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GD’s Earnings Dip Despite Strong Sales In Second Quarter

Cal Biesecker By
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GD’s Earnings Dip Despite Strong Sales In Second Quarter
General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

General Dynamics [GD] on Wednesday posted lower net income despite strong sales growth in its second quarter in part due to a decline in operating earnings at its Technologies and Aerospace segments and a combination of other items. The company’s defense businesses did well overall with sales up 12 percent driven by demand for domestic and international combat vehicles, munitions, work on the Columbia-class ballistic missile nuclear submarine—the first vessel is about 36 percent complete—fleet oilers, and new programs at…

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