General Dynamics notched higher profit and revenue in the third quarter, as performance once again improved across all of the company's lines of business.
The defense company on Friday posted a profit of $1.23 billion for its three months ended Oct. 4, compared with $1.06 billion in last year's comparable period. Quarterly earnings came in at $4.49 a share, ahead of the $4.12 a share that analysts polled by FactSet had expected.
Revenue climbed 13% to $14.57 billion, topping Wall Street estimates for $13.72 billion.
General Dynamics grew revenue across all four of its business segments, led by marine systems, its largest and fastest growing business, with revenue up 21% to $4.96 billion.
Orders received in the quarter totaled $93.8 billion, driven by large orders in the marine systems division, the company said. Total estimated contract value stood at $270.7 billion at the end of the quarter, including a backlog of $220.3 billion and estimated potential contract value of $50.4 billion.
"With the consistent growth in our backlog and our significant investment in our businesses over the last decade, we are poised to drive continued performance in the years to come," Chief Executive Phebe Novakovic said.
Shares climbed 3.7%, to $384.60, in premarket trading.
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