General Dynamics Corp (GD, Financial) announced its financial results for the fourth quarter and full year of 2024 on January 29, 2025. The company reported a 14.2% increase in quarterly net earnings to $1.1 billion, with a diluted EPS of $4.15, on revenues of $13.3 billion, marking a 14.3% rise from the previous year. For the full year, net earnings reached $3.8 billion, a 14.1% increase from 2023, with revenues totaling $47.7 billion, up 12.9%. The company ended the year with a backlog of $90.6 billion, positioning it for continued growth.
Positive Highlights
- Quarterly net earnings increased by 14.2% to $1.1 billion.
- Full-year net earnings rose by 14.1% to $3.8 billion.
- Revenue for the year increased by 12.9% to $47.7 billion.
- Strong order activity with a 1-to-1 book-to-bill ratio for the year.
- Gulfstream delivered 136 aircraft in 2024, including 118 large-cabin aircraft.
Negative Highlights
- Net cash provided by operating activities decreased from $4.7 billion in 2023 to $4.1 billion in 2024.
- Cash and equivalents decreased from $1.9 billion at the end of 2023 to $1.7 billion at the end of 2024.
Financial Analyst Perspective
General Dynamics Corp (GD, Financial) has demonstrated robust financial performance in 2024, with significant growth in both revenue and net earnings. The company's ability to maintain a strong order book and deliver a high number of aircraft, particularly in the Gulfstream segment, highlights its operational efficiency and market demand. The increase in backlog to $90.6 billion provides a solid foundation for future revenue streams. However, the decrease in net cash from operating activities and cash reserves may warrant attention to ensure liquidity remains strong.
Market Research Analyst Perspective
General Dynamics Corp (GD, Financial) continues to capitalize on its diversified portfolio across aerospace and defense sectors. The company's strong performance in the Gulfstream segment, coupled with significant contract awards in defense, underscores its competitive position in the market. The increase in backlog and potential contract value indicates sustained demand for its products and services. As the company navigates a complex geopolitical landscape, its strategic investments and focus on innovation will be crucial in maintaining its market leadership.
Frequently Asked Questions
Q: What were General Dynamics' net earnings for the fourth quarter of 2024?
A: General Dynamics reported net earnings of $1.1 billion for the fourth quarter of 2024.
Q: How much revenue did General Dynamics generate in 2024?
A: General Dynamics generated $47.7 billion in revenue for the full year 2024.
Q: What is the current backlog for General Dynamics?
A: General Dynamics ended 2024 with a backlog of $90.6 billion.
Q: How many aircraft did Gulfstream deliver in 2024?
A: Gulfstream delivered a total of 136 aircraft in 2024, including 118 large-cabin aircraft.
Q: What is the book-to-bill ratio for General Dynamics in 2024?
A: The book-to-bill ratio for General Dynamics in 2024 was 1-to-1.
Read the original press release here.
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