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

Cal Biesecker By
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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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