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GD’s Net Income Falls On Charge, But Operating Earnings Beat Estimates

Cal Biesecker By
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GD’s Net Income Falls On Charge, But Operating Earnings Beat Estimates
General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

General Dynamics [GD] on Wednesday reported lower net income due to a charge related to the former Navy A-12 stealth bomber program, but the company’s bottom line results topped consensus estimates, excluding the impact from the bomber program, which was killed by the Pentagon 25 years ago.Net income in the quarter slid 7 percent to $683 million, $2.21 earnings per share (EPS), from $733 million ($2.28 EPS) a year ago, dragged down by an $84 million (27 cents EPS) charge…

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