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GD Posts Strong First Quarter On Defense, Business Jet Gains

Cal Biesecker By
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GD Posts Strong First Quarter On Defense, Business Jet Gains
Piranha 3+ Photo: General Dynamics European Land Systems

General Dynamics [GD] on Wednesday reported strong first quarter results led by its Combat Systems segment followed by its shipbuilding and aerospace businesses, although the bottom-line narrowly missed consensus estimates. Results also were below GD’s plans due to the Federal Aviation Administration certifying the Gulfstream G700 business jet later than expected, which meant no deliveries of the aircraft in the quarter versus the 15 originally planned. Still, GD’s Aerospace Segment showed well with low double-digit increases at the top and…

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