General Dynamics 4Q Sales Rise, Lifted by Aerospace, Marine Systems
January 24 2024 - 6:44AM
Dow Jones News
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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