Ship Deliveries, Contracts Drive GD's Q3 Spike

Greg Trauthwein, Editor

Gregory R. Trauthwein has covered the global maritime market for more than 25...

October 24, 2018

While General Dynamics (GD) is diverse, several significant shipbuilding projects helped to drive Q3 2018 earnings up 13.1% GD reported third-quarter 2018 earnings from continuing operations of $864 million, a 13.1 percent increase over third-quarter 2017. Revenue increased 20 percent to $9.1 billion.

Significant activities included the delivery of the Virginia-class submarine SSN 790 (future USS South Dakota), the keel-laying of the first John Lewis-class fleet replenishment oiler.

Significant shipbuilding awards in the quarter included $3.9 billion from the U.S. Navy for the construction of four Arleigh Burke-class (DDG-51) guided-missile destroyers; $580 from the Navy for surface ship maintenance and modernization work; $480 from the Navy to continue design and development work for the Columbia-class submarine program.