During the quarter, the Pentagon modified a submarine production contract awarded to the company’s marine segment, raising the value by $1.85 billion.<\/a><\/p>\nThe company entered into a new contract with union members at its submarine-making unit, averting a shortage of skilled labor that has contributed to delays in U.S. Navy shipbuilding schedules.<\/p>\n
The technologies segment, which makes products for a range of military, intelligence, federal civilian, and state customers, generated 5.5% more revenue year-on-year.<\/p>\n
Defense manufacturers benefited from strong demand for weapons and other military equipment during the quarter, owing to geopolitical uncertainty and ongoing conflicts in the Middle East.<\/p>\n
New bookings during the quarter were 2.4 times its billing for General Dynamics’ defense segments, indicating a strong order book.<\/p>\n
However, revenue within the combat systems part of the defense business, which manufactures land combat vehicles, weapons systems, and munitions, edged down 0.2% after taking a hit from the cancellation of the M10 Booker contract by the Pentagon as well as production delays owing to supply chain woes.<\/p>\n
Annual revenue in the combat segment is forecast to be $9.2 billion with a 14.5% margin.<\/p>\n
The Reston, Virginia-based company’s quarterly adjusted profit was $3.74 per share, compared with analysts’ estimates of $3.53 per share, according to data compiled by LSEG.<\/p>\n
It expects profit for the year to range between $15.05 and $15.15 per share.<\/p>\n
(Reuters)<\/p>\n
marine link<\/p>\n","protected":false},"excerpt":{"rendered":"
General Dynamics’\u00a0second-quarter profit and revenue topped analyst estimates, driven by\u00a0robust orders in its marine segment from Columbia- and Virginia-class submarine programs, boosting shares 5% in early trading. The defense company’s nuclear-powered submarine-making marine systems segment produced 22.2% more revenue. The unit is now expected to generate 2025 revenue of $15.6 billion with a 7% margin. …<\/p>\n","protected":false},"author":1,"featured_media":64630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[4826,3551,3218,3543,1574,322],"class_list":["post-64629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-dynamic","tag-general","tag-powers","tag-profit","tag-revenue","tag-shipbuilding"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/64629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=64629"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/64629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/64630"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=64629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=64629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=64629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}