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GD Reports Solid Earnings, Flat Sales In Third Quarter

Cal Biesecker By
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GD Reports Solid Earnings, Flat Sales In Third Quarter
AJAX armored fighting vehicle being developed by General Dyanmics’s U.K. business for the British Army. Photo: General Dynamics

General Dynamics [GD] on Wednesday posted solid earnings results in its third quarter driven by its combat vehicles business amid a downtick in sales.Net income jumped 18 percent to $764 million, $2.52 earnings per share (EPS), from $647 million ($2.13 EPS) a year ago, topping consensus estimates by nine cents per share. Last year’s third quarter included an $84 million loss associated with the company’s 2013 settlement of litigation with the Navy over the former A-12 stealth bomber program, which…

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