GD: Shipbuilding remains profitable despite labor and supply chain challenges

By Nick Wilson / October 26, 2022 at 12:49 PM
General Dynamics executives this week reported a profitable third quarter that was largely unimpeded by supply chain challenges and shipyard labor shortages. At $2.8 billion, the company’s marine systems revenue is up 5% year over year and is distributed evenly between the company’s submarine and shipbuilding wings -- General Dynamics Electric Boat and NASSCO. During the company’s quarterly earnings call on Wednesday, CEO Phebe Novakovic told investors that the first Columbia-class submarine, the Navy’s top acquisition priority, is 25% complete...

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