General Dynamics beats by $0.15, beats on revs
- Reports Q3 (Sep) earnings of $2.28 per share, $0.15 better than the Capital IQ Consensus of $2.13; revenues rose 3.1% year/year to $7.99 bln vs the $7.84 bln Capital IQ Consensus.
- General Dynamics' total backlog at the end of third-quarter 2015 was $68.7 billion. The Aerospace group continued to experience steady demand in the quarter with order activity for each of the products in the Gulfstream portfolio. Also, each of the defense businesses had significant orders in the quarter. The estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $25.5 billion. Total potential contract value, the sum of all backlog components, was $94.3 billion at the end of the quarter.