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

Cal Biesecker By
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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…

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