General Dynamics profit rises on robust business jet demand
2022.07.27 14:37
FILE PHOTO: A Gulfstream logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) at Geneva Airport, Switzerland May 28, 2018. REUTERS/Denis Balibouse/File Photo
(Reuters) -Gulfstream jet maker General Dynamics Corp (NYSE:GD) on Wednesday posted a 3.9% rise in second-quarter profit as demand for chartered flights remained strong, boosting the company’s aerospace products and services.
Corporate travel demand in the quarter remained robust as wealthier passengers opted for charter planes to avoid flight cancellations from regular carriers.
The company delivered 22 Gulfstream business jets, compared with 21 jets a year earlier.
Sales in its aerospace unit rose to $1.86 billion from $1.62 billion a year earlier, while overall revenue fell to $9.19 billion from $9.22 billion.
Net earnings rose to $766 million, or $2.75 per share, in the second quarter, from $737 million or $2.61 per share, a year earlier.
