Gulfstream delivered 39 large and midsized-cabin aircraft worth $2.5 billion in the fourth quarter. [Courtesy: Gulfstream]
Key Takeaways:
General Dynamics reported its strongest year for Gulfstream since 2008, with high demand for business jets driving a 40 percent increase in the aerospace segment's backlog to $16.3 billion.
The company achieved full-year net earnings of $3.3 billion on $38.5 billion in revenue, an increase from the previous year, supported by strong operating performance and favorable cash flow.
General Dynamics' total estimated contract value reached $127.5 billion, indicating a robust pipeline of future business, including new defense contracts for gun systems.
Last year was the strongest year for Gulfstream since 2008, General Dynamics (NYSE: GD) said in its fourth-quarter earnings call Wednesday.
“Our continued focus on operating performance and protecting the health and safety of our employees contributed to strong fourth-quarter and full-year results,” General Dynamics’ chairman and CEO Phebe Novakovic said in a statement.
CREATE A FREE ACCOUNT
Sign up to keep reading
Create a free account to continue. Already a member? Sign in below.
Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
