![]() GD anticipates that the supply-chain constraints of the Virginia submarine program will have an impact on its 2023 performance. The company has been witnessing supply-chain issues in its defense business, particularly in the Marine Systems (the submarine supply chain) and Technologies segments. Federal Aviation Administration certification for G700, which has logged more than 3,200 test hours. The aforementioned unit is currently in the process of flight testing and seeking U.S. ![]() This jet features a technologically advanced flight deck, consisting of new engines that deliver high-speed performance. ![]() On the product development front, General Dynamics’ Gulfstream Aerospace unit is working on the ultra-long-range, ultra-large-cabin jet named G700. This uptick in order inflow was driven by strong demand across the company’s product and services portfolio, as well as orders for all models of Gulfstream aircraft. The company plans to invest $1.8 billion in the expanded and modernized facilities at Electric Boat to support submarine construction.Īt the end of the first quarter, General Dynamics witnessed a record order backlog of $89.8 billion, up 3% from that registered in the year-ago period. This is evident as capital expenditures in the first quarter of 2023 amounted to $161 million, up 14.2% from the prior-year quarter’s level. General Dynamics has been investing in its business to enhance operating efficiency, innovation and affordability for its customers. However, this Zacks Rank #3 (Hold) company has to face supply-chain issues that continue to pose risks for its Marine Systems’ submarine programs and Technologies segment. The constant rise in GD’s backlog indicates a solid demand for its products, thereby bolstering its revenue generation prospects. ![]() General Dynamics Corporation’s ( GD Quick Quote GD - Free Report) focus on product innovations should help maintain a steady growth momentum and drive earnings performance. ![]()
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