General Dynamics (NYSE: GD) reported $9.4 billion in revenue and $730 million in net earnings during the first quarter of 2022.
The Reston, Virginia-based defense contractor said Wednesday it ended the quarter with a total backlog of $87.2 billion and saw its aerospace backlog rise 8.1 percent to $17.6 billion.
The company’s marine segment posted $2.6 billion in sales, up 6.8 percent from the same period last year.
Technologies and combat systems segments recorded $3.1 billion and $1.6 billion in Q1 revenue, respectively.
“Our defense segments delivered solid performance on key programs across the portfolios,” said Phebe Novakovic, chairman and CEO of General Dynamics and a 2022 Wash100 awardee.
Major contract awards secured by the company’s three defense segments during the quarter include a potential 10-year, $4.5 billion contract with the National Geospatial-Intelligence Agency for hybrid cloud and information technology-related services and a $660 million contract for information, managed application, networking, enterprise and security services with the Environmental Protection Agency.
The company reported $2 billion in Q1 net cash from operating activities and $2.61 in diluted earnings per share, reflecting a 5.2 percent increase from the prior-year period.
