GD General Dynamics Corporation

By Matt Grossman

General Dynamics Corp. recorded 1.5% sales growth in the third quarter, as gains in its aerospace and marine divisions more than offset declines in combat-systems and technologies revenue.

The Reston, Va.-based aerospace-and-defense company on Wednesday posted earnings of $3.07 a share, up from $2.90 a share a year earlier. Analysts surveyed by FactSet had forecast earnings of $2.98 a share.

Total net earnings were $860 million, up from $834 million, it said.

Revenue rose to $9.57 billion from $9.43 billion, it said. Analysts had expected revenue of $9.85 billion.

The company's backlog finished the quarter at $88.1 billion, an 8.1% on-year increase.

Aerospace revenue rose 4.6% to $2.07 billion, and marine-systems revenue was 9.6% higher at $2.64 billion, the company said.

Combat-systems revenue and technologies revenue declined by 3.1% and 4%, respectively, it said.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

October 27, 2021 07:59 ET (11:59 GMT)

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