General Dynamics Corporation (NYSE: GD) reported higher earnings and revenues for the fourth quarter of 2022 when the company also registered strong backlog growth.
Net profit increased to $992 million or $3.58 per share in the final three months of 2022 from $952 million or $3.39 per share in the comparable period of last year. Revenues grew 5.4% annually to $1.85 billion.
“We enjoyed a strong fourth quarter, capping a good 2022. We had good backlog growth, with robust demand at Gulfstream. Operating performance was solid, led by excellent execution at Combat Systems. We also had another very strong cash year,” said Phebe Novakovic, chief executive officer of General Dynamics.