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BIW Labor And Supply Problems Partly Blamed For Parent Company’s Disappointing Profit Estimates
['Ted Cohen']
The Maine Wire
The shipbuilding segment of General Dynamics, including Bath Iron Works, has put a damper on the company’s annual profit forecast, officials said Wednesday.
General Dynamics beat fourth-quarter profit and revenue estimates on Wednesday, driven by growth in combat and marine systems segments.
BIW, which became a General Dynamics subsidiary in 1995, is part of the company’s marine division.
Though it saw increased productivity during the last quarter, it wasn’t enough to boost annual profit expectations.
Annual profit is expected to range between $16.10 and $16.20 per share, while analysts on average were estimating $17.29 per share.