General Dynamics Reports Strong Third Quarter Led by Shipbuilding

Defense Daily reports that General Dynamics posted strong third-quarter sales and earnings, led by its shipbuilding business and followed by its Aerospace segment.

Key points

• Operating income: The Marine Systems segment's operating income rose 34 percent from a year earlier to $391 million.
• Margin: Operating margin was 7.9 percent, up 80 basis points.
• Sales: Marine Systems sales were $5 billion, 21 percent higher than a year ago.
• Drivers: Defense Daily attributes the increase to construction work on Columbia-class and Virginia-class submarines, followed by destroyers.

Quick take

The company reported the results on Friday. Further detail, including the rest of the sales drivers, is in the full Defense Daily report.

Read the full story at Defense Daily.