Welcome to our dedicated page for General Dynamics Corporation news (Ticker: GD), a resource for investors and traders seeking the latest updates and insights on General Dynamics Corporation stock.
General Dynamics Corporation (NYSE: GD) is a global leader in aerospace and defense, offering a broad portfolio of products and services that cater to the safety and security needs of people worldwide. Headquartered in Reston, Virginia, the company operates through four main segments: Aerospace, Marine Systems, Combat Systems, and Technologies.
Aerospace: This segment is renowned for its Gulfstream business jets, which include the recently FAA-certified G700. Gulfstream not only manufactures these aircraft but also provides comprehensive global servicing.
Marine Systems: General Dynamics' Marine Systems segment builds and services nuclear-powered submarines, destroyers, and other naval vessels. The company recently secured a significant U.S. Navy contract for maintenance and modernization projects, ensuring long-term commitments to the Navy’s fleet.
Combat Systems: This segment produces land-based combat vehicles such as the M1 Abrams tank and Stryker armored personnel carrier, along with associated munitions. The company has received major contracts from both U.S. and international defense agencies, including a new deal with Austria for Pandur 6x6 EVO wheeled armored vehicles.
Technologies: The Technologies segment includes IT services primarily for the government market and mission systems that offer command, control, computing, intelligence, surveillance, and reconnaissance capabilities. Recent achievements include a $2.5 billion contract to modernize the Indian Health Service's electronic health record system and a $450 million contract to support the Centers for Medicare and Medicaid Services.
General Dynamics employs over 100,000 people globally, maintaining a presence in 65 countries. The company generated $42.3 billion in revenue in 2023, reflecting steady growth and strong financial performance. The company’s culture of continuous improvement and innovation ensures its agility and relevance in meeting future demands. For the latest updates, financial results, and more information, visit GD.com.
General Dynamics Land Systems has been awarded a $1.14 billion Low Rate Initial Production (LRIP) contract by the U.S. Army for its Mobile Protected Firepower (MPF) vehicle. This competitive award enhances firepower for Infantry Brigade Combat Teams (IBCTs). The MPF is a mobile direct-fire combat vehicle designed with advanced features like a large-caliber cannon and modern systems, ensuring mobility and survivability on the battlefield. The contract also includes support for testing, logistics, and technical systems.
Gulfstream Aerospace Corp., a subsidiary of General Dynamics (GD), announced the successful first flight of its ultralong-range G800 aircraft on June 28, 2022, marking a key milestone in its flight-test program. The G800 can travel 8,000 nautical miles at Mach 0.85, highlighting its superior fuel efficiency and advanced technology, including Rolls-Royce Pearl 700 engines. Gulfstream's investment in innovative aircraft aims to fulfill market demand, with strong customer interest projected for the G800.
The board of directors of General Dynamics (NYSE: GD) announced a quarterly dividend of $1.26 per share on June 1, 2022. This dividend is payable on August 5, 2022, to shareholders of record by July 1, 2022. General Dynamics is a global aerospace and defense firm, generating $38.5 billion in revenue in 2021, and employing over 100,000 individuals worldwide. The dividend declaration reflects the company's commitment to returning value to its shareholders.
General Dynamics Mission Systems and Iridium Communications have secured a $324.5 million contract from the Space Development Agency. This funding includes a base amount of $163 million and $161.5 million in options. The contract aims to establish the ground Operations and Integration (O&I) segment for Tranche 1 of the National Defense Space Architecture (NDSA). The collaboration will create ground entry points and operations centers while providing essential network operations and systems integration services for upcoming low-earth orbit satellites.
General Dynamics Mission Systems (NYSE: GD) and Iridium Communications Inc. (NASDAQ: IRDM) have secured a contract worth $324.5 million from the Space Development Agency. The deal includes a base amount of $162.9 million and $161.6 million in options to establish ground Operations and Integration (O&I) for Tranche 1 of the National Defense Space Architecture (NDSA). This collaboration will develop ground entry points and operations centers, enhancing the capabilities of low-earth orbit satellites.
General Dynamics Electric Boat has secured a $313.9 million modification to the Columbia Integrated Product and Process Contract from the Naval Sea Systems Command. This funding will enhance the Columbia-class fleet ballistic missile submarines and support the UK Strategic Weapon System kits. The Columbia-class submarines, measuring 560 feet and displacing nearly 21,000 tons, will be the largest submarines ever built by the US, with the lead ship expected to be delivered in 2027. General Dynamics continues to ramp up production capabilities amid increasing demand.
General Dynamics Mission Systems has been awarded a contract by the National Security Agency to develop a 400 Gbps high-assurance encryption solution. This solution complies with the Ethernet Data Encryption Cryptographic Interoperability Specification (EDE-CIS) and will utilize the TACLANE E-Series Adaptable Security Platform. The system can scale up to 1.6 Tbps and is designed for efficient power consumption and high operational availability. This contract highlights General Dynamics' commitment to advancing data security technology for defense and intelligence applications.
General Dynamics (NYSE:GD) has appointed Charles F. Krugh as the new president of Bath Iron Works, effective May 5, 2022. With a robust background in aerospace manufacturing and complex supply chain management, Krugh is expected to bolster shipbuilding capabilities for the U.S. Navy. Previously, he held significant roles at General Dynamics, including vice president for supplier operational support at Gulfstream. Krugh's leadership is anticipated to enhance operational efficiency and growth at Bath Iron Works, part of General Dynamics' extensive portfolio that generated $38.5 billion in revenue in 2021.
General Dynamics Information Technology (GDIT) has been awarded a $661.6 million task order by the Environmental Protection Agency (EPA) for Managed Application, Infrastructure, Networking, Enterprise, and Security Services (MAINES). This order, granted in Q1 2022, includes a one-year base and six option years. GDIT will enhance the EPA's IT infrastructure and application platforms through services such as cloud computing, cybersecurity, and enterprise network operations. This partnership continues GDIT's longstanding commitment to supporting the EPA's mission of protecting human health and the environment.
FAQ
What is the current stock price of General Dynamics Corporation (GD)?
What is the market cap of General Dynamics Corporation (GD)?
What does General Dynamics Corporation do?
Where is General Dynamics headquartered?
Who is the CEO of General Dynamics?
What are the main segments of General Dynamics?
What recent contracts has General Dynamics secured?
How many people work at General Dynamics?
What was General Dynamics' revenue in 2023?
What products are included in the Aerospace segment?
What type of vehicles does the Combat Systems segment produce?
What does General Dynamics' Technologies segment focus on?
