General Dynamics boasted nearly $12.91 billion in revenue in the third quarter of 2025 as well as increased submarine production, according to the company’s earnings call Friday. But gains were tempered by worries about the potential effects of an extended government shutdown.

“On a company-wide basis, we see annual revenue of around $52 billion and margins of around 10.3 percent,” General Dynamics CEO Phebe Novakovic said of the company’s outlook for the rest of the year.

But, she said: “Let me remind you that we’re in the midst of a government shutdown with no end in sight. The longer it lasts, the more it will impact us, particularly the shorter cycle businesses. So forecasts in this environment are difficult at best, and less reliable than one would hope.”

Government workers who

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