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Business/Financial

GD’s Income Up In Second Quarter Driven By Aerospace

By Cal Biesecker

Wednesday, July 27th, 2022

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GD’s Income Up In Second Quarter Driven By Aerospace

Virginia-class submarine built by General Dynamics's Electric Boat division. Labor shortages crimped the program during the second quarter. Photo: GD

General Dynamics [GD] on Wednesday reported higher earnings in its second quarter despite flat sales on strong results in its operating segment to build business jets and provide aerospace services. Net income rose 4 percent to $766 million, $2.75 earnings per share (EPS), from $737 million ($2.61 EPS) a year ago, topping consensus estimates by three pennies per share. Sales were $9.2 billion, level with a year ago. The Aerospace segment benefited from a more than 35 percent increase in…

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