General Dynamics 4Q Sales Rise, Lifted by Aerospace, Marine Systems
By Will Feuer
General Dynamics reported higher sales for the fourth quarter, powered by strong demand for the company's aerospace unit and its marine systems business, which makes nuclear-powered submarines.
The aerospace and defense company reported a profit of $1.01 billion, or $3.64 a share, up from $992 million, or $3.58 a share, in the same period a year earlier. Analysts surveyed by FactSet expected $3.68 a share.
Revenue rose nearly 8% to $11.67 billion. Analysts expected $11.39 billion.
Sales jumped nearly 15% in the company's marine-systems unit and 12% in the aerospace division. Combat-systems sales rose almost 9%.
Chief Executive Phebe Novakovic said the company's aerospace unit is well-positioned to see a surge in deliveries once the Federal Aviation Administration certifies the Gulfstream G700
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 24, 2024 07:29 ET (12:29 GMT)
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