Story ID: 1102214alerts
Gulfstream Deliveries Continue Ascent in Third Quarter
By: Chad Trautvetter
Caption: During the quarter, Gulfstream delivered 38 green aircraft (32 large-cabin and six midsize jets) versus 34 (28 large-cabin and six midsize) last year.
Word Count: 202
Gulfstream Aerospace and Jet Aviation parent company General Dynamics reported third-quarter revenues of $7.751 billion, up $16 million from a year ago, while earnings rose 16-percent, to $696 million, the company reported today. At the aerospace division, revenues in the quarter climbed $137 million year-over-year, to $2.289 billion, and earnings rose by $42 million, to $411 million.

During the quarter, Gulfstream delivered 38 green aircraft (32 large-cabin and six midsize jets) versus 34 (28 large-cabin and six midsize) in the same period last year. In the first nine months, the Savannah, Ga.-based aircraft manufacturer delivered 106 green jets (87 large-cabin and 19 midsize), up from 99 (83 large-cabin and 16 midsize) in 2013.

Aerospace backlog at the end of the third quarter eroded slightly to $13.924 billion, compared with $14.648 billion three months earlier. General Dynamics chairman and CEO Phebe Novakovic expects aerospace backlog to increase in the fourth quarter thanks to “strong order intake due to new products,” namely the Gulfstream G500 and G600. “Customers now have the option of taking delivery of a G450 or G550 in the near term or waiting for the G500 or G600,” she noted. Backlogs for the G450 and G550 extend to the first quarter of 2016, while the G500 and G600 won’t be available until 2018 and 2019, respectively.