General Dynamics: 4Q Earnings Snapshot

RESTON, Va. (AP) _ General Dynamics Corp. (GD) on Wednesday reported fourth-quarter net income of $1 billion.

The Reston, Virginia-based company said it had net income of $3.49 per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.55 per share.

The defense contractor posted revenue of $10.48 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $10.85 billion.

For the year, the company reported profit of $3.17 billion, or $11 per share. Revenue was reported as $37.92 billion.

General Dynamics shares have increased 1% since the beginning of the year, while the Standard & Poor’s 500 index has increased 2.5%. The stock has dropped 18% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GD at https://www.zacks.com/ap/GD

Copyright © 2021 . All rights reserved. This website is not intended for users located within the European Economic Area.

Comments

Sign up for breaking news alerts