Reported about 1 month ago
General Dynamics announced a more than 10% increase in third-quarter revenue, primarily driven by its defense sector, with total revenue reaching nearly $11.67 billion. However, profits were affected by a decrease in business jet deliveries, attributed to delays in engine availability. The aerospace segment saw a 22.1% revenue increase, but profit margins dropped slightly compared to last year. The company also revised its earnings outlook for 2024 and highlighted challenges in submarine component deliveries despite significant contract awards from the Pentagon.
Source: YAHOO