Aircraft
Gulfstream Hits Stride as Bizjet Sales, Deliveries Soar
Business jet sales in the quarter were up 56%, while shipments climbed 39%
Gulfstream G800
Gulfstream G800 at Las Vegas Henderson Executive Airport © Mariano Rosales/AIN

Gulfstream Aerospace found its groove in the third quarter as business jet sales and shipments climbed 56% and 39%, respectively, Phebe Novakovic—chairman and CEO of parent General Dynamics—said this morning during an investor call. “There was robust order momentum at Gulfstream in the quarter,” she said, noting a 1.3:1 book-to-bill that increased aerospace backlog to $20.6 billion, a nearly $1 billion quarter-over-quarter rise.

The company’s aerospace unit, composed of Gulfstream and aviation services firm Jet Aviation, saw third-quarter revenues soar 30.3% year over year (YOY), to $3.234 billion, and earnings jumped 41%, to $430 million. For the first nine months, these figures were $9.322 billion (up 24.2% YOY) and $1.265 billion (up 43.9%), respectively. Driving the gains were higher jet deliveries, more special-mission work, and aircraft services, according to Novakovic.