General Dynamics reports Q1 EPS $3.66, consensus $3.46

Reports Q1 revenue $12.2B, consensus $11.94B. Each of the four segments saw increases in revenue and operating earnings over the year-ago quarter, with notable increases in Aerospace, where revenue was up 45.2%, operating earnings up 69.4%, and margins expanded 210 basis points to 14.3%.”We continue to see steady growth and improvement in operating performance across the defense portfolio,” said Phebe Novakovic, chairman and chief executive officer “The Aerospace segment saw a significant increase in profitability, reflecting the manufacturing efficiencies associated with reaching higher levels of production on our new aircraft models.”