| Imagery Source: Wikimedia Commons / JoachimKohlerBremen |
| Information Source: General Dynamics |
- Revenue $13 billion, up 8.9% from year-ago quarter
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- Diluted EPS $3.74, up 14.7% from year-ago quarter
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- $1.6 billion cash from operating activities, 158% of net earnings
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- Very strong order activity in the Marine and Aerospace segments
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| General Dynamics (NYSE: GD) today reported second-quarter 2025 operating earnings of $1.3 billion, or $3.74 per diluted share (EPS), on revenue of $13 billion. Compared with the year-ago quarter, revenue increased 8.9%, operating earnings increased 12.9%, and diluted EPS increased 14.7%. Operating margin of 10.0% was a 30-basis-point expansion from the year-ago quarter. |
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"During the first half of the year, each of our four segments achieved growth in revenue and earnings, with margins on a companywide basis expanding 50 basis points over the same period last year," said Phebe Novakovic, chairman and chief executive officer. "Our strong cash flow and healthy backlog position us well to have a good second half." |
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Cash and Capital Deployment |
| Net cash provided by operating activities in the quarter totalled $1.6 billion, or 158% of net earnings. During the quarter, the company paid $402 million in dividends, invested $198 million in capital expenditures, and reduced total debt by $897 million. The company ended the quarter with $8.7 billion in total debt and $1.5 billion in cash and equivalents on hand. |
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Orders and Backlog |
| Consolidated book-to-bill ratio, defined as orders divided by revenue, was 2.2-to-1 for the quarter. Book-to-bill was 2.4-to-1 for the defence segments and 1.3-to-1 for the aerospace segment. On a companywide basis, orders totalled $28.3 billion. Backlog at the end of the quarter was $103.7 billion. Estimated potential contract value, representing management's estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $57.5 billion. The total estimated contract value, the sum of all backlog components, was $161.2 billion. |
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About General Dynamics |
| Headquartered in Reston, Virginia, General Dynamics is a global aerospace and defence 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 $47.7 billion in revenue in 2024. More information is available at www.gd.com. |
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