By Dean Seal
General Dynamics recorded higher earnings in the first quarter as its aerospace segment improved its profitability and revenue climbed.
The aerospace and defense company posted a profit of $994 million, or $3.66 a share, compared with $799 million, or $2.88 a share, in the same quarter a year earlier.
Analysts surveyed by FactSet had been expecting $3.50 a share.
Revenue was up 14% at $12.22 billion, topping analyst projections for $11.98 billion, according to FactSet.
The Reston, Va., company brought in $10.2 billion in orders and finished the quarter with a backlog of $88.66 billion.
Chief Executive Phebe Novakovic said the company's aerospace business saw a big jump in profitability thanks to manufacturing efficiencies tied to it reaching higher levels of production on new aircraft models.
"We continue to see steady growth and improvement in operating performance across the defense portfolio," Novakovic said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 23, 2025 07:12 ET (11:12 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。