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Escalating tensions between China and the Philippines, the
Russia-Ukraine war and conflicts in the Middle East have boosted
orders for U.S. defense firms such as General Dynamics, Lockheed
Martin and RTX's defense arm Raytheon.
General Dynamics' Combat Systems unit, which makes tanks, posted
a 14.8% rise in revenue from a year earlier.
However, pandemic-related disruptions in labor and ongoing
supply-chain snags are hampering efforts to deliver on these
record weapons orders and increasing expenses.
Analysts have also raised concerns that supply-related risks are
unlikely to dissipate quickly.
Net earnings at the Reston, Virginia-based defense contractor
came in at $3.64 per share, below analysts' average estimates of
$3.68, according to LSEG data.
The company's quarterly revenue increased 7.5% to $11.7 billion.
Analysts on average were expecting $11.4 billion.
(Reporting by Mehr Bedi in Bengaluru; Editing by Devika Syamnath)
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