Gulfstream Flying into a ’Very Strong’ Year

Gulfstream’s third-quarter results show double-digit improvements in net sales (14.3 percent) and operating earnings (34.3 percent), as well as an increase in backlog and a marked jump in aircraft deliveries, compared with the same nine-month period last year. In its quarterly report, issued yesterday, Gulfstream parent company General Dynamics said Gulfstream delivered 46 large aircraft (G350, G450, G500 and G550) and 19 midsize jets (G100 and G200) in the first three quarters versus 41 large jets and 16 midsize jets in the same period last year. “Gulfstream’s order activity remains very strong, in both a dollar and unit basis,” said GD chairman and CEO Nichols Chabraja. “Gulfstream’s book-to-bill ratio exceeds one to one.” According to Chabraja, at the end of the third quarter, 90 percent of large aircraft and more than 62 percent of midsize aircraft production slots were sold. “In the first two weeks of the fourth quarter we have received five orders and have taken 19 letters of intent funded with deposits. So, we are further along than we were a year ago at this time by quite a bit.”