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Report: General Dynamics Posts 13% Increase in Q3 Mission Systems Segment Revenue

McAleese & Associates has provided an overview of General Dynamics’ (NYSE: GD) financial results in the third quarter of 2018.

The Falls Church, Va.-based defense contractor’s mission systems sector reported a 13 percent increase in Q3 sales with an operating margin of 14.6 percent, reflecting an 18 percent growth in sector profit during the quarter.

Jim McAleese

Jim McAleese, founder and principal at McAleese & Associates, wrote in the report that the company is “ecstatic” about Bath Iron Works subsidiary’s potential $3.9B multi-year contract with the U.S. Navy for four DDG-51 guided-missile destroyers.

“GD is happy to build fewer lower-risk/higher-profit DDG-51 ships; to avoid any potential of marring Electric Boat’s shining-decade of upcoming $96B of Columbia-class SSBN construction,” McAleese noted.

The report said the company also declared that it will honor its $1.7B capital expenditure commitment for the construction of the Columbia-class submarine.

General Dynamics saw its revenue rise 20 percent year-over-year to approximately $9.1B and recorded $864M in earnings from continuing operations during the third quarter, up 13.1 percent from the prior-year period.

 

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