General Dynamics Boosted by Gulfstream, Defense Orders -- Earnings Review

   By Austen Hufford

General Dynamics Corp.(GD) reported first quarter results Wednesday. Here's what you need to know:

REVENUE: The company said revenue rose 1.3% to $7.54 billion, with order activity across the company's Gulfstream product portfolio and strong demand for its defense products.

EARNINGS: The company posted net income of $799 million, or $2.65 a share, compared to $763, or $2.48 a share, a year earlier.

SHARES: In premarket trading, shares fell 0.1%.

QUOTE: "General Dynamics delivered solid first-quarter results, with growth in revenue, net earnings and EPS," Chief Executive Phebe Novakovic said. "This is a strong start to 2018 and we remain confident in our outlook."

MARGIN: Company-wide operating margin fell to 13.4% from 14.1% in first quarter of 2017.

BACKLOG: General Dynamics said its total backlog at the end of quarter was $62.1 billion. General Dynamics's total backlog at the end of 2017 was $63.2 billion.

Write to Austen Hufford at Austen.Hufford@wsj.com

(END) Dow Jones Newswires

April 25, 2018 08:11 ET (12:11 GMT)

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