General Dynamics Boosts Forecast on Luxury Jets, Submarines
- Gulfstream's outfitted aircraft deliveries rise to 43 from 31
- Marine Systems posted 15 percent sales gain in third quarter
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General Dynamics Corp. raised its full-year profit forecast after third-quarter results beat analysts’ estimates on higher deliveries of Gulfstream business jets and surging sales at the submarine-building unit.
Earnings will be $8.90 to $9 a share, Chief Executive Officer Phebe Novakovic said on a conference call Wednesday, more than the previous range of $8.70 to $8.80. Gulfstream handed over 43 outfitted business jets, a dozen more than a year earlier. Revenue climbed 15 percent at the Marine Systems business, whose products include surface warships as well as U.S. Navy subs.