General Dynamics
Q2 2022 Earnings Call
Jul 27, 2022, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning, and welcome to the General Dynamics second quarter 2022 earnings call. My name is Brica, and I will be your event specialist today. [Operator instructions] I now have the pleasure of handing the call over to our host, Howard Rubel, vice president of investor relations. So, Howard, please go ahead.
Howard Rubel -- Vice President of Investor Relations
Thank you, operator, and good morning, everyone. Welcome to the General Dynamics second quarter 2022 conference call. Any forward-looking statements made today represent our estimates regarding the company's outlook. These estimates are subject to some risks and uncertainties.
Additional information regarding these factors is contained in the company's 10-K, 10-Q, and 8-K filings. We will also refer to certain non-GAAP financial measures. For additional disclosures about these non-GAAP measures, including reconciliations to comparable GAAP measures, please see the slides that accompany this webcast, which are available on the Investor Relations page of our website, investorrelations.gd.com. With that completed, I would like to turn the call over to our senior vice president and chief financial officer, Jason Aiken.
Jason Aiken -- Senior Vice President and Chief Financial Officer
Thank you, Howard. Good morning, everyone, and thanks for being with us. Before we get started, I want to let you all know that our chairman and chief executive officer, Phebe Novakovic, isn't able to join us this morning. She recently came down with COVID, but not to worry, she's on the mend and doing well, but she's asked me to cover today's call.
With me is Bill Moss, our vice president and corporate controller, who will cover some of the financial particulars that I would normally address. So with that, let's get into the results. Earlier this morning, we reported earnings of $2.75 per diluted share on revenue of $9.2 billion, operating earnings of $978 million, earnings before taxes of $923 million, and net income of $766 million. Revenue was essentially flat against the second quarter last year, but operating earnings were up $19 million.
Earnings before taxes were up $40 million, and net earnings were up $29 million. Earnings per share were up $0.14, a 5.4% increase. To be a little more granular, we enjoyed revenue increases at aerospace and marine systems, offset by declines at combat systems and technologies. We also had margin improvement in three of the four segments, which led to higher operating earnings and earnings before taxes against the year-ago quarter.