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Lower Taxes Fuel Higher Earnings At General Dynamics In First Quarter

Cal Biesecker By
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Lower Taxes Fuel Higher Earnings At General Dynamics In First Quarter
General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

Federal tax cuts enacted into law this year propelled General Dynamics [GD] to higher net income in the first quarter despite a dip in operating earnings, the company reported on Wednesday.Net income rose 5 percent to $799 million, $2.65 earnings per share (EPS), from $763 million ($2.48 EPS) a year ago, topping consensus estimates by 17 cents per share. Sales increased a percent to $7.5 billion from $7.4 billion a year ago.At the operating level, income was down due to…

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