US Market News
2月前
General Dynamics Reports First-Quarter 2026 Financial ResultsApril 29, 2026 7:00 AM
PR Newswire (US)
Revenue of $13.5 billion, up 10.3% from year-ago quarter, with growth in all four segmentsDiluted EPS $4.10, up 12% from year-ago quarter$2.2 billion cash from operating activities, 192% of net earningsStrong order activity, with 2-to-1 book-to-billRESTON, Va., April 29, 2026 /PRNewswire/ -- General Dynamics (NYSE: GD) today reported first-quarter 2026 operating earnings of $1.4 billion, or $4.10 per diluted share (EPS), on revenue of $13.5 billion. Compared with the year-ago quarter, revenue increased 10.3%, operating earnings and diluted EPS both increased 12%. Operating margin was 10.5%."Our businesses had a very good start to the year, delivering strong operating results and excellent cash conversion," said Phebe Novakovic, chairman and chief executive officer. "We are positioned well to drive additional performance throughout the year."Cash and Capital DeploymentNet cash provided by operating activities in the quarter totaled $2.2 billion, or 192% of net earnings. During the quarter, the company paid $405 million in dividends and invested $203 million in capital expenditures, ending the quarter with $3.7 billion in cash and equivalents on hand.Orders and BacklogOrders totaled $26.6 billion in the quarter on a companywide basis. Consolidated book-to-bill ratio, defined as orders divided by revenue, was 2-to-1 for the quarter. Book-to-bill was 2.2-to-1 for the defense segments and 1.2-to-1 for the Aerospace segment.Total estimated contract value, the sum of all backlog components, was $188.4 billion at the end of the quarter. This includes backlog of $130.8 billion and estimated potential contract value, representing management's estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, of $57.6 billion.About General DynamicsHeadquartered in Reston, Virginia, General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 110,000 people worldwide and generated $52.6 billion in revenue in 2025. More information is available at www.gd.com. WEBCAST INFORMATION: General Dynamics will webcast its first-quarter 2026 financial results conference call at 9 a.m. EDT on Wednesday, April 29, 2026. The webcast will be a listen-only audio event available at www.gd.com. An on-demand replay of the webcast will be available by telephone two hours after the end of the call through May 6, 2026, at 800-770-2030 (international: +1 609-800-9909), conference ID 4299949. Charts furnished to investors and securities analysts in connection with General Dynamics' announcement of its financial results are available at www.gd.com.This press release contains forward-looking statements (FLS), including statements about the company's future operational and financial performance, which are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "forecasts," "scheduled," "outlook," "estimates," "should" and variations of these words and similar expressions are intended to identify FLS. In making FLS, we rely on assumptions and analyses based on our experience and perception of historical trends; current conditions and expected future developments; and other factors, estimates and judgments we consider reasonable and appropriate based on information available to us at the time. FLS are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. FLS are not guarantees of future performance and involve factors, risks and uncertainties that are difficult to predict. Actual future results and trends may differ materially from what is forecast in the FLS. All FLS speak only as of the date they were made. We do not undertake any obligation to update or publicly release revisions to FLS to reflect events, circumstances or changes in expectations after the date of this press release. Additional information regarding these factors is contained in the company's filings with the SEC, and these factors may be revised or supplemented in future SEC filings. In addition, this press release contains some financial measures not prepared in accordance with U.S. generally accepted accounting principles (GAAP). While we believe these non-GAAP metrics provide useful information for investors, there are limitations associated with their use, and our calculations of these metrics may not be comparable to similarly titled measures of other companies. Non-GAAP metrics should not be considered in isolation from, or as a substitute for, GAAP measures. Reconciliations to comparable GAAP measures and other information relating to our non-GAAP measures are included in other filings with the SEC, which are available at investorrelations.gd.com.EXHIBIT ACONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED)DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
Three Months Ended
Variance
April 5, 2026
March 30, 2025
$
%
Revenue$ 13,481
$ 12,223
$ 1,258
10.3 %
Operating costs and expenses(12,061)
(10,955)
(1,106)
Operating earnings1,420
1,268
152
12.0 %
Other, net18
21
(3)
Interest, net(69)
(89)
20
Earnings before income tax1,369
1,200
169
14.1 %
Provision for income tax, net(244)
(206)
(38)
Net earnings$ 1,125
$ 994
$ 131
13.2 %
Earnings per share—basic$ 4.16
$ 3.69
$ 0.47
12.7 %
Basic weighted average shares outstanding270.2
269.0
Earnings per share—diluted$ 4.10
$ 3.66
$ 0.44
12.0 %
Diluted weighted average shares outstanding 274.1
271.7
EXHIBIT BREVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)DOLLARS IN MILLIONS
Three Months Ended
Variance
April 5, 2026
March 30, 2025
$
%
Revenue:
Aerospace$ 3,279
$ 3,026
$ 253
8.4 %
Marine Systems4,343
3,589
754
21.0 %
Combat Systems2,283
2,176
107
4.9 %
Technologies3,576
3,432
144
4.2 %
Total$ 13,481
$ 12,223
$ 1,258
10.3 %
Operating earnings:
Aerospace$ 493
$ 432
$ 61
14.1 %
Marine Systems316
250
66
26.4 %
Combat Systems310
291
19
6.5 %
Technologies339
328
11
3.4 %
Corporate(38)
(33)
(5)
(15.2) %
Total$ 1,420
$ 1,268
$ 152
12.0 %
Operating margin:
Aerospace15.0 %
14.3 %
Marine Systems7.3 %
7.0 %
Combat Systems13.6 %
13.4 %
Technologies9.5 %
9.6 %
Total10.5 %
10.4 %
EXHIBIT CCONSOLIDATED BALANCE SHEETDOLLARS IN MILLIONS
(Unaudited)
April 5, 2026
December 31, 2025ASSETS
Current assets:
Cash and equivalents$ 3,654
$ 2,333Accounts receivable2,254
2,406Unbilled receivables9,051
8,380Inventories9,177
9,232Other current assets1,919
1,897Total current assets26,055
24,248Noncurrent assets:
Property, plant and equipment, net7,503
7,525Intangible assets, net1,328
1,375Goodwill20,956
21,009Other assets3,187
3,092Total noncurrent assets 32,974
33,001Total assets$ 59,029
$ 57,249LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt $ 1,755
$ 1,006Accounts payable2,843
2,678Customer advances and deposits10,847
9,824Other current liabilities3,380
3,288Total current liabilities18,825
16,796Noncurrent liabilities:
Long-term debt6,259
7,007Other liabilities7,866
7,824Total noncurrent liabilities14,125
14,831Shareholders' equity:
Common stock482
482Surplus4,433
4,403Retained earnings44,774
44,080Treasury stock(23,053)
(22,860)Accumulated other comprehensive loss(557)
(483)Total shareholders' equity26,079
25,622Total liabilities and shareholders' equity$ 59,029
$ 57,249 EXHIBIT DCONSOLIDATED STATEMENT OF CASH FLOWS - (UNAUDITED)DOLLARS IN MILLIONS
Three Months Ended
April 5, 2026
March 30, 2025Cash flows from operating activities—continuing operations:
Net earnings$ 1,125
$ 994Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation of property, plant and equipment173
162Amortization of intangible and finance lease right-of-use assets59
61Equity-based compensation expense40
34Deferred income tax provision (benefit)286
(59)(Increase) decrease in assets, net of effects of business acquisitions:
Accounts receivable152
(317)Unbilled receivables(656)
(879)Inventories55
(92)Increase (decrease) in liabilities, net of effects of business acquisitions:
Accounts payable165
13Customer advances and deposits764
13Other, net(8)
(78)Net cash provided (used) by operating activities2,155
(148)Cash flows from investing activities:
Capital expenditures(203)
(142)Other, net1
12Net cash used by investing activities(202)
(130)Cash flows from financing activities:
Dividends paid(405)
(383)Purchases of common stock(217)
(600)Proceeds from commercial paper, net—
1,590Repayment of fixed-rate notes—
(750)Other, net(7)
(32)Net cash used by financing activities(629)
(175)Net cash used by discontinued operations(3)
(2)Net increase (decrease) in cash and equivalents1,321
(455)Cash and equivalents at beginning of period2,333
1,697Cash and equivalents at end of period$ 3,654
$ 1,242 EXHIBIT EADDITIONAL FINANCIAL INFORMATION - (UNAUDITED)DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
Non-GAAP Financial Measures:
First Quarter
2026
2025Free cash flow:
Net cash provided (used) by operating activities
$ 2,155
$ (148)Capital expenditures
(203)
(142)Free cash flow (a)
$ 1,952
$ (290)
April 5, 2026
December 31, 2025Net debt:
Total debt
$ 8,014
$ 8,013Less cash and equivalents
3,654
2,333Net debt (b)
$ 4,360
$ 5,680
Supplemental Aerospace Data:
First Quarter
2026
2025Gulfstream Aircraft Deliveries (units):
Large-cabin aircraft
31
30Mid-cabin aircraft
7
6Total
38
36
Aerospace Book-to-Bill:
Orders (c)
$ 3,843
$ 2,361Revenue
3,279
3,026Book-to-Bill Ratio
1.2x
0.8x
(a) We define free cash flow as net cash from operating activities less capital expenditures. We believe free cash flow is a useful measure for investors because it portrays our ability to generate cash from our businesses for purposes such as repaying debt, funding business acquisitions, paying dividends and repurchasing our common stock to cover dilution. We use free cash flow to assess the quality of our earnings and as a key performance measure in evaluating management.
(b) We define net debt as short- and long-term debt (total debt) less cash and equivalents. We believe net debt is a useful measure for investors because it reflects the borrowings that support our operations and capital deployment strategy. We use net debt as an important indicator of liquidity and financial position.
(c) Does not include customer defaults, liquidated damages, cancellations, foreign exchange fluctuations and other backlog adjustments. EXHIBIT FBACKLOG - (UNAUDITED)DOLLARS IN MILLIONS
Funded
Unfunded
TotalBacklog
EstimatedPotentialContract Value*
Total EstimatedContract ValueFirst Quarter 2026:
Aerospace
$ 21,172
$ 1,095
$ 22,267
$ 1,040
$ 23,307Marine Systems
40,598
23,373
63,971
12,519
76,490Combat Systems
25,532
1,383
26,915
11,770
38,685Technologies
10,818
6,869
17,687
32,272
49,959Total
$ 98,120
$ 32,720
$ 130,840
$ 57,601
$ 188,441Fourth Quarter 2025:
Aerospace
$ 20,804
$ 1,024
$ 21,828
$ 1,120
$ 22,948Marine Systems
36,808
15,532
52,340
11,823
64,163Combat Systems
26,064
1,154
27,218
14,670
41,888Technologies
9,865
6,795
16,660
33,280
49,940Total
$ 93,541
$ 24,505
$ 118,046
$ 60,893
$ 178,939First Quarter 2025:
Aerospace
$ 18,171
$ 828
$ 18,999
$ 1,090
$ 20,089Marine Systems
30,882
7,491
38,373
10,261
48,634Combat Systems
16,129
799
16,928
8,649
25,577Technologies
9,751
4,606
14,357
32,670
47,027Total
$ 74,933
$ 13,724
$ 88,657
$ 52,670
$ 141,327* The estimated potential contract value includes work awarded on unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options associated with existing firm contracts, including options and other agreements with existing customers to purchase new aircraft and aircraft services. We recognize options in backlog when the customer exercises the option and establishes a firm order. For IDIQ contracts, we evaluate the amount of funding we expect to receive and include this amount in our estimated potential contract value. The actual amount of funding received in the future may be higher or lower than our estimate of potential contract value. EXHIBIT F-1BACKLOG - (UNAUDITED)DOLLARS IN MILLIONShttps://mma.prnewswire.com/media/2967833/exhibit_f_1.jpg
View original content to download multimedia:https://www.prnewswire.com/news-releases/general-dynamics-reports-first-quarter-2026-financial-results-302756118.htmlSOURCE General Dynamics
Original: General Dynamics Reports First-Quarter 2026 Financial Results
US Market News
4月前
China's Rare Earth Grip on the U.S. Military Is About to BreakMarch 2, 2026 9:58 AM
PR Newswire (Canada)
OilPrice.com Market CommentaryNEW YORK, March 2, 2026 /CNW/ -- In a typical Chinese rare earth processing plant, 200 workers move through a maze of massive chemical tanks, risking life and limb to produce the materials that power everything from fighter jets and missile components to cellphones. Hundreds of these facilities operate across China, and they give Beijing overwhelming control over the single most critical choke point in the modern industrial economy. Companies mentioned in this release include: REalloys Inc. (ALOY), Lockheed Martin Corporation (NYSE: LMT), RTX Corporation (NYSE: RTX), The Boeing Company (NYSE: BA), Northrop Grumman Corporation (NYSE: NOC), General Dynamics Corporation (NYSE: GD).But now, in Saskatchewan, Canada, a hi-tech plant of engineers and chemists is beginning to break that monopoly.The facility is built around an AI enabled operating system that minimizes waste, reduces exposure to hazardous materials, and creates a cleaner, more secure processing chain.And one company has locked in exclusive rights to the vast majority of what that plant produces. That company is REalloys (ALOY).It operates in the part of the rare earth supply chain that barely exists outside China - the step where strategic independence is actually won or lost.As President Trump pointed out, it isn't rare earths that are critical to national security, it's the "rare processing" industry.Digging minerals out of the ground is relatively easy. Turning them into finished metals and alloys for fighter jets, drones, missile guidance systems, and advanced radar is something else entirely. That's where Western supply chains break down, and where REalloys is fighting to make a difference.The company operates its own metallization facility in Euclid, Ohio, built on nearly a decade of R&D with the U.S. Department of Energy and Department of Defense. It also holds an exclusive offtake agreement with the Saskatchewan Research Council (SRC), the government-backed group behind the AI-powered processing plant.Here's how the chain works: SRC refines rare earth feedstock sourced from allied nations across four continents. REalloys takes delivery in Ohio, converts those metals into defense-grade alloys and magnets, and has confirmed contracts with the U.S. defense industrial base.Every critical step happens on North American soil - with no Chinese chemicals, no Chinese technology, and no Chinese capital.As REalloys' Head of R&D, Andy Sherman, puts it: "Concentrates are commodities. Materials are commitments."The Pentagon doesn't buy rocks. It buys finished, defense-qualified materials.And that's exactly what this supply chain delivers.How China Accidentally Created Its Biggest CompetitionWhen REalloys (ALOY) processing partner began developing its first commercial rare earth separation facility, China controlled the overwhelming majority of global export technology. Following China's 2020 export control law, access to that technology became restricted.So the team ultimately designed and built its own separation, control and automation systems domestically – establishing independent Western rare earth processing capability.What they ended up with was an alternative to Chinese technology with better output and without the supply chain risk. As a result, the facility has automated the most labor-intensive step of rare earth processing, separating up to 17 chemically similar elements into the specific rare earths you need.In a Chinese plant, this process requires over 200 workers managing chemical tanks and adjusting valves manually. The Saskatchewan facility was able to reduce this by approximately 80 workers and an AI that receives thousands of data points every second and can make the necessary adjustments that no human team could coordinate.The plant was deliberately built at about 25-30% the capacity of a full-scale Chinese commercial facility, essentially a demonstration plant to prove the technology. At a fraction of the size, however, it already has the capability to produce much higher purity metals and higher output than Chinese plants.Commercial production is expected to start in early 2027, once the plant reaches full production REalloys (ALOY) expects to receive approximately 460 tonnes of defense-grade rare earth metals per year. That material becomes the permanent magnets inside the next generation of Western defense systems like fighter jets, missiles, and drones.Why This Matters Right NowMost people have heard that China dominates the rare earths market, about 90% of the world's rare earths are processed there. What they haven't thought through is what that actually means when the supply gets cut off.Japan figured this out decades ago and built strategic stockpiles covering two to three years of national consumption. The United States, however, has stockpiled nothing. Neither has Europe.We've been running on just-in-time supply from a country that issues rare earth export licenses on a monthly basis. If Beijing is happy with you this month, you get your allocation. If they're not, they cut it.When China briefly restricted exports last year, a Ford plant was forced to shut down almost immediately. When Trump threatened 100% tariffs, China's response was simple: no more processed rare earths. Trump backed off very quickly.Now consider the effects on the military side. In 2024, Ukraine produced 1.2 million combat drones, every single magnet in every one of them was manufactured in China. An F-35 carries 435 kilos of rare earths. A next-gen U.S. destroyer needs 4.5 tons. A nuclear submarine needs 1.5 tons.Without a secure supply of these materials, none of those systems get built, which means China effectively holds a kill switch over Western defense production.The Pentagon knows it, too. That's why new procurement rules taking effect January 1, 2027, will ban Chinese-sourced rare earths from the entire U.S. defense supply chain, from the mine all the way through to the finished product. That means every defense contractor in the country will need a qualified, non-Chinese source. REalloys is positioning to be that source."1% Reliance on China Is 100% Reliance on China"There's a reality in the rare earth industry that most companies haven't seemed to fully consider: 1% reliance on China is 100% reliance on China. If any single input in your supply chain comes from Beijing, your entire operation is one phone call away from shutting down. REalloys' (ALOY) supply chain has no Chinese inputs at any stage, processing technology, furnaces, chemicals, AI systems, or consumables. All of it is sourced outside China.Most of the competition can't say the same. You can mine rare earths in the U.S., build your own processing plant, and still be one supply disruption away from a shutdown. That's because critical parts like graphite anodes need replacing several times a week, and right now they only come from China. Starting from zero, it would realistically take five to seven years to build what REalloys already has.What Makes This Opportunity DifferentREalloys has exclusive rights to defense-grade rare earth metals through the Saskatchewan facility, including the heavy rare earths, Dysprosium and Terbium, that dramatically increase a magnet's performance. Light rare earths go into washing machines and consumer EVs. Heavy rare earths, on the other hand, go into F-35 fighter jet engines and missile guidance systems. REalloys plays the scarcer, more strategically critical end of the market, at a fraction of the valuation.Their Ohio facility converts those metals into finished alloys and magnets, and scaled production is expected to scale up to 18,000 tonnes per year of heavy rare earth permanent magnets. At that level, REalloys expects to become the largest producer of refined Dysprosium and Terbium outside of China.Washington has taken notice as well. REalloys has secured a $200 million letter of intent from the U.S. EXIM Bank. And the board reads less like a commodities company and more like a national security briefing, including a former Vice Chief of Staff of the U.S. Army, the President of GM Defense, an executive formerly from top defense companies like Raytheon and Boeing, the former Premier of Saskatchewan, and the President of Palantir Canada.The Pentagon's deadline is now months away, while competitors are still 5 to 7 years behind. REalloys (ALOY) expects to be the only company with a fully operational, non-Chinese, mine-to-magnet supply chain when it arrives, powered by six people and an AI that outperforms plants with 80 workers on the floor.Despite what most believe, the rare earth story was never about who has the raw material in the ground. It's about who can turn the raw material into something the Pentagon can actually use, and right now, that answer seems to be REalloys.Here are other companies in the defense sector that people should be watching closely over the coming months:Lockheed Martin Corporation (NYSE: LMT) remains the backbone of the U.S. defense industrial base, anchored by its leadership in advanced combat aircraft, missile systems, and integrated air and missile defense. The company's F-35 Lightning II program continues to serve as the single largest weapons system program in the world, supplying not only the U.S. military but also a growing list of allied nations.Beyond fighter jets, Lockheed is deeply embedded in missile defense architecture through systems such as THAAD and PAC-3 interceptors, both of which have seen rising demand amid renewed Middle East and Indo-Pacific tensions.RTX Corporation (NYSE: RTX), formed from the merger of Raytheon and United Technologies, has evolved into one of the most diversified defense and aerospace platforms globally. Its portfolio spans missile defense systems, advanced radars, aircraft engines, avionics, and cybersecurity solutions, giving it exposure across air, land, sea, and space domains.Raytheon's Patriot missile system remains one of the most widely deployed air defense platforms worldwide and has seen renewed demand amid heightened missile threats. RTX has also benefited from increased orders for interceptors and replenishment contracts, particularly as governments seek to strengthen layered defense systems.The company has recently focused on stabilizing margins following supply chain disruptions and cost overruns that impacted certain aerospace programs. With backlog levels remaining robust, RTX's revenue visibility remains strong, supported by long-term government contracts and allied defense procurement.While The Boeing Company (NYSE: BA) is widely known for commercial aviation, its defense, space, and security division remains a cornerstone of U.S. military procurement. The company manufactures the P-8 Poseidon maritime patrol aircraft, the KC-46 aerial refueling tanker, Apache helicopters, and various satellite and space systems critical to U.S. defense infrastructure.As geopolitical tensions elevate demand for surveillance, refueling capacity, and integrated aerospace systems, Boeing's defense division provides an important stabilizing component to the broader company profile. While commercial aviation cycles remain volatile, Boeing's defense segment ensures long-duration contract visibility and sustained Pentagon exposure.Northrop Grumman Corporation (NYSE: NOC) occupies a critical role in high-end aerospace and strategic systems. The company is the prime contractor for the B-21 Raider stealth bomber, one of the most strategically significant modernization programs in the U.S. Air Force's history. That program alone provides decades of potential production and sustainment revenue.Northrop also leads in unmanned aerial systems, missile defense integration, and space-based sensor technologies. Its exposure to next-generation aerospace and advanced stealth platforms places it at the center of U.S. long-term deterrence strategy.General Dynamics Corporation (NYSE: GD) combines shipbuilding, combat vehicles, aerospace, and IT systems under one diversified umbrella. The company's Electric Boat division produces Virginia-class submarines and Columbia-class ballistic missile submarines — programs that anchor U.S. naval deterrence.Recent submarine contracts extend production visibility well into the next decade, while geopolitical tensions continue to emphasize naval force projection and undersea capability. GD's land systems division.By. Tom KoolIMPORTANT NOTICE AND DISCLAIMER FORWARD LOOKING STATEMENTS
This publication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. The Publisher notes that statements contained herein that look forward in time, which include everything other than historical information, involve risks and uncertainties that may affect the companies' actual results of operations. Factors that could cause actual results to differ include, but are not limited to, changing governmental laws and policies concerning, among other things, recreational and medical cannabis sales, success of the company's proprietary technology, the size and growth of the market for the company's products and services, the company's ability to fund its capital requirements in the near term and long term, pricing pressures, etc. SHARE OWNERSHIP
Neither the author nor the publisher, Oilprice.com, was paid to publish this communication concerning REalloys (ALOY). However, the owner of Oilprice.com owns shares and/or stock options of the featured company and therefore has an incentive to see the featured company's stock perform well. The owner of Oilprice.com may buy or sell shares of the featured company at any time including at or near the time you receive this communication. This share ownership should be viewed as a major conflict with our ability to be unbiased. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities.This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position. The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company's SEC, SEDAR and/or other government filings. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. This communication is based on information generally available to the public and does not contain any material, non-public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher cannot guarantee the accuracy or completeness of the information.INDEMNIFICATION/RELEASE OF LIABILITY
By reading this communication, you acknowledge that you have read and understand this disclaimer, and further that to the greatest extent permitted under law, you release the Publisher, its affiliates, assigns and successors from any and all liability, damages, and injury from this communication. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.TERMS OF USE
By reading this communication you agree that you have reviewed and fully agree to the Terms of Use found here http://oilprice.com/terms-and-conditions If you do not agree to the Terms of Use http://oilprice.com/terms-and-conditions, please contact Oilprice.com to discontinue receiving future communications.INTELLECTUAL PROPERTY
Oilprice.com is the Publisher's trademark. All other trademarks used in this communication are the property of their respective trademark holders. The Publisher is not affiliated, connected, or associated with, and is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks.Contact:
OilPrice.com
+44 203 239 4080
info@oilprice.com
View original content:https://www.prnewswire.com/news-releases/chinas-rare-earth-grip-on-the-us-military-is-about-to-break-302701143.htmlSOURCE OilPrice.com
Original: China's Rare Earth Grip on the U.S. Military Is About to Break
US Market News
5月前
General Dynamics Reports Fourth-Quarter and Full-Year 2025 Financial ResultsJanuary 28, 2026 12:00 PM
PR Newswire (US)
Fourth-quarter net earnings of $1.1 billion, diluted EPS of $4.17, on $14.4 billion in revenueFull-year net earnings of $4.2 billion, diluted EPS of $15.45, on $52.6 billion in revenue$1.6 billion cash provided by operating activities in the quarter, 137% of net earnings$1.2 billion in capital expenditures for the year, up 27% from 2024Book-to-bill of 1.6x in the quarter and 1.5x for the full year, ending the year with $118 billion in backlogRESTON, Va., Jan. 28, 2026 /PRNewswire/ -- General Dynamics (NYSE: GD) today reported quarterly net earnings of $1.1 billion on revenue of $14.4 billion. Diluted earnings per share (EPS) was $4.17.For the full year, net earnings were $4.2 billion, up 11.3% from 2024, on revenue of $52.6 billion, up 10.1% from 2024. Diluted EPS for the full year was $15.45, up 13.4% from 2024."We had a solid fourth quarter, capping off a year that saw growth in revenue and earnings in all four segments coupled with an impressive 30% growth in company-wide backlog," said Phebe N. Novakovic, chairman and chief executive officer. "As we focus on execution of programs for our customers, we are also preparing aggressively for future growth, investing nearly $1.2 billion in capital expenditures in 2025 – with even more investments planned in the year ahead."Cash
Cash provided by operating activities in the quarter totaled $1.6 billion, or 137% of net earnings. For the year, cash provided by operating activities increased by $1 billion over 2024 to $5.1 billion, or 122% of net earnings.During the year, the company invested $1.2 billion in capital expenditures, made tax payments of $568 million, reduced total debt by $749 million and paid dividends of $1.6 billion, ending 2025 with $2.3 billion in cash and equivalents on hand.Orders and Backlog
Demand remained strong across the company, with orders of $22.4 billion during the quarter. Consolidated book-to-bill ratio, defined as orders divided by revenue, was 1.6-to-1 for the quarter and 1.5-to-1 for the year, with full-year book-to-bill exceeding 1-to-1 in each of the four segments. The company ended the year with backlog of $118 billion and estimated potential contract value, representing management's estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, of $60.9 billion. Total estimated contract value, the sum of all backlog components, was $179 billion at year end, up 24% from a year earlier.About General Dynamics
Headquartered in Reston, Virginia, General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapon systems and munitions; and technology products and services. General Dynamics employs more than 110,000 people worldwide and generated $52.6 billion in revenue in 2025. More information is available at www.gd.com.WEBCAST INFORMATION: General Dynamics will webcast its fourth-quarter and full-year 2025 financial results conference call today at 9 a.m. EST. The webcast will be a listen-only audio event available at GD.com. An on-demand replay of the webcast will be available by telephone two hours after the end of the call through February 4, 2026, at 800-770-2030 (international +1 647-362-9199), conference ID 4299949. Charts furnished to investors and securities analysts in connection with the announcement of financial results are available at GD.com. General Dynamics intends to supplement those charts on its website after its earnings call today to include information about 2026 guidance presented during the call.This press release contains forward-looking statements (FLS), including statements about the company's future operational and financial performance, which are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "forecasts," "scheduled," "outlook," "estimates," "should" and variations of these words and similar expressions are intended to identify FLS. In making FLS, we rely on assumptions and analyses based on our experience and perception of historical trends; current conditions and expected future developments; and other factors, estimates and judgments we consider reasonable and appropriate based on information available to us at the time. FLS are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. FLS are not guarantees of future performance and involve factors, risks and uncertainties that are difficult to predict. Actual future results and trends may differ materially from what is forecast in the FLS. All FLS speak only as of the date they were made. We do not undertake any obligation to update or publicly release revisions to FLS to reflect events, circumstances or changes in expectations after the date of this press release. Additional information regarding these factors is contained in the company's filings with the SEC, and these factors may be revised or supplemented in future SEC filings. In addition, this press release contains some financial measures not prepared in accordance with U.S. generally accepted accounting principles (GAAP). While we believe these non-GAAP metrics provide useful information for investors, there are limitations associated with their use, and our calculations of these metrics may not be comparable to similarly titled measures of other companies. Non-GAAP metrics should not be considered in isolation from, or as a substitute for, GAAP measures. Reconciliations to comparable GAAP measures and other information relating to our non-GAAP measures are included in other filings with the SEC, which are available at investorrelations.gd.com. EXHIBIT A
CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
Three Months Ended December 31
Variance
2025
2024
$
% Revenue $ 14,379
$ 13,338
$ 1,041
7.8 % Operating costs and expenses (12,927)
(11,915)
(1,012)
Operating earnings 1,452
1,423
29
2.0 % Other, net 10
21
(11)
Interest, net (63)
(76)
13
Earnings before income tax 1,399
1,368
31
2.3 % Provision for income tax, net (256)
(220)
(36)
Net earnings $ 1,143
$ 1,148
$ (5)
(0.4) % Earnings per share—basic $4.23
$4.20
$ 0.03
0.7 % Basic weighted average shares outstanding 269.9
273.4
Earnings per share—diluted $4.17
$4.15
$ 0.02
0.5 % Diluted weighted average shares outstanding 273.9
276.9
EXHIBIT BCONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED)DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
Year Ended December 31
Variance
2025
2024
$
% Revenue $ 52,550
$ 47,716
$ 4,834
10.1 % Operating costs and expenses (47,194)
(42,920)
(4,274)
Operating earnings 5,356
4,796
560
11.7 % Other, net 61
68
(7)
Interest, net (314)
(324)
10
Earnings before income tax 5,103
4,540
563
12.4 % Provision for income tax, net (893)
(758)
(135)
Net earnings $ 4,210
$ 3,782
$ 428
11.3 % Earnings per share—basic $ 15.65
$ 13.81
$ 1.84
13.3 % Basic weighted average shares outstanding 269.1
273.9
Earnings per share—diluted $ 15.45
$ 13.63
$ 1.82
13.4 % Diluted weighted average shares outstanding 272.4
277.5
EXHIBIT C
REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS
Three Months Ended December 31
Variance
2025
2024
$
% Revenue:
Aerospace $ 3,788
$ 3,743
$ 45
1.2 % Marine Systems 4,818
3,960
858
21.7 % Combat Systems 2,535
2,395
140
5.8 % Technologies 3,238
3,240
(2)
(0.1) % Total $ 14,379
$ 13,338
$ 1,041
7.8 % Operating earnings:
Aerospace $ 481
$ 585
$ (104)
(17.8) % Marine Systems 345
200
145
72.5 % Combat Systems 381
356
25
7.0 % Technologies 290
319
(29)
(9.1) % Corporate (45)
(37)
(8)
(21.6) % Total $ 1,452
$ 1,423
$ 29
2.0 % Operating margin:
Aerospace 12.7 %
15.6 %
Marine Systems 7.2 %
5.1 %
Combat Systems 15.0 %
14.9 %
Technologies 9.0 %
9.8 %
Total 10.1 %
10.7 %
EXHIBIT D
REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN MILLIONS
Year Ended December 31
Variance
2025
2024
$
% Revenue:
Aerospace $ 13,110
$ 11,249
$ 1,861
16.5 % Marine Systems 16,723
14,343
2,380
16.6 % Combat Systems 9,246
8,997
249
2.8 % Technologies 13,471
13,127
344
2.6 % Total $ 52,550
$ 47,716
$ 4,834
10.1 % Operating earnings:
Aerospace $ 1,746
$ 1,464
$ 282
19.3 % Marine Systems 1,177
935
242
25.9 % Combat Systems 1,331
1,276
55
4.3 % Technologies 1,277
1,260
17
1.3 % Corporate (175)
(139)
(36)
(25.9) % Total $ 5,356
$ 4,796
$ 560
11.7 % Operating margin:
Aerospace 13.3 %
13.0 %
Marine Systems 7.0 %
6.5 %
Combat Systems 14.4 %
14.2 %
Technologies 9.5 %
9.6 %
Total 10.2 %
10.1 %
EXHIBIT E
CONSOLIDATED BALANCE SHEET
DOLLARS IN MILLIONS
(Unaudited)
December 31, 2025
December 31, 2024 ASSETS
Current assets:
Cash and equivalents $ 2,333
$ 1,697 Accounts receivable 2,406
2,977 Unbilled receivables 8,380
8,248 Inventories 9,232
9,724 Other current assets 1,897
1,740 Total current assets 24,248
24,386 Noncurrent assets:
Property, plant and equipment, net 7,525
6,467 Intangible assets, net 1,375
1,520 Goodwill 21,009
20,556 Other assets 3,092
2,951 Total noncurrent assets 33,001
31,494 Total assets $ 57,249
$ 55,880 LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt $ 1,006
$ 1,502 Accounts payable 2,678
3,344 Customer advances and deposits 9,824
9,491 Other current liabilities 3,288
3,487 Total current liabilities 16,796
17,824 Noncurrent liabilities:
Long-term debt 7,007
7,260 Other liabilities 7,824
8,733 Total noncurrent liabilities 14,831
15,993 Shareholders' equity:
Common stock 482
482 Surplus 4,403
4,062 Retained earnings 44,080
41,487 Treasury stock (22,860)
(22,450) Accumulated other comprehensive loss (483)
(1,518) Total shareholders' equity 25,622
22,063 Total liabilities and shareholders' equity $ 57,249
$ 55,880 EXHIBIT FCONSOLIDATED STATEMENT OF CASH FLOWS - (UNAUDITED)DOLLARS IN MILLIONS
Year Ended December 31
2025
2024 Cash flows from operating activities—continuing operations:
Net earnings $ 4,210
$ 3,782 Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation of property, plant and equipment 680
644 Amortization of intangible and finance lease right-of-use assets 244
242 Equity-based compensation expense 196
183 Deferred income tax provision (benefit) 256
(86) (Increase) decrease in assets, net of effects of business acquisitions:
Accounts receivable 556
16 Unbilled receivables (146)
(261) Inventories 450
(1,195) Increase (decrease) in liabilities, net of effects of business acquisitions:
Accounts payable (664)
247 Customer advances and deposits (4)
343 Other, net (658)
197 Net cash provided by operating activities 5,120
4,112 Cash flows from investing activities:
Capital expenditures (1,161)
(916) Other, net (123)
(37) Net cash used by investing activities (1,284)
(953) Cash flows from financing activities:
Dividends paid (1,593)
(1,529) Repayment of fixed-rate notes (1,500)
(500) Proceeds from fixed-rate notes 747
— Purchases of common stock (637)
(1,501) Other, net (207)
161 Net cash used by financing activities (3,190)
(3,369) Net cash used by discontinued operations (10)
(6) Net increase (decrease) in cash and equivalents 636
(216) Cash and equivalents at beginning of year 1,697
1,913 Cash and equivalents at end of year $ 2,333
$ 1,697 EXHIBIT G
ADDITIONAL FINANCIAL INFORMATION - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
Other Financial Information:
December 31, 2025
December 31, 2024
Debt-to-equity (a) 31.3 %
39.7 %
Book value per share (b) $ 94.76
$ 81.61
Shares outstanding 270,389,759
270,340,502
Fourth Quarter
Twelve Months
2025
2024
2025
2024 Income tax payments, net $ 305
$ 435
$ 568
$ 560 Company-sponsored research and development (c) $ 147
$ 144
$ 486
$ 565 Return on sales (d) 7.9 %
8.6 %
8.0 %
7.9 % Return on equity (e)
17.9 %
17.2 %
Non-GAAP Financial Measures:
Fourth Quarter
Twelve Months
2025
2024
2025
2024 Free cash flow:
Net cash provided by operating activities $ 1,561
$ 2,160
$ 5,120
$ 4,112 Capital expenditures (609)
(355)
(1,161)
(916) Free cash flow (f) $ 952
$ 1,805
$ 3,959
$ 3,196
Return on invested capital:
Net earnings
$ 4,210
$ 3,782 After-tax interest expense
318
310 After-tax amortization expense
193
191 Net operating profit after taxes
4,721
4,283 Average invested capital
33,212
32,451 Return on invested capital (g)
14.2 %
13.2 %
December 31, 2025
December 31, 2024
Net debt:
Total debt $ 8,013
$ 8,762
Less cash and equivalents 2,333
1,697
Net debt (h) $ 5,680
$ 7,065
Notes describing the calculation of the other financial information and a reconciliation of non-GAAP financial measures are on the following page. EXHIBIT G (Cont.)
ADDITIONAL FINANCIAL INFORMATION - (UNAUDITED)
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
(a)Debt-to-equity ratio is calculated as total debt divided by total equity as of year end.(b)Book value per share is calculated as total equity divided by total outstanding shares as of year end.(c)Includes independent research and development and Aerospace product-development costs.(d)Return on sales is calculated as net earnings divided by revenue.(e)Return on equity is calculated by dividing net earnings by our average total equity during the year. Average total equity is calculated using the total equity balance at the end of the preceding year and the total equity balances at the end of each of the four quarters of the year presented.(f)We define free cash flow as net cash from operating activities less capital expenditures. We believe free cash flow is a useful measure for investors because it portrays our ability to generate cash from our businesses for purposes such as repaying debt, funding business acquisitions, repurchasing our common stock and paying dividends. We use free cash flow to assess the quality of our earnings and as a key performance measure in evaluating management.(g)We believe return on invested capital (ROIC) is a useful measure for investors because it reflects our ability to generate returns from the capital we have deployed in our operations. We use ROIC to evaluate investment decisions and as a performance measure in evaluating management. We define ROIC as net operating profit after taxes divided by average invested capital. Net operating profit after taxes is defined as net earnings plus after-tax interest and amortization expense, calculated using the statutory federal income tax rate. Average invested capital is defined as the sum of the average debt and average shareholders' equity excluding accumulated other comprehensive loss. Average debt and average shareholders' equity excluding accumulated other comprehensive loss are calculated using the respective balances at the end of the preceding year and the respective balances at the end of each of the four quarters of the year presented. ROIC excludes goodwill impairments and non-economic accounting changes as they are not reflective of company performance.(h) We define net debt as short- and long-term debt (total debt) less cash and equivalents. We believe net debt is a useful measure for investors because it reflects the borrowings that support our operations and capital deployment strategy. We use net debt as an important indicator of liquidity and financial position. EXHIBIT H
BACKLOG - (UNAUDITED)
DOLLARS IN MILLIONS
Funded
Unfunded
Total Backlog
Estimated Potential Contract Value*
Total Estimated Contract Value Fourth Quarter 2025:
Aerospace
$ 20,804
$ 1,024
$ 21,828
$ 1,120
$ 22,948 Marine Systems
36,808
15,532
52,340
11,823
64,163 Combat Systems
26,064
1,154
27,218
14,670
41,888 Technologies
9,865
6,795
16,660
33,280
49,940 Total
$ 93,541
$ 24,505
$ 118,046
$ 60,893
$ 178,939 Third Quarter 2025:
Aerospace
$ 19,476
$ 1,131
$ 20,607
$ 1,147
$ 21,754 Marine Systems
38,757
14,854
53,611
14,839
68,450 Combat Systems
17,232
1,470
18,702
9,553
28,255 Technologies
10,269
6,668
16,937
32,341
49,278 Total
$ 85,734
$ 24,123
$ 109,857
$ 57,880
$ 167,737 Fourth Quarter 2024:
Aerospace
$ 18,895
$ 798
$ 19,693
$ 1,132
$ 20,825 Marine Systems
30,530
9,288
39,818
9,560
49,378 Combat Systems
16,142
838
16,980
8,647
25,627 Technologies
9,577
4,529
14,106
34,029
48,135 Total
$ 75,144
$ 15,453
$ 90,597
$ 53,368
$ 143,965
* The estimated potential contract value includes work awarded on unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options associated with existing firm contracts, including options and other agreements with existing customers to purchase new aircraft and aircraft services. We recognize options in backlog when the customer exercises the option and establishes a firm order. For IDIQ contracts, we evaluate the amount of funding we expect to receive and include this amount in our estimated potential contract value. The actual amount of funding received in the future may be higher or lower than our estimate of potential contract value. EXHIBIT H-1BACKLOG - (UNAUDITED)DOLLARS IN MILLIONShttps://mma.prnewswire.com/media/2870570/Exhibit_H1.jpgEXHIBIT H-2BACKLOG BY SEGMENT - (UNAUDITED)DOLLARS IN MILLIONS https://mma.prnewswire.com/media/2870571/Exhibit_H2.jpgEXHIBIT IAEROSPACE SUPPLEMENTAL DATA - (UNAUDITED)DOLLARS IN MILLIONS
Fourth Quarter
Twelve Months
2025
2024
2025
2024 Gulfstream Aircraft Deliveries (units):
Large-cabin aircraft
41
42
136
118 Mid-cabin aircraft
4
5
22
18 Total
45
47
158
136
Aerospace Book-to-Bill:
Orders*
$ 5,075
$ 3,814
$ 15,492
$ 11,278 Revenue
3,788
3,743
13,110
11,249 Book-to-Bill Ratio
1.3x
1.0x
1.2x
1.0x * Does not include customer defaults, liquidated damages, cancellations, foreign exchange fluctuations and other backlog adjustments.
View original content to download multimedia:https://www.prnewswire.com/news-releases/general-dynamics-reports-fourth-quarter-and-full-year-2025-financial-results-302671683.htmlSOURCE General Dynamics
Original: General Dynamics Reports Fourth-Quarter and Full-Year 2025 Financial Results
ProfitScout
2年前
General Dynamics Reports Third-Quarter 2024 Financial Results
Revenue of $11.7 billion, up 10.4% from year-ago quarter
Operating earnings of $1.2 billion, up 11.7% from year-ago quarter
Diluted EPS of $3.35, up 10.2% from year-ago quarter
Operating margin of 10.1%, a 10-basis-point expansion from year-ago quarter
RESTON, Va., Oct. 23, 2024 /PRNewswire/ -- General Dynamics (NYSE: GD) today reported third-quarter 2024 revenue of $11.7 billion, up 10.4% from the third quarter of 2023. Operating earnings of $1.2 billion were up 11.7% from the year-ago quarter. Diluted earnings per share (EPS) were $3.35, up 10.2% from the year-ago quarter. Operating margin for the quarter was 10.1%, a 10-basis-point expansion from the year-ago quarter.
"The company continues to see strong growth and steady improvement in operating performance," said Phebe Novakovic, chairman and chief executive officer. "Demand across the portfolio also remains strong in the current environment."
Gulfstream delivered 28 aircraft in the quarter, of which 24 were large-cabin aircraft, including four G700s. This compares with 27 aircraft delivered in the year-ago quarter, of which 22 were large cabin.
Cash and Capital Deployment
Net cash provided by operating activities in the quarter was $1.4 billion, or 152% of net earnings. During the quarter, the company paid $390 million in dividends, invested $201 million in capital expenditures, and used $44 million to repurchase shares, ending the quarter with $2.1 billion in cash and equivalents on hand.
Orders and Backlog
The consolidated book-to-bill ratio, defined as orders divided by revenue, was 1.1-to-1 for the quarter. Company-wide backlog was $92.6 billion. Estimated potential contract value, representing management's estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $45 billion. Total estimated contract value, the sum of all backlog components, was $137.6 billion.
In the Aerospace segment, orders in the quarter totaled $2.4 billion. The segment ended the quarter with backlog of $19.8 billion.
In the defense segments, orders in the quarter totaled $10.5 billion, with particular strength in the Combat Systems and Technologies segments. Significant awards in the defense segments included $885 million for various munitions and ordnance, with maximum potential value of $1.7 billion; $465 million, with maximum potential value of $1.7 billion, for two U.S. Army contracts for production of 155mm artillery projectile metal parts; $780 million, with maximum potential contract value of more than $6.7 billion including options, for the construction of additional John Lewis-class (T-AO-205) fleet replenishment oilers; $1.5 billion for long-lead materials for Block VI Virginia-class submarines; $840 million, with maximum potential value of $1 billion, for several key contracts for classified customers; and $605 million for multiple awards from the U.S. Space Development Agency to develop and integrate ground systems for the low-Earth orbit satellite network. A detailed list of significant awards is provided in Exhibit I.
About General Dynamics
Headquartered in Reston, Virginia, General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $42.3 billion in revenue in 2023. More information is available at www.gd.com.
WEBCAST INFORMATION: General Dynamics will webcast its third-quarter 2024 financial results conference call at 9 a.m. EDT on Wednesday, October 23, 2024. The webcast will be a listen-only audio event available at www.gd.com. An on-demand replay of the webcast will be available by telephone two hours after the end of the call through October 30, 2024, at 800-770-2030 (international: +1 609-800-9909), conference ID 4299949. Charts furnished to investors and securities analysts in connection with General Dynamics' announcement of its financial results are available at http://www.gd.com.
This press release contains forward-looking statements (FLS), including statements about the company's future operational and financial performance, which are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "forecasts," "scheduled," "outlook," "estimates," "should" and variations of these words and similar expressions are intended to identify FLS. In making FLS, we rely on assumptions and analyses based on our experience and perception of historical trends; current conditions and expected future developments; and other factors, estimates and judgments we consider reasonable and appropriate based on information available to us at the time. FLS are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. FLS are not guarantees of future performance and involve factors, risks and uncertainties that are difficult to predict. Actual future results and trends may differ materially from what is forecast in the FLS. All FLS speak only as of the date they were made. We do not undertake any obligation to update or publicly release revisions to FLS to reflect events, circumstances or changes in expectations after the date of this press release. Additional information regarding these factors is contained in the company's filings with the SEC, and these factors may be revised or supplemented in future SEC filings. In addition, this press release contains some financial measures not prepared in accordance with U.S. generally accepted accounting principles (GAAP). While we believe these non-GAAP metrics provide useful information for investors, there are limitations associated with their use, and our calculations of these metrics may not be comparable to similarly titled measures of other companies. Non-GAAP metrics should not be considered in isolation from, or as a substitute for, GAAP measures. Reconciliations to comparable GAAP measures and other information relating to our non-GAAP measures are included in other filings with the SEC, which are available at investorrelations.gd.com.
ProfitScout
2年前
General Dynamics Business Units to Participate in AUSA 2024
RESTON, Va., Oct. 8, 2024 /PRNewswire/ -- Four business units of General Dynamics (NYSE: GD) will be among the exhibitors at the Association of the U.S. Army (AUSA) annual meeting and exposition, scheduled for Oct. 14-16 in Washington, D.C.
General Dynamics products and solutions on display at upcoming AUSA exposition in Washington D.C.
Following is a list of General Dynamics products and solutions that will be displayed at the event.
GENERAL DYNAMICS LAND SYSTEMS (Booth 703)
Mission Command on the Move: With modern Army command posts (at echelon) being too easily detected and too easily targeted on the modern, drone-saturated battlefield, GD Land Systems is displaying its concept for Mission Command on the Move (MCOTM). The MCOTM solution uses Human-Machine Integration (HMI) to reduce detectable friendly signatures across several spectrums, including visual, thermal, acoustic and electromagnetic. It also eliminates the need for noisy generators, cumbersome tents, extra support vehicles and other logistics burdens that consume valuable resources and manpower.
Featured in the Land Systems booth are three MCOTM-enabling vehicles making their public debuts:
Stryker MCOTM: With increased interior space thanks to a raised roofline, the Stryker MCOTM is the crewed hub that enables protected mission command on a short halt or on the move. Its hybrid-electric drive allows for silent mobility, silent watch and exportable power. It also boasts an integrated Active Protection System, Katalyst Next Generation Electronic Architecture with cyber defense, and individual communication devices for end-to-end secure communications, at echelon. Integrating innovative intra-command post communications helps substantively reduce electromagnetic signatures, enabling the MCTOM command post to "hide in plain sight."
MUTT XM: The newest member of the Land Systems family of Multi-Utility Tactical Transport robotic vehicles, the MUTT XM is bigger, faster and stronger than its predecessors and is hardened against electromagnetic interference. The 8x8 MUTT XM lightens the load as an equipment-carrying "robotic mule" but also has built-in flexibility for a wide variety of combat, combat support and combat service support functions and payloads. At AUSA, it will be outfitted with MIMIC spoofing technology from General Dynamics Mission Systems, providing a deployed layer of protection for the MCOTM command vehicles.
TRX Defender: How modular is the Tracked Robot 10-ton (TRX) robotic combat vehicle? It will be displayed with different ground- and air-defense payloads each of the three days at AUSA. Now in its third generation, the latest TRX is the Land Systems entry in the Army Robotic Combat Vehicle (RCV) competition with a 1:1 ratio for curb weight-to-payload. The TRX AUSA payloads are designed to provide perimeter defense against air and ground threats during an MCOTM operation, unencumbering subordinate units from being tasked for command post defense.
GENERAL DYNAMICS MISSION SYSTEMS (Booth 1003)
Integrated Mission Planning and Airspace Control Tools (IMPACT) demo: The IMPACT demo will show how the IMPACT software suite converges the mission-planning capabilities of the Aviation Mission Planning Systems (AMPS) with the airspace control capabilities of the Tactical Airspace Integration System (TAIS) into a single, role-based, hardware-agnostic, software-centric solution. IMPACT will span command post, mobile/handheld and mounted computing environments, including the Aviation Mission Command Server (AMCS) on aviation platforms and will provide for greater Army, joint and partner nation interoperability.
Smart Munitions: This exhibit will feature a host of key weapon subsystems capabilities comprised of Assured PNT capabilities, Software-Defined Radios (SDR) and guidance electronic units as part of an integrated solution to improve the kill chain for long-range precision fires and associated weapons platforms as well as networked anti-vehicle munition system.
Tactical Electronic Warfare System – Infantry (TEWS-I): TEWS-I is a dedicated, all-weather, 24-hour, ground-based tactical electronic support and electronic attack system. TEWS-I enables an infantry brigade combat team commander to detect, locate, and identify the enemy and gives the commander the capability to act/react/counter with non-lethal effects by denying, disrupting, and degrading the enemy's ability to communicate, coordinate, and synchronize. The dismount design is portable to other military and non-military vehicles, uncrewed Robotic Combat Vehicles (RCVs), and standalone dismount.
GPS Source Assured Positioning, Navigation and Timing (PNT) solutions: Fight Tonight and Modified Reception Pattern Antenna (MRPA) Assured PNT solutions for GPS-challenged environments are based on DoD- and Army-defined threat conditions and have scalable, low-cost and easy-to-install solutions for the majority of the Army tactical ground vehicle fleet.
Tactical Cross Domain Solutions (TACDS): General Dynamics Mission Systems is designing, building and delivering data protection products and solutions to secure our Nation's critical information. TACDS, our tactical cross domain solution (CDS), enables information to be shared and transmitted across different security domains across the most austere environments. Our CDS empowers the warfighter to share the right data with the right people at the right time.
Embedded Crypto: As a leading supplier of embedded cryptography, General Dynamics Mission Systems brings nearly 60 years of High Assurance system development experience to customer platforms. Our embedded crypto products range from boxes to boards to chips and include some of the most advanced hardware, software and mechanical designs, integrated to meet the community's high standards for lightweight, low-power, ruggedized components and security.
Advanced Vetronic Solutions: Using a scalable framework and a modular open standards approach, Advanced Vetronic Solutions meet the U.S. Government's Ground Combat Systems' Common Infrastructure Architecture requirements. With load balancing and containerized functionality, these advanced technologies allow for continued operation with no single point of failure. GDMS offers decades-long lifecycle support ensuring the U.S. Army's critical systems will continue to deliver as mission objectives evolve.
Ultra High Definition Tactical Displays: This advanced suite of ultra high definition multi-function and smart displays allow for multiple high-resolution feeds from any sensor or camera with low latency to enable more efficient decision-making, driving, targeting, and stabilization in near real time. These displays present clear visibility of surroundings and improved detection of obstacles and are capable of withstanding the harshest environments without compromising performance.
GENERAL DYNAMICS ORDNANCE AND TACTICAL SYSTEMS (GD-OTS) (Booth 721)
Weapon Systems - Iron Fist Active Protection System (APS): Iron Fist is the trusted Active Protection System that utilizes independent optical sensors, tracking radar, launchers and countermeasure munitions to defeat threats at a safe distance. General Dynamics Ordnance and Tactical Systems and Elbit Systems have teamed to offer this solution.
155mm Artillery Systems Integrator: General Dynamics Ordnance and Tactical Systems is an end-to-end solutions provider of projectile metal parts, Load, Assemble, Pack (LAP), and Modular Artillery Charges (MACS) for the artillery enterprise, as well as a full-spectrum artillery systems integrator. Our multi-mission suite of 155mm artillery munitions allows near-precision strikes at greater standoff ranges.
Missile Subsystems: From warheads to solid rocket motor cases, hydra rockets to GMLRS launch pod containers, and more, GD-OTS is a key supplier on major strategic and tactical missile programs. With world-class expertise in the design, analysis, production, and testing of large and small components, General Dynamics Ordnance and Tactical Systems is the reliable partner in providing the best solution for missile subsystem requirements.
GENERAL DYNAMICS INFORMATION TECHNOLOGY (GDIT) (Booth 907)
From unified network development, training and operations to next-generation command and control, GDIT offers the capabilities and services needed for the Army to take multi-domain operations from vision to reality. From the enterprise to the edge, GDIT provides innovative technology solutions that advance the Army's mission. These solutions include:
Zero Trust and Mission Partner Environments (MPE): Our Zero Trust and MPE solutions enable easy, secure and dynamic data sharing at the enterprise and in theater. When integrated with our 5G solutions, they further enhance mission effectiveness.
Tactical 5G and Advanced Wireless: Our next generation 5G solution enables seamless real-time communication between soldiers on the tactical edge and commanders in the field. This connection advances situational awareness in contested environments.
AI-Assisted Software Factory and Digital Engineering: We provide secure digital engineering solutions to allow cross-functional teams to collaborate and make better decisions as they manage, create and test digital prototypes before investing in live solutions. GDIT applies these capabilities to Army modernization priorities ranging from tactical vehicle and weapons systems development to enterprise network operations.
Artificial Intelligence: From machine-assisted network operations to the integration of sensors, our AI solutions rapidly process data and turn it into actionable intelligence. This enables information advantage that has direct mission impact in multiple areas, including advanced training and intelligence, surveillance and reconnaissance.
NOTE TO EDITORS
For more information on these solutions or for stock imagery, contact our media representatives:
General Dynamics Land Systems: Robin Porter, 248-459-9200, porterr@gdls.com
General Dynamics Mission Systems: Joe Sowers, 202-309-7583, joseph.sowers@gd-ms.com
General Dynamics Ordnance and Tactical Systems: Berkley Whaley, 727-503-4897, berkley.whaley@gd-ots.com
General Dynamics Information Technology: Oliver Nutt, 571-581-5567, oliver.nutt@gdit.com
Follow us on X during the show:
General Dynamics Land Systems: @GD_LandSystems
General Dynamics Mission Systems: @GDMS and @GDMS_C
General Dynamics Ordnance and Tactical Systems: @GD_OTS
General Dynamics Information Technology: @GDIT
About General Dynamics
Headquartered in Reston, Virginia, General Dynamics is a global aerospace and defense company offering a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people across 65 countries worldwide and in all 50 U.S. states, generating $42.3 billion in revenue in 2023. More information is available at http://www.gd.com.
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/general-dynamics-business-units-to-participate-in-ausa-2024-302270337.html
SOURCE General Dynamics
Hot Features
プレミアム
登録してリアルタイムのアラート、カスタムポートフォリオ、市場の動きを入手してください。
mm41
3月前
iHub News
4月前
Lime Time
5月前
Slojab
8月前
Monksdream
8月前
Candlestick_Ninja
2年前
メールアドレスで登録
