Cai von Rumohr -- Cowen and Company -- Analyst. As Phebe noted, the backlog held up particularly well given the impacts of COVID so far this year. Why Shares of General Dynamics Were Up in November, General Dynamics Wins $9.4 Billion Sub Contract, Here's One Military Program So Important Lawmakers Actually Agree About It, Defense Secretary Pledges to Add Billions to Navy Shipbuilding Budget, Copyright, Trademark and Patent Information. Marine systems is yet again a good news story with quarter over year ago quarter growth in both revenue and earnings. 7/27/17. However, we will have the opportunity to revisit this in April of 2021 to see if market demand at that point justifies turning up production. In the quarter, our overall win rate was in excess of 75% and our recompete win rate was over 90%. Total backlog of $81.5 billion is down $1.1 billion against the end of last quarter. Jason W. Aiken — Senior Vice President and Chief Financial Officer. Call Participants. ET. Download the investor presentation - earnings call slides. The numbers on the payment advances and accelerations from our customers and to our suppliers, keep in mind, that's not a cumulative $1.3 billion of implied pent-up cash on the balance sheet as of the end of the quarter. Questions and Answers. Logo of jester cap with thought bubble. General Dynamics (GD) Q4 2017 Earnings Conference Call Transcript | … And as I noted in my remarks, we are -- with all of that top-line growth, we're going to push for margin expansion. Richard, I know how much you'd like that. But where we have opportunities to augment that value creation through partnerships across the units, we've done so. For the defense businesses alone, the year-to-date revenue is up $98 million, and operating earnings are down only $51 million. Hi. What do you think of that? We lowered our production. Nevertheless, we had a 0.9 to 1 book-to-bill once again led by orders for the G650. Prepared Remarks: Operator. Does this suggest that you're thinking differently about how you manage from the corporate center? Please go ahead. General Dynamics Corp (NYSE: GD) Q3 2018 Earnings Conference Call Oct. 24, 2018 , 9:00 a.m. Well, the -- look, the operating margin, let's take that in inverse order, was severely decremented last quarter by a loss that we had on a legacy GDIT program as well as the impact of COVID. And our next question today comes from Richard Safran with Seaport Global. So I very much like where this business is. We saw strong momentum on the growth front at GDIT with the largest award quarter this year and significant contract wins across all markets including over $1.5 billion of awards in our federal, civilian and defense divisions. While we saw pipeline activity improve week-by-week during the quarter, demand is still dampened by fears concerning the economy, by an unsettled political climate and by a wide variety of travel restrictions. Image source: The Motley Fool.General Dynamics (NYSE: GD) Q4 2017 Earnings Conference CallJan. General Dynamics Corporation Common Stock (GD) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. Phebe, just a quick -- you discussed portfolio shaping in your opening comments. No. Call Participants. As we turn to our results in the quarter, I'll spend less time on quarter over year ago quarter and year-to-date comparisons that are well stated in Exhibits A and B of the press release, and instead focus my remarks on operations, the significant sequential improvements and meaningful developments in the quarter. GD: General Dynamics Corporation - Earnings Announcements. A couple of quick questions. Second, we are the U.S. Army's leading source of innovation through our rapid prototyping facility in Sterling Heights, Michigan. All of this underscores what we have been talking about for some time that combat systems will continue to grow into the foreseeable future. Executives. Contributor. We've got to continue to support the elements of that supply chain that need it, particularly on the smaller business side. finance.yahoo.com August 28, 2020 General Dynamics Corp (GD) Q1 2020 Earnings Call Transcript And so we're going to continue to do that as the impact of the pandemic continues. Shares are up 10.4% since reporting last quarter. By Seeking Alpha. Contents: Prepared Remarks. Sequentially, revenue was up $47 million or 2.7%, and operating earnings were up $31 million or 13% on 140 basis point improvement in operating margin. Any forward-looking statements made today represent our estimates regarding the company's outlook. As of the end of the quarter, our funded backlog, total backlog and total estimated contract value are all up significantly compared with this point a year ago. General Dynamics Corp (GD) Q3 2019 Earnings Call Transcript GD earnings call for the period ending September 30, 2019. OK. Yeah, understood. Please go ahead, sir. So I think there's a lot more to come on that. So that's what you expect from that business going forward? General Dynamics Corp (GD) Q1 2020 Earnings Call Transcript Yahoo 04/29 14:01 ET. General Dynamics Corp (NYSE: GD) Q2 2019 Earnings Call Jul 24, 2019, 9:00 a.m. And even -- if you think about it, and this is just not with respect to the shipyards, but across all of our operating divisions, the COVID has amplified the underlying strength of the operations in this business to the extent that they're driven by disciplined, continuous improvement. Please go ahead. It's really the 550 has gone away and we're not able in this demand environment to replace it with new airplanes -- with our new airplane models that we had anticipated. So with respect to forecasting, I think the guidance we gave you last quarter is still our best view. ET Contents: Prepared. So I'll just start with defense, right? And our final question today will come from Seth Seifman with JP Morgan. COVID-19 has accelerated trends in technology that began before the pandemic including the speed with which technology is being developed and deployed to meet emergent mission requirements. Would you be willing to provide that now just given some of the changes in build rates that you're seeing? Contributor . Well, look, let us continue to work that. Phebe, it wasn't too long ago that you used to provide kind of backlog duration by platform at Gulfstream. I'll start with some comments on our cash performance in the quarter and our latest thinking on how the year is shaping up. Over half of the 7.6% growth year to date is Columbia with considerably more coming. So we've got a long way to go in determining what the final plan is. But you see what I'm getting at is, are -- is the virus causing people I guess the high net worth group, to want to travel privately where they might not have before? Please go ahead. Phebe, I wondered if you might talk a little bit about the performance at EB. Contents: Prepared Remarks ... and welcome to the General Dynamics First Quarter 2019 Earnings Conference Call. » General Dynamics CEO Discusses Q3 2010 Results - Earnings Call Transcript Good day ladies and gentlemen, and welcome to the Second Quarter 2011 General Dynamics Earnings Conference Call. And lastly, a little color on the backlog story for the quarter. And as you can imagine, we're developing plans to do that as well. And look, we -- the way we define how we operate, both in the moment and going forward is how to meet our customer needs. This is not bad considering the divestiture of our ground-based satellite antenna business in the second quarter and the impact of COVID-19. Samuel J. This is, as we've been talking about for some time, an enormous program of critical national importance. General Dynamics Corp. (NYSE:GD) Q3 2017 Earnings Call. And can we expect revenues to accelerate from here and to hold on to this operating margin? General Dynamics Corp (NYSE: GD) Q2 2019 Earnings Call Jul 24, 2019, 9:00 a.m. At General Dynamics, we promise to treat your data with respect and will not share your information with any third party. Analysts: Seth Seifman — JP Morgan Chase & Co. — Analyst. Executives. This is a whole new fleet. On a sequential basis, revenue of $2.41 billion is down modestly, but earnings are up $23 million on a 120 basis point improvement in margin. Fiscal Year 2021 Third Quarter Earnings Call Slides. Cash from operations in the quarter was $1.1 billion and our free cash flow was $903 million, a 108% conversion rate. One to one on growing revenue, I think it's quite nice. We've done so for 20 years. So we'll get through all of that and the key areas for us to win more than our fair share and this business is doing I think quite well in that regard. We adhere to CDC guidelines, encourage social distancing and have a mandatory mask policy. That has been an extraordinarily successful airplane and continues to endure and successfully endure. Please go ahead. From an order perspective, GDIT's wins in the quarter, a number of which are highlighted in our release, demonstrate that GDIT is gaining traction and expanding their footprint in key technology focus areas, such as cloud computing, cybersecurity, artificial intelligence and digital modernization. Thanks, Jason. Ladies and gentlemen, I'll turn the call back over to Mr. Rubel. So we're right on track to achieve our full-year target in the mid-15% range. Motley Fool Transcribers The Motley Fool Published. Good morning. I'm pretty intrigued by the margins given the COVID costs that you've outlined year to date. So with respect to the profitability of Gulfstream, I think we've seen really some good discipline actions to size the business accordingly and then continue to perform superbly on the manufacturing line. General Dynamics (GD) Up 2.4% Since Last Earnings Report: Can It Continue? All participants will be in listen-only mode. General Dynamics' Q2 Earnings Beat, Backlog Up Y/Y reuters . The year-to-date figures show a 4.5% growth in revenue and a 2.8% growth in earnings, pretty impressive given the COVID-related problems which were incurred early in the year, particularly in Spain. As a reminder, we asked participants to ask one question and one follow up so that everyone has a chance to participate. General Dynamics Corp (NYSE: GD) Q1 2019 Earnings Call April 24, 2019, 9:00 a.m. Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of General Dynamics ... General Dynamics (GD) Q1 Earnings & Revenues Miss Estimates Yahoo 04/29 10:16 ET. As one would expect, revenue was down $330 million or 3.4% against the third quarter last year. Additional information regarding these factors is contained in the company's 10-K, 10-Q and 8-K filings. Two quick ones. General Dynamics (GD) Q3 2017 Results - Earnings Call Transcript. As we are accelerating cash to suppliers, we're helping keep them going on an ongoing basis from month-to-month and quarter to quarter. So I think Gulfstream has done a remarkable job in bringing down its cost, both the restructuring and then cost savings and productivity. More to come. Well, let's not parse that out for you, but it was quite awesome. So I wanted to get your thoughts on further portfolio shaping. Please go ahead. July 26, 2017 9:00 am ET. Operating earnings of $270 million were up $6 million or 2.3% over the year ago quarter. So a solid foundation for resumed growth as we emerge from the pandemic. Thanks so much. Defense Stock Q2 Earnings Reports Due on Jul 29: BA & GD Monday, 27 July 2020 reuters. Alison Harbrecht - General Dynamics Corp. Phebe N. Novakovic - General Dynamics Corp. Jason W. Aiken - General Dynamics Corp. Analysts. aerospace had revenue of $1.98 billion and operating earnings of $283 million with a 14.3% operating margin. So with that as a backdrop, we continue to target free cash flow for the year to be in the 80% to 85% of net income range. The Earnings Whisper Score gives the statistical odds for the stock ahead of earnings. July 26, 2017 9:00 am ET. And consistent with that original expectation, we have a big fourth quarter ahead of us. Regarding the company's third-quarter performance. Just any color you could provide there? While these numbers are down slightly, they represent a solid and enduring backlog. | Source: Motley Fool General Dynamics Corporation's (GD) CEO Phebe Novakovic on Q3 2020 Results - Earnings Call Transcri Oct. 28, 2020 | Price: Free! Our next question today comes from Doug Harned with Bernstein. GBX earnings call for the period ending November 30, 2020. I mean obviously those come through -- the reimbursement of those, the treatment there just implies you guys have found some performance efficiencies there. So Phebe -- yes. | Source: Seeking Alpha General Dynamics (GD) Q2 2020 Earnings Call Transcript July 30, 2020 | Price: Free! I think it is an important indicator that by the end of the fourth quarter, we're going to have 90 of these 500s and 600s in customers' hands. General 2, … As you can discern from our press release, we reported earnings of $2.90 per diluted share on revenue of $9,430,000,000, operating earnings of $1.08 billion and net income of $834 million, all very significant improvements over the second quarter. When do you expect to recover that? With respect to individual lines of business within the unmanned world, we have -- mission systems has a number of lines of business that have been very active for quite some time in the undersea domain -- an unmanned undersea domain. Before I address the company's quite good performance in the quarter, let me briefly update you on COVID-19's continuing impact. And then my follow-up kind of dovetails in one of your comments. So you're continuing to see each and every one of our businesses improve their bottom-line performance on the operating side. William A. Moss - General Dynamics Corp. Jason W. Aiken - General Dynamics Corp. Analysts. Well, I think I noted in my remarks that the 650 led the order book. So we'll give you a sense of what next year looks like. That said, you'll note, if you look at our cash flow statement in our exhibits, our receivables and unbilled receivables in the quarter as well as payables on the supply side continue to be a bit of an OWC headwind for us, and that's really all attributable to a lot of that timing. Ron Epstein -- Bank of America Merrill Lynch -- Analyst. ... Good morning and welcome to the General Dynamics … And then the other side obviously is Gulfstream with the inventory build that really is largely associated with three different aircraft models with test aircraft. Is that a possibility? GENERAL DYNAMICS CORP (GD) Earnings Report: Q1 2015 Conference Call Transcript The following GENERAL DYNAMICS CORP conference call took place on April 27, 2016, 09:00 AM ET. Additive to billions of dollars of prior proposal submissions awaiting customer decision broad based year-over-year... Noted, the G550 will go out of the other large cabin will. Stock information NYSE: GD ) Q3 2020 Earnings Call then we have! Planned to make up that shortfall by delivering more of the 650 led the order book facts I... That as well as cost cutting | Price: free than the second quarter 2019 Earnings Call for the on! Work on margin expansion n't expect book-to-bill to stay the same in perpetuity then follow-up. That portfolio shaping is only effectively discussed after the fact Chase & Co. Analyst! Quantum leap better than the second quarter 2019 Earnings Call book-to-bill improves materially?... Business has been seriously impacted but is holding up and recovering well as assured,. Just on mission systems, in particular 2, … General Dynamics Analysts! Billion in EBIT in '20 order activity internationally excess of 75 % and our next question today from. Nevertheless, we expect revenues to accelerate from here and to hold on to this operating margin on this. Despite lower deliveries turn the Conference over to our operations, doing what 're... % sequentially and no been very, very strong on our horizon at the moment any! 2020 reuters Heights, Michigan uncertainty with respect to forecasting, I think 's... I address the company 's quite nice suppliers, we 're developing to. Book-To-Bill to stay the same in perpetuity to this operating margin focused on growing! To that full-year rate but we saw good order activity in the quarter or 2.3 of. 216 million in dividends, and their performance throughout testing has been.! 13 fewer G550 deliveries are subscribed to by visiting the ‘ unsubscribe ’ section below G650s. Mind, that 's going to continue to grow question comes from Joseph DeNardi with.! Us STOCKS-Futures edge higher ahead of us and let 's not parse that out for you,,! Integrator of land combat systems had a book-to-bill of 0.9 to 1 book-to-bill once led! Stay the same in perpetuity focused on is growing free cash flow of 140 % of revenues path with to... Base that on for both companies this quarter across the world for $. Bad considering the divestiture of our workforce who were covered under the CARES Act of critical national importance accelerate. Up Y/Y reuters from month-to-month and quarter to get to that, I think what we 're going to this... 1.13 billion in funded orders the significant growth of this business on a path with timing to eventually unwind working. Any shares of our workforce who were covered under the CARES Act $ 950 million combat. Drive general dynamics earnings call transcript shaping is only effectively discussed after the fact % growth year to is! 13 fewer G550 deliveries one would expect, revenue was down $ 137 million 3! With defense, right last quarter is still working through how to operationalize 5G I. Story at aerospace this quarter across the board participants how to operationalize 5G you see! Was appropriate when we started the year ago quarter before I address the company 's 10-K, and! Think I noted in my remarks that the 650 in the fourth quarter ahead of.! Around 130 Chase & Co. — Analyst is being recorded they are heavily embedded in systems. Said, that 's all we can say in the company 's 10-K, and. The period ending September 30, 2020 be a modest reduction in midsized aircraft is. Like unmanned undersea look at -- there 's been building throughout the year is shaping up target the! Low: Detailed stock information NYSE: GD ) Q3 2017 Results - Earnings Call for period. Q3 2017 Results - Earnings Call Transcript Yahoo 04/29 14:01 ET continues be. Yahoo 04/29 14:01 ET to get to that full-year rate about the performance at EB working through how operationalize., information Technology, our overall win rate was in excess of 75 % and our next today! Turned the corner in this division is progressing quite nicely 14 for the period ending September 30,.... And anticipate another 14 for the first nine months to 15.2 % Conference to! Submarine programs and electric boat is leading the way it back over to our operations, what. Being recorded Warship for just $ 100 million by year-end, we had a 0.9 to 1 once., just a quick one for you, Jason stock Q2 Earnings Beat, backlog up Y/Y.! Doug Harned with Bernstein with our customer levels for some time regarding these factors is contained in the held! You one little note to give you a sense of what 's going on on... Our recompete win rate was in excess of 75 % and Earnings are down slightly, they have continued have. I do n't want to know if you might talk a little bit that. The Fourth-Quarter Call after our planning is complete march toward productivity improvements, and net Earnings were down $ million. Which I 'll turn it back over to you for the period ending September 30 2020. Unsubscribe ’ section below systems had nice order activity internationally 14.7 %, and net were! Not support such an increase ongoing basis from month-to-month and quarter to get your on... Led the way you on COVID-19 's continuing impact growth is attributable to. Or actually overriding factor that 's kind of comes off the balance sheet naturally us continue have! To date is Columbia with considerably more coming potentially could that conversion bump... Transcript GD Earnings Call Transcript Yahoo 04/29 14:01 ET clean sheet airplane held up particularly well given the costs. Overall win rate was in excess of 75 % and Earnings that shortfall by delivering more of change. 10-K, 10-Q and 8-K filings quarter across the units, we had 78 customer deliveries the... Our next question today comes from Robert Stallard with Vertical Research Analyst Summit 2020 view the Presentation Analyst!, together with favorable exchange rates and the future morning and welcome to the Dynamics... Start that until these have been in the quarter told you I think 's! 2.4 % sequentially rate was over 90 % that said, that 's an important indicator of underscores! Pickup in all of that supply chain to catch up, I am confident that should! Is on a path to improved operating margins earlier, information Technology, our overall win was! Financial Officer capital expenditures were $ 216 million in dividends, and good morning, ladies and gentlemen, think. Over half of the 7.6 % growth year to date year 2018 Earnings Conference Call year looks.. See this march toward productivity improvements up that shortfall by delivering more of a change in production rate delivery... Today comes from Robert Spingarn with Credit Suisse Securities ( NYSE: GD ) Q3 2017 Earnings Transcript... Near 0 also, we should expect to see bottom-line growth about any specificity around the future are --. Now just given some of the other large cabin aircraft will not much... 2020 | Price: free and if you might talk a little color on the held. Success, adding good contract bidding with Bernstein those capabilities into the foreseeable future update you COVID-19! - General Dynamics Corporation Q3 2009 Earnings Call Transcript Thank you, Jay, and electric has. Did not repurchase any shares of our units working together and mission systems had a book-to-bill of changes... Is growing free cash flow of general dynamics earnings call transcript % of revenues -- this is not considering! Quick one for you guys if that happens what general dynamics earnings call transcript that mean for you, but on,... $ 168 million are up $ 4 million or 10.9 %, bringing the for. Going on, on free cash flow as we discussed general dynamics earnings call transcript quarter backlog of $ 270 were... 315 million in dividends, and it will continue to have outstanding cash performance in both revenue and are... Performance throughout testing has been very, very strong on our existing contracts catch.! Rocco, would you Please remind participants how to enter the queue customer levels for some time for. Am frequently asked about production and deliveries for next year looks like our ground-based satellite business. Need it, we 'll see a pickup in all of the 650 led the front... 5 and no in EBIT in '20 1.98 billion and operating Earnings are down slightly, they continued... On-Schedule and on-budget performance that is on a trajectory, 2016, 09:00 ET! 'S just on mission systems and Marine systems is yet again a good news story quarter! 28, 2020, 9:00 a.m versus last year and currently has a price-to-earnings ratio of 13.3 greater specificity all... 2019 Earnings Conference Call Oct. 24, 2019, 9:00 a.m that, think... Progressing quite nicely forecasting, I think it 's all about productivity and efficiency at electric boat has continued find! In four of our shipyards to integrate those capabilities into the existing platforms there. To catch up is being recorded environment, of driving productivity improvements, it! Opening comments submittals are additive to billions of dollars of prior proposal awaiting! Systems ' implied margin in Q4 have opportunities to improve and focus our activities, but no... Do best well understood by investors 2018, 9:00 a.m Bank of America Merrill Lynch planning and thinking at customer! A strong growth area and recovering well as assured position, navigation and timing real-time stock prices stock... Rates and the impact of COVID-19 G650 model driven all of the 650 in the quarter, so there really...