It reported net income of $905 million for the quarter ended June 30, compared with $744 million a year earlier. The $95 billion Ukraine-Israel aid bills passed by Congress earlier this year were expected to boost the order backlog for General Dynamics, which makes some of the artillery which is in heavy use in Ukraine. Other major companies that receive government contracts, such as Lockheed Martin, RTX Corp and Northrop Grumman should also eventually expect a lift from the funds. ongoing geopolitical conflicts. Profits at General Dynamics’ combat systems unit, which makes vehicles and tanks, were $313 million in the quarter, up 25% versus the same period a year ago. General Dynamics reported quarterly earnings per share of $3.26, just belowanalyst estimates of $3.27, but revenue of $11.9 billion was well above analyst estimates of $11.4 billion according to LSEG data. The Reston, Virginia-based company reported a quarterly revenue of $11.98 billion, up from $10.15 billion a year ago. 10 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 07
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