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.
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