General Dynamics tops quarterly estimates on robust Gulfstream, marine bookings

Oct 30 (Reuters) General Dynamics on Friday beat Wall Street expectations for third-quarter profit and revenue on strong bookings in its Gulfstream business ​jet and shipbuilding units, sending the defense ‌contractor s shares up about 4% before the bell. The company recorded another strong quarter on higher Gulfstream jet deliveries, improving aerospace margins and steady progress on submarine production and robust bookings. Total ‌bookings ​during the quarter were 6.8 ⁠times billings, underscoring strong ⁠demand for the company s defense and aerospace products. General Dynamics said in July that supply-chain challenges were easing across its Gulfstream and Marine businesses, allowing ​it to ramp up production and reduce backlogs. Quarterly Gulfstream aircraft deliveries rose to 40 aircraft from ⁠last year s 39. The company is ⁠benefiting from strong demand for premium business ​jets, with aerospace orders reaching $5 billion in the quarter, ​while rising US and European defense spe