General Dynamics tops quarterly results as Gulfstream, marine drive bookings
GD•General Dynamics beat third-quarter profit and revenue expectations, reporting earnings of $4.49 per share and revenue of $14.57 billion. Gulfstream deliveries and shipbuilding operations were strong.
1. Quarterly results
For the quarter ended October 4, General Dynamics reported profit of $4.49 per share, above the $4.13 analyst estimate, and revenue of $14.57 billion, up nearly 13% from a year earlier and above the $13.73 billion estimate.
2. Business performance
The company cited higher Gulfstream jet deliveries, improving aerospace margins, steady progress on submarine production and robust cash generation. It said in July that easing supply-chain challenges across its Gulfstream and Marine businesses were allowing it to ramp up production and reduce backlogs.
