General Dynamics Reports Strong Q3 Revenue

(Reuters) – General Dynamics reported a more than 10% rise in third-quarter revenue on Wednesday, driven by strength in its defense units amid sustained demand for military munitions and vehicles.

The Reston, Virginia-based company reported quarterly revenue of nearly $11.67 billion, up from $10.57 billion a year ago.

The ongoing conflicts in Ukraine and the Middle East and the United States' efforts to replenish its inventory are driving global demand for weapons and other military equipment.

For the quarter ended Sept. 29, the company's nuclear-powered submarine making marine systems segment saw a nearly 20% rise, while its aerospace segment, which makes Gulfstream business jets, also rose nearly 22% from a year ago.

Total deliveries in the company's aerospace segment rose to 24 jets, including four G700s, from 22 a year ago.