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General Dynamics (NYSE:GD) announced Friday that it delivered a strong beat on Wall Street expectations for the third quarter of 2025, sending the stock surging post-results on robust operational performance across its segments.
The aerospace and defense giant reported total revenue of $12.907 billion, a 10.6% increase from the year-ago quarter and surpassing the consensus analyst estimate of $12.566 billion.
Diluted GAAP earnings per share (EPS) was $3.88, which handily beat the analyst estimate of $3.69, and marked a 15.8% increase year-over-year. Operating earnings were $1.3 billion, with the operating margin expanding to 10.3%, a 20-basis-point increase year-over-year.
The company saw very strong order activity in all four segments, with total orders for the quarter reaching a powerful $19.3 billion, resulting in a consolidated book-to-bill ratio of 1.5-to-1.
Defense segments achieved a 1.6-to-1 ratio, while the Aerospace segment was 1.3-to-1. The total estimated contract value stood at $167.7 billion at the end of the quarter, comprising a backlog of $109.9 billion and an estimated potential contract value of $57.8 billion.
Chairman and Chief Executive Officer Phebe Novakovic stated, “Each of our four segments grew earnings and backlog in the quarter, reflecting solid execution coupled with growing demand.”
The Aerospace segment performed impressively, with revenue increasing 30.3% to $3.234 billion. The segment’s operating margin expanded by 100 basis points year-over-year to 13.3%, driven by operating earnings of $430 million, with business jet order activity remaining very strong.
Marine Systems revenue grew 13.8% to $4.096 billion, reporting $291 million in operating earnings and a 7.1% operating margin.
Combat Systems revenue rose 1.8% to $2.252 billion, with operating earnings of $335 million and a 14.9% operating margin.
Technologies revenue declined 1.6% to $3.325 billion, reporting $327 million in operating earnings and a 9.8% operating margin.
Net cash provided by operating activities totaled $2.1 billion, equal to 199% of net earnings. Non-GAAP free cash flow was $1.897 billion. The company invested $212 million in capital expenditures and paid $403 million in dividends.
General Dynamics ended the quarter with $2.5 billion in cash and equivalents and $8 billion in total debt.
Price Action: GD shares were trading higher by 3.37% to $353.00 premarket at last check Friday.
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Posted In: GD
