General Dynamics Q3 Company-Wide Backlog Of $95.6B Was Highest In Company's History
Portfolio Pulse from Benzinga Newsdesk
General Dynamics reported a company-wide backlog of $95.6 billion, the highest in the company's history. The consolidated book-to-bill ratio was 1.4-to-1 for the quarter, with strength in the Marine Systems and Aerospace segments. The Aerospace segment received $2.9 billion in new orders, growing backlog to $20.1 billion.
October 25, 2023 | 11:05 am
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POSITIVE IMPACT
General Dynamics' record backlog suggests strong future revenues, which could positively impact the stock price in the short term.
A high backlog indicates strong demand for General Dynamics' products and services. This could translate into higher revenues in the future, which is generally positive for the stock price. The Aerospace segment's growth in new orders also suggests potential future growth.
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