Phebe Novakovic, chairman and chief executive officer. “That focus on performance remains unwavering as we ramp up production of new aircraft, begin construction of both a new block and new class of submarines, and solidify our market-leading position in Information Technology.”

Backlog
General Dynamics’ total backlog at the end of second-quarter 2019 was $67.7 billion. Estimated potential contract value, representing management’s estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $34.2 billion. Total estimated contract value, the sum of all backlog components, was $101.9 billion, up 3 percent year-over-year.

Order activity remained strong across the aerospace and defense portfolios. Aerospace booked $2.2 billion in orders in the quarter, a 1-to-1 book-to-bill on 12.7 percent year-over-year revenue growth. Significant awards in defense portfolios in the quarter included $495 million from the U.S. Navy for industrial base development and expansion in support of the Columbia-class ballistic missile submarine program, $360 million in contracts to provide intelligence services to classified customers, $270 million from the Navy to support the joint U.S. and U.K. development of the submarine Common Missile Compartment and


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The following information was filed by General Dynamics Corp (GD) on Wednesday, July 24, 2019 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
Consolidated Statement Of Cash Flows (Unaudited)
Consolidated Statement Of Comprehensive Income (Unaudited)
Consolidated Statement Of Earnings (Unaudited)
Consolidated Statement Of Shareholders' Equity (Unaudited)
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Acquisitions And Divestitures, Goodwill And Intangible Assets - Fair Value Of Assets Acquired And Liabilities Assumed (Details)
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Commitments And Contingencies - Product Guarantee (Details)
Condensed Consolidating Financial Statements
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Condensed Consolidating Financial Statements - Additional Information (Details)
Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheet (Details)
Condensed Consolidating Financial Statements - Condensed Consolidating Statements Of Cash Flows (Unaudited) (Details)
Condensed Consolidating Financial Statements - Condensed Consolidating Statements Of Earnings (Unaudited) (Details)
Debt
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Debt (Tables)
Debt - Additional Information (Details)
Derivative Financial Instruments And Hedging Activities
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Earnings Per Share
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Leases - Components Of Lease Costs (Details)
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Revenue - Impact Of Adjustments In Contract Estimates (Details)
Revenue - Remaining Performance Obligations To Be Recognized As Revenue (Details)
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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: 0000040533-19-000048
Submitted to the SEC: Wed Jul 24 2019 7:07:09 AM EST
Accepted by the SEC: Wed Jul 24 2019
Period: Sunday, June 30, 2019
Industry: Ship And Boat Building And Repairing

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