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GD’s Earnings Rise On Lower Taxes As Sales Decline In Second Quarter

GD’s Earnings Rise On Lower Taxes As Sales Decline In Second Quarter
General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

General Dynamics [GD] on Wednesday said its net income in the second quarter edged up a bit despite a slight drop in sales on improved operating margins and the bottom line topped analysts’ estimates.Net income rose nearly a percent to $758 million, $2.44 earnings per share (EPS), from $752 million ($2.27 EPS) a year ago, topping Wall Street’s estimates by 13 cents EPS. The earnings results benefited from lower taxes in the quarter and a 30 basis point improvement in…

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