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General Dynamics Corporation (GD)

  • Thu, Jan. 8, 2:15 PM
    • The Pentagon will request ~$51B in war funding for the next fiscal year starting Oct. 1, 20% less than the $64B Congress approved this year and the lowest since the 2001 terrorist attacks, Bloomberg reports.
    • The Overseas Contingency Operations funding will be sent to Congress in addition to basic defense spending of ~$534B when Pres. Obama offers his proposed FY 2016 federal budget on Feb. 2, according to unnamed government officials and congressional aides.
    • Related stocks: BA, NOC, LLL, LMT, GD, RTN, FLIR, KTOS, COL.
  • Dec. 23, 2014, 3:52 PM
    • General Dynamics (GD) Land Systems has been awarded a $99.7M follow-on contract for the procurement and production of M1A2 Abrams tanks for Saudi Arabia.
    • This contract extends work started in 2008 to update M1A1 and M1A2 tanks to the M1A2S configuration, which increases the efficiency and capability of the tank.
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  • Dec. 22, 2014, 10:40 AM
    • General Dynamics' (GD +0.8%) Nassco subsidiary will design and construct a mobile landing platform afloat forward staging base for the U.S. Navy under a $498M contract.
    • The base is a flexible platform and a key element in the Navy's large-scale airborne mine countermeasures mission.
    • Source: Press Release (Dec. 22 2014)
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  • Dec. 16, 2014, 9:39 AM
    • General Dynamics (GD -0.1%) Electric Boat has awarded the Babcock & Wilcox (BWC +0.5%) Nuclear Operations Group a contract to manufacture a number of missile tube assemblies from an initial order for the Ohio Replacement nuclear submarine program.
    • The work is expected to be completed in 2017.
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  • Dec. 9, 2014, 10:19 AM
    • The U.S. Navy has awarded General Dynamics (GD -1.2%) Electric Boat a $44.5M contract modification to provide a wide range of overhaul, repair and modernization services in support of nuclear submarines, floating dry-docks and other platforms at the Groton Naval Submarine Base.
    • The contract was first awarded in December 2012 and has a potential value of $222.3M over five years.
  • Dec. 3, 2014, 2:05 PM
    • General Dynamics (NYSE:GD) declares $0.62/share quarterly dividend, in line with previous.
    • Forward yield 1.71%
    • Payable Feb. 6; for shareholders of record Jan 16; ex-div Jan 14.
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  • Nov. 24, 2014, 11:02 AM
    • General Dynamics (GD +0.4%) and Smith & Wesson (SWHC +1%) are partnering to pursue the U.S. Army's Modular Handgun System solicitation to replace the M9 standard Army sidearm.
    • The two intend to submit a Modular Handgun System based on the latter's M&P Polymer Pistol platform.
    • The M&P pistol has been in production since 2005 and is used by the U.S. and law enforcement agencies worldwide.
  • Nov. 19, 2014, 10:46 AM
    • General Dynamics (GD -0.5%) has entered into an agreement with Advanced Material Engineering, a subsidiary of Singapore Technologies Kinetics (OTCPK:SGGKY), to manufacture 40mm Air Burst Ammunition for the U.S. military.
    • Vastly different than conventional ammunition, the 40mm airburst uses time-based fuse technology to compute and program the detonation time and fire at an intended target.
    • 40mm ammunition can be fired from existing U.S. Army grenade launchers such as the Mk19 and MK47.
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  • Nov. 13, 2014, 10:40 AM
    • General Dynamics (GD +1.3%) has been awarded a C$287M contract from the Government of Canada for an enhanced surveillance suite to go on Canadian LAV III Upgrade vehicles, known as LAV 6.0.
    • The upgraded surveillance system will include a 10-meter retractable mast, an Operator Control Station and a surveillance suite inclusive of radar, thermal/day and image intensification sights, laser range finder and GPS mounted on a stabilized platform.
    • Deliveries of LAV 6.0 vehicles equipped with the upgraded surveillance suite will commence in December 2016.
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  • Nov. 7, 2014, 7:47 AM
    • A Raytheon (NYSE:RTN) team including General Dynamics (NYSE:GD) has secured an initial deal consolidating oversight of rocket facilities at Cape Canaveral in Florida and Vandenberg Air Force Base in California in a contract expected to be worth as much as $2B over 10 years.
    • The team will support the launch, testing and tracking of military and commercial rocket launches.
    • RTN +0.6%; GD +0.2% premarket
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  • Oct. 22, 2014, 7:41 AM
    • Net income of $696M, or $2.06 per diluted share vs. $651M, or $1.84 per diluted share in the same quarter a year ago.
    • Total backlog at the end of the quarter was up 56% Y/Y to $74.4B.
    • Free cash flow from operations of $2.3B.
    • Q3 results
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  • Oct. 22, 2014, 7:09 AM
    • General Dynamics (NYSE:GD): Q3 EPS of $2.05 beats by $0.14.
    • Revenue of $7.75B (+0.1% Y/Y) beats by $170M.
    • Press Release
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  • Oct. 21, 2014, 5:30 PM
  • Oct. 20, 2014, 8:22 AM
    • LMI Aerospace (NASDAQ:LMIA) has secured contracts to supply both bonded fuselage panels and numerous detail parts for the recently announced business jets of General Dynamics' (NYSE:GD) subsidiary, Gulfstream Aerospace.
    • The multi-year contracts are expected to yield significant revenue for the company.
    • To accommodate the new work, LMI has added 60K sq.ft. to its Tulsa, Oklahoma, facility for processing, machining and assembly.
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  • Sep. 18, 2014, 10:19 AM
    • General Dynamics' (GD +0.6%) Advanced Information Systems unit has won a $16.2M contract by the U.S. Navy to produce, build, test and deliver Type-3 Advanced Mission Computers for the F/A-18 E/A-18G Super Hornet.
    • The integrated information processing system is designed to operate in extreme environmental conditions, processing high-speed data rates from aircraft sensors.
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  • Sep. 3, 2014, 2:56 AM
    • The British government is signing a £3.5B ($5.8B) defense contract with General Dynamics (NYSE:GD) for 589 new armored vehicles, the army's largest order for such vehicles in over 30 years.
    • The vehicle deliveries are planned to start in 2017 and will be the army's first fully digitalized armored vehicles.
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Company Description
General Dynamics Corp is an aerospace and defense company. It offers products and services in business aviation; combat vehicles, weapons systems and munitions; shipbuilding; and communication and information technology systems and solutions.