Gulfstream grew 2014 revenues by $531m


The Gulfstream G500 and G600 flying in formation.

Gulfstream increased its revenues by $531 million – up 6.5 per cent – to total $8.6 billion in 2014, when compared with the previous year. Revenues in the fourth quarter were up $105 million to total $2.2 billion, an increase of 4.9 per cent.

The aircraft manufacturer ended the year with a backlog of $13.2 billion, which was slightly smaller than last year’s total of $13.9 billion.

Gulfstream delivered 150 business jets in 2014, compared with 144 in 2013. Large-cabin jets accounted for 117 of these orders, while mid-size jets made up the remaining 33 deliveries.

Some 33 large-cabin jets and 9 mid-size jets were delivered in the final quarter of the year.

“General Dynamics’ performance in 2014 was very strong,” said Phebe Novakovic, chairman and CEO of General Dynamics, the parent company of Gulfstream. “We did what we said we would: increase operating earnings, margins and EPS through a relentless focus on operations and prudent capital deployment.

“In 2014, our earnings from continuing operations rose 7.5 percent, margins increased 70 basis points and EPS increased 11.4 percent compared to last year. We also had excellent free cash from operations of $3.2 billion and grew our backlog to more than $72.4 billion by year-end, a 58 per cent increase over the end of 2013.”

Gulfstream had a busy year in 2014, launching the G500 and G600 at a ceremony held in Savannah the week before NBAA 2014.

Core topics