General Dynamics Posts Higher Q2 Aircraft Deliveries

General Dynamics (GD) reported second-quarter results Wednesday that revealed a sizable gross bump driven by accrued craft deliveries.

The aerospace and defense contractor posted gross of $11.98 billion, up 18% year-over-year and supra analysts’ expectations of $11.49 billion, per Visible Alpha. Earnings per stock (EPS) roseate much than 20% to $3.26, conscionable beneath nan statement estimate of $3.27.

'Increased Demand successful Response To nan Threat Environment'

“In nan Aerospace segment, we are continuing to ramp up nan gait of our G700 deliveries and our defense businesses continued to grow, reflecting accrued request successful consequence to nan threat environment,” Chief Executive Officer (CEO) Phebe Novakovic said. 

General Dynamics’ Gulfstream section delivered 37 craft successful nan period, 31 of which were large-cabin vessels. That was up from 24 craft a twelvemonth earlier, 18 of which were large-cabin. 

Shares of nan institution slid much than 4% to $282.03 arsenic of 12:40 p.m. ET Wednesday but are up much than 8% for nan year.