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Profit at General Dynamics Corp. increased 12% in the fourth quarter, as the defense contractor and jet maker saw gains in its combat-system business and marine-systems unit.
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The company on Wednesday reported net income of $1.02 billion, or $3.51 a share, up from $909 million, or $3.07 a share, in the fourth quarter of 2018.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GD | GENERAL DYNAMICS CORPORATION | 180.70 | -2.93 | -1.60% |
| RTN | RAYTHEON COMPANY | 225.94 | -1.68 | -0.74% |
| LMT | LOCKHEED MARTIN CORPORATION | 432.50 | -4.67 | -1.07% |
| BA | BOEING COMPANY | 324.36 | +7.80 | +2.46% |
| UTX | UNITED TECHNOLOGIES CORPORATION | 152.24 | -0.62 | -0.41% |
Sales rose about 4% from a year earlier to $10.77 billion. Analysts expected $10.65 billion in sales.
General Dynamics said sales from its combat systems segment, which develops vehicles, weapons systems and munitions for governments, rose 13% from a year earlier. The marine business, which creates products like nuclear-powered submarines, saw sales increase about 12%.
But sales in the company’s information technology unit fell 15%, General Dynamics said.
