General Dynamics 3Q Results Higher, Sales Dip

Features Reuters

General Dynamics Corp, maker of Gulfstream business jets and U.S. Navy warships, reported higher earnings and operating margins in the third quarter despite a dip in revenue.

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The company said on Wednesday that net earnings rose 8.5 percent to $651 million from $600 million in the year earlier period, while revenues fell 1.7 percent to $7.93 billion. Earnings per share increased 8.2 percent to $1.84 from $1.70.

Revenues were largely in line with Wall Street estimates, but earnings beat expectations from analysts polled by Thomson Reuters I/B/E/S, who had forecast EPS of $1.68.