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Aerospace Business Powers GD To Solid First Quarter

Cal Biesecker By
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Aerospace Business Powers GD To Solid First Quarter
GD Chairman and CEO Phebe Novakovic. Photo: GD

Led by its Aerospace segment, General Dynamics [GD] on Wednesday posted a solid first quarter financial results with a modest increase in net income despite a slight decline in sales. Net income increased 4 percent to $595 million, $1.71 earnings per share (EPS), from $571 million ($1.62 EPS), topping analysts’ expectations by seven cents. Earnings benefited from a lower tax rate and higher margins, which increased 50 basis points to 11.9 percent due to reduced lower operating expenses. “This is…

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