General Dynamics beats by $0.22, beats on revs; Raises FY15 EPS guidance above consensus
Reports Q2 (Jun) earnings of $2.27 per share, $0.22 better than the Capital IQ Consensus Estimate of $2.05; revenues rose 5.5% year/year to $7.88 bln vs the $7.68 bln consensus. Co issues upside guidance for FY15, sees EPS of $8.70-8.80 vs. $8.61 Capital IQ Consensus Estimate.
Backlog
General Dynamics' backlog remained steady at the end of second-quarter 2015, with funded backlog at $55.4 billion and total backlog of $70 billion. Aerospace backlog increased by seven percent in the quarter, with strong order activity across the product line. Information Systems and Technology also had several notable orders in the quarter leading to higher backlog. Estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $25.6 billion. Total potential contract value, the sum of all backlog components, was $95.6 billion at the end of the quarter.
Backlog
General Dynamics' backlog remained steady at the end of second-quarter 2015, with funded backlog at $55.4 billion and total backlog of $70 billion. Aerospace backlog increased by seven percent in the quarter, with strong order activity across the product line. Information Systems and Technology also had several notable orders in the quarter leading to higher backlog. Estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $25.6 billion. Total potential contract value, the sum of all backlog components, was $95.6 billion at the end of the quarter.