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RESTON, Va. - General Dynamics (NYSE:GD) reported fourth-quarter earnings that fell short of analyst expectations, sending shares down -1.28% in early trading Wednesday.
The aerospace and defense company posted adjusted earnings per share of $4.15, missing the consensus estimate of $4.30. Revenue came in at $13.34 billion, slightly above the $13.22 billion analysts were expecting.
"We had a solid fourth quarter, capping off a year that saw steady growth in revenue and earnings across all four segments," said Phebe N. Novakovic, chairman and chief executive officer.
Revenue for the quarter rose 14.3% YoY to $13.34 billion. For the full year 2024, revenue increased 12.9% to $47.72 billion.
The company’s Aerospace segment, which includes Gulfstream business jets, delivered 47 aircraft in Q4, up from 39 in the year-ago period. Large-cabin deliveries rose to 42 from 32 last year.
General Dynamics ended the year with a total backlog of $90.6 billion, up 9.1% from a year earlier. The book-to-bill ratio was 1-to-1 for the full year.
Looking ahead, the company did not provide specific financial guidance for 2025 in the earnings release.
The slight earnings miss appears to be weighing on the stock in early trading, though the revenue beat and solid aircraft deliveries may be limiting the downside. Investors will likely focus on management’s outlook and commentary during the earnings call for further direction.
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