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CLAIM #25532 · GD (GD) · 2024Q3 earnings call · Oct 23, 2024 · due Dec 31, 2024

we now expect to deliver around 42 for the year with 27 in the fourth quarter.

Phebe Novakovic · CEO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

e is always risk and precise estimates, I will describe our delivery cadence a bit later and provide some monthly forecast so that you can monitor the quarter from publicly available data. Alright, back to some good numerical comparisons. For the year-to-date, aerospace revenue is up $1.63 billion, an increase of 27.7%. Operating earnings were up $146 million, an increase of almost 20%. I recite these figures, which will reflect even more growth by the end of the year so that we do not get lost in the third quarter delivery issue. This is still eye-watering growth. So what impact should we now expect for the fourth quarter and the year given the fewer-than-planned G700 deliveries in the second quarter and third quarters. You may recall that we expected to deliver 50 to 52 G700s this year, we now expect to deliver around 42 for the year with 27 in the fourth quarter. This number is not without risk, but there's also some opportunity to bring planes forward. The real issue here is supply chain support during this critical period. Let me give you some insight into the sequencing of the 27 planned deliveries in the quarter. We anticipate five in October, nine in November and 13 in December, recognizing there is some risk as these numbers could vary a little bit up or down through the quarter. You can, as I have said, follow this with fairly accurate but not perfect publicly available data. Turning to market demand, the interest level of buyers and the expiration of accelerated depreciation at year's end suggests a reasonably strong order intake in the fourth quarter, and that is what we are seeing. After some slowing in the U.S. during the second and thi

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SEC filings for GD · Claim quote is verbatim from the 2024Q3 earnings call.