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GD’s Second Quarter Earnings Rise On Lower Taxes

Cal Biesecker By
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GD’s Second Quarter Earnings Rise On Lower Taxes
General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

Lower taxes and improved operating profits more than offset higher costs related to a recent acquisition as General Dynamics [GD] on Wednesday posted higher earnings and sales in its second quarter.GD said net income increased 5 percent to $786 million, $2.62 earnings per share (EPS), from $749 million ($2.45 EPS) a year ago, topping consensus estimates by 12 cents EPS. Most of the gain was driven by a lower tax rate, which more than offset various transaction costs and higher…

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