Sales, Deliveries, Revenues Soar at Gulfstream

 - January 29, 2020, 12:27 PM
Gulfstream delivered four more midsize jets in 2019 than in 2018. (Photo: Gulfstream Aerospace)

Fourth-quarter sales soared 54 percent year-over-year at Gulfstream Aerospace, resulting in the second-best quarter ever and the highest one in 10 years, parent company General Dynamics reported this morning. Book-to-bill was 1.7:1 in the final quarter and 1.2:1 for the whole year, according to General Dynamics chairman and CEO Phebe Novakovic. Gulfstream demand was healthy across all of its product lines and by world regions, she said, pointing out that order activity rose in “Asia, the Middle East, and, particularly, Europe.”

Last year, Gulfstream delivered 147 aircraft (114 large-cabin and 33 midsize jets)—two more than forecast and 26 more than the 121 (92 large-cabin and 29 midsize jets) shipped in 2018. Novakovic said Gulfstream is expected to deliver 150 aircraft this year.

A favorable delivery mix also resulted in higher revenues and earnings at General Dynamics’ aerospace unit, which includes both Gulfstream and Jet Aviation. Full-year revenue for the division climbed 15.9 percent year-over-year, to $9.8 billion, while earnings jumped 2.8 percent, to $1.5 billion for the year. Backlog grew $2 billion during the fourth quarter, to $13.3 billion.

Meanwhile, Novakovic said all five flight-test G700s are assembled, with the fifth aircraft now being outfitted with an interior. First flight of the G700 is planned for the first half of this year, with service entry slated for 2022.