Aerospace Group:

Business/Financial

GD’s Earnings, Sales Dip In Fourth Quarter But Better Days Ahead

By Cal Biesecker

Wednesday, January 27th, 2021

SHARE:

GD’s Earnings, Sales Dip In Fourth Quarter But Better Days Ahead

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

General Dynamics [GD] on Wednesday reported slightly lower net income and sales in its fourth quarter compared with the same period in 2019—when COVID-19 had barely been identified—due mainly to continued softness in its business jet segment. Still, the company’s financial results showed steady improvement sequentially, that is versus the third quarter of 2020, when the coronavirus had already mushroomed into a full-fledged pandemic. Net income in the fourth quarter dipped nearly 2 percent to $1 billion, $3.49 earnings per…

Congress

Pentagon Fiscal 2027 Budget To Address Cannibalization Of Parts For F-35, Legislator Says

The Pentagon’s upcoming fiscal 2027 budget request will help reduce the cannibalization of parts for the F-35 fighter by Lockheed Martin [LMT], the chairman of the House Armed Services Committee’s […]

Budget

Trump’s $1.15 Trillion Request For DoD Is The ‘New Normal,” HASC Chairman Says

COLORADO SPRINGS, Colo.—The Trump administration’s nearly $1.2 trillion baseline defense budget request for fiscal year 2027 will be adopted and will be the foundation for the “new normal” going forward, […]

Congress

Trump Wants Second Reconciliation Bill On His Desk By June 1

President Donald Trump on Wednesday called on Congress to pass and send a second reconciliation bill to his desk by June 1. The deadline follows congressional Republicans’ backing a pursuit […]

Space

Upgrading Current GPS Ground System “Now a Viable Option,” As GPS OCX Problems Continue, Space Official Says

Upgrades to the GPS ground system–the Architecture Evolution Plan (AEP)–is an option under consideration by the Defense Department’s space acquisition chief, as problems continue in fielding the GPS Next Generation […]