:

Business/Financial

COVID-19 Impacts Hit GD’s First Quarter Results On Delayed Aircraft Deliveries

By Cal Biesecker

Wednesday, April 29th, 2020

SHARE:

COVID-19 Impacts Hit GD’s First Quarter Results On Delayed Aircraft Deliveries

General Dynamics Chairwoman and CEO Phebe Novakovic. Photo: General Dynamics

The ongoing coronavirus pandemic delayed General Dynamics’ [GD] deliveries of business jets in the first quarter, sending sales and net income lower. The company’s defense businesses overall reported slightly higher sales and profit. Net income fell 5 percent to $706 million, $2.43 earnings per share (EPS), from $745 million ($2.56 EPS), lagging consensus estimates by 15 cents per share. Total operating margin was down 10 basis points to 10.8 percent. Sales dipped 6 percent to $8.8 billion from $9.3 billion…

Congress

Trump Urges Senate To Move ‘Immediately’ On $350 Billion Defense Reconciliation Bill In Lame Duck

President Trump on Thursday urged Senate leadership to move “IMMEDIATELY” on a reconciliation bill that would include $350 billion for defense. The call arrives as Republicans navigate a lame duck […]

Congress

House Republicans Block Measure To Impeach Hegseth

House Republicans on Tuesday evening voted to block an attempt to impeach Defense Secretary Pete Hegseth. In a 211-204 vote, the House moved to refer Rep. Thomas Massie’s (R-Ky.) articles […]

Congress

Top House Defense Appropriator Calvert Officially Wins Reelection Bid

Rep. Ken Calvert (R-Calif.), House Republicans’ top defense appropriator, has officially won his reelection bid. Calvert was running for a redistricted seat against fellow House Republican Rep. Young Kim (R-Calif.), […]

Congress

No Path To Defense Reconciliation, Including GOP’s $350 Billion, Coons Says

Top Senate Democrats threw cold water on any GOP plans for a $350 billion fiscal 2027 reconciliation bill, or any defense reconciliation bill, before a new Congress is sworn in […]