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Business/Financial

GD Reports Higher Sales And Earnings In Second Quarter; Raises Guidance

By Cal Biesecker

Wednesday, July 24th, 2019

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GD Reports Higher Sales And Earnings In Second Quarter; Raises Guidance

General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

General Dynamics [GD] on Wednesday reported higher second quarter sales on strong gains in four of its five operating segments and earnings were also up on lower taxes and other non-operating benefits. Net income increased 3 percent to $806 million, $2.77 earnings per share (EPS), from $786 million ($2.62 EPS) a year ago, topping analysts’ expectations by 9 cents a share. Overall segment profits were flat as gains in the Mission Systems, Combat System and Marine Systems segments were offset…

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