General Dynamics (NYSE: GD) reported Q2 EPS of $2.45, $0.02 better than the analyst estimate of $2.43. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.75 billion.

General Dynamics' total backlog at the end of second-quarter 2017 was $58.6 billion. There was order activity across the Gulfstream product portfolio and strong demand for defense products, including another quarter of a book-to-bill ratio (orders divided by revenue) greater than one-to-one in the Information Systems and Technology group. The estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $24.4 billion. Total potential contract value, the sum of all backlog components, was $83 billion at the end of the quarter.

GUIDANCE:

General Dynamics sees FY2017 EPS of $9.70-$9.75, versus the consensus of $9.80.

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