By Sabela Ojea


General Dynamics Corp. on Wednesday posted a rise in profit and revenue for the third quarter, boosted by strong levels of demand in its aerospace, combat system and marine system business divisions.

The global aerospace and defense company said net income rose to $902 million, or $3.26 a share, compared with $860 million, or $3.07 a share, a year earlier.

Revenue rose 4.3%, to $9.98 billion. Analysts polled by FactSet had been expecting revenue of $9.92 billion.

Orders remained strong across the company with a consolidated book-to-bill ratio, General Dynamics said, noting that backlog from its aerospace unit grew to $19.1 billion in the quarter.

"Our businesses delivered solid operating performance and cash flow even as they managed through the challenges of inflation and supply chain constraints, Chairman and Chief Executive Phebe N. Novakovic said on the group's free cash flow of $1 billion in the period.


Write to Sabela Ojea at sabela.ojea@wsj.com


(END) Dow Jones Newswires

10-26-22 0731ET