Gulfstream delivered 39 large and midsized-cabin aircraft worth $2.5 billion in the fourth quarter. [Courtesy: Gulfstream]
Key Takeaways:
General Dynamics' Gulfstream aerospace segment experienced its strongest year since 2008, driven by high demand that led to a 40% surge in backlog to $16.3 billion.
The company reported strong full-year net earnings of $3.3 billion on $38.5 billion in revenue, indicating overall business growth despite a slight dip in Q4 net earnings compared to 2020.
General Dynamics holds a substantial total estimated contract value of $127.5 billion and anticipates continued aerospace growth, projecting 123 airplane deliveries in 2022.
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.
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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.
