General Dynamics (NYSE: GD) reported Q3 EPS of $2.05, $0.13 better than the analyst estimate of $1.92. Revenue for the quarter came in at $7.75 billion versus the consensus estimate of $7.92 billion.

Total backlog at the end of third-quarter 2014 was $74.4 billion, up 56 percent from the third quarter of 2013. The estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $26.7 billion. Total potential contract value, the sum of all backlog components, was $101.1 billion at the end of the quarter.

Company-wide operating margins for the third quarter of 2014 were 12.9 percent, 50 basis points higher than third-quarter 2013 margins.

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