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GD Posts Solid Third Quarter; Supply Chain Issues Dampen Sales Outlook

Cal Biesecker By
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GD Posts Solid Third Quarter; Supply Chain Issues Dampen Sales Outlook
General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

General Dynamics [GD] on Wednesday reported solid financial results in its third quarter with low single digit top and bottom-line growth and strong free cash flow. Net income rose 3 percent to $860 million, $3.07 earnings per share (EPS), from $834 million ($2.90 EPS) a year ago, topping consensus estimates by 9 cents per share. Segment operating margin dipped 10 basis points to 11.3 percent. Sales were up 2 percent to $9.6 billion from $9.4 billion, and free cash flow…

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