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Business/Financial

GD Posts Strong Fourth Quarter, Says Tax Reform Will Aid Internal Investment

By Cal Biesecker

Wednesday, January 24th, 2018

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GD Posts Strong Fourth Quarter, Says Tax Reform Will Aid Internal Investment

The nuclear-powered attack submarine SSN Virginia, lead ship in the Virginia-class submarine program. GD says it will be spending $1.7 billion in the next few years on capital investments at its Electric Boat shipyard. Navy photo by General Dynamics.

Buoyed by all of its operating segments, General Dynamics [GD] on Wednesday reported strong fourth quarter top and bottom lines to finish 2017 and the company said a new tax bill that went into effect this year will bolster its cash generation.Net income jumped 12 percent to $636 million, $2.10 earnings per share (EPS), from $570 million ($1.85 EPS) a year ago, despite a $119 million (40 cents EPS) one-time non-cash hit to earnings stemming from a tax reform bill…

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