General Dynamics Corp. (NYSE: GD) reported third-quarter results that surpassed Wall Street expectations, driven by solid performance across its defense and aerospace segments.
The company posted adjusted earnings per share of $3.88, beating analyst estimates of $3.69. Revenue grew 10.6% year-over-year to $12.9 billion, above the consensus forecast of $12.46 billion.
Aerospace led the gains with revenue surging 30.3% from the same quarter last year and margins expanding by 100 basis points. Overall operating margin improved to 10.3%, representing a 20-basis-point increase from the prior-year period and a 30-basis-point sequential rise.
Order activity remained robust, with a company-wide book-to-bill ratio of 1.5-to-1. Defense segments achieved a ratio of 1.6-to-1, while Aerospace recorded 1.3-to-1. Total orders for the quarter reached $19.3 billion, bringing General Dynamics’ backlog to $109.9 billion.
