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GD’s Earnings Fall On Operations Despite Solid Sales

Cal Biesecker By
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GD’s Earnings Fall On Operations Despite Solid Sales
Jason Aiken, chief financial officer and executive vice president of Technologies at General Dynamics. Photo: General Dynamics

General Dynamics [GD] on Wednesday reported a solid gain in sales in its third quarter due to strength across its defense segments but net income fell on lower operating earnings. Net income in the quarter was down 7 percent to $836 million, $3.04 earnings per share (EPS), from $902 million ($3.26 EPS) a year ago, still topping consensus estimates by 13 cents per share. Sales increased 6 percent to $10.6 billion from $10 billion a year ago. At the operating…

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