General Dynamics Reports Fourth-Quarter and Full-Year 2024 Financial Results

Rhea-AI Summary

General Dynamics (GD) reported strong financial results for Q4 and full-year 2024. Fourth-quarter net earnings reached $1.1 billion (up 14.2% YoY) with revenue of $13.3 billion (up 14.3% YoY), resulting in diluted EPS of $4.15. Full-year performance showed net earnings of $3.8 billion (up 14.1%) on revenue of $47.7 billion (up 12.9%), with diluted EPS of $13.63.

The company demonstrated strong operational performance with Q4 operating cash flow of $2.2 billion (188% of net earnings). Gulfstream delivered 47 aircraft in Q4, including 42 large-cabin aircraft, totaling 136 deliveries for the year. The company maintained robust order activity with a 1-to-1 book-to-bill ratio for the year, ending 2024 with a substantial backlog of $90.6 billion and total estimated contract value of $144 billion (up 9.1% YoY).

Positive

• Q4 net earnings increased 14.2% YoY to $1.1 billion
• Full-year revenue grew 12.9% to $47.7 billion
• Strong Q4 operating cash flow at $2.2 billion (188% of net earnings)
• Robust backlog of $90.6 billion with total contract value of $144 billion
• Secured multiple major defense contracts worth billions
• Maintained 1-to-1 book-to-bill ratio for the year

Negative

• Q4 book-to-bill ratio declined to 0.9-to-1

Insights

Financial Analyst

General Dynamics' Q4 and full-year 2024 results demonstrate exceptional operational execution and strategic positioning in both defense and aerospace markets. The 14.2% year-over-year growth in quarterly earnings to $1.1 billion and 14.3% revenue growth to $13.3 billion significantly outpace industry averages, indicating market share gains and improved operational efficiency.

The company's cash generation prowess is particularly noteworthy, with Q4 operating cash flow at $2.2 billion representing an impressive 188% of net earnings. This exceptional cash conversion ratio enables robust capital deployment, evidenced by the $3 billion returned to shareholders through dividends and buybacks while maintaining strategic investments in capital expenditures ($916 million).

The defense segment's contract wins are strategically significant:

• The $5.6 billion Air Force MPE contract positions GD at the forefront of military IT modernization
• The $2.2 billion MUOS contract strengthens their space communications footprint
• Multiple Navy contracts totaling $1.9 billion reinforce their submarine manufacturing dominance

In aerospace, the delivery of 47 aircraft (42 large-cabin) in Q4 and 136 for the full year (118 large-cabin) reflects strong execution despite supply chain challenges. The 1-to-1 book-to-bill ratio in aerospace, combined with a $19.7 billion backlog, suggests sustained demand and pricing power in the business jet market.

The total backlog of $90.6 billion and estimated contract value of $144 billion provide exceptional revenue visibility, representing approximately 2 years of revenue at current run rates. This positions General Dynamics for continued growth and margin expansion through operational leverage and program maturity.

• Fourth-quarter net earnings of $1.1 billion, diluted EPS of $4.15, on $13.3 billion in revenue
• Full-year net earnings of $3.8 billion, diluted EPS of $13.63, on $47.7 billion in revenue
• $2.2 billion net cash provided by operating activities in the quarter, 188% of net earnings
• Ended the year with $90.6 billion in backlog

RESTON, Va., Jan. 29, 2025 /PRNewswire/ -- General Dynamics (NYSE: GD) today reported quarterly net earnings of $1.1 billion, up 14.2% from the year-ago quarter, on revenue of $13.3 billion, up 14.3% over the year-ago quarter. Diluted earnings per share (EPS) was $4.15, up 14% from the year-ago quarter.

For the full year, net earnings were $3.8 billion, up 14.1% from 2023, on revenue of $47.7 billion, up 12.9% from 2023. Diluted EPS for the full year was $13.63, up 13.4% from 2023.

"We had a solid fourth quarter, capping off a year that saw steady growth in revenue and earnings across all four segments," said Phebe N. Novakovic, chairman and chief executive officer. "Order activity continued to be very strong, with 1-to-1 book-to-bill for the year, even as revenue grew by 13%, positioning us well for continued growth."

Gulfstream delivered 47 aircraft in the quarter, of which 42 were large-cabin aircraft. The company delivered a total of 136 aircraft during the year, of which 118 were large-cabin aircraft. 

Cash
Net cash provided by operating activities in the quarter totaled $2.2 billion, or 188% of net earnings. For the year, net cash provided by operating activities totaled $4.1 billion, or 109% of net earnings. 

During the year, the company invested $916 million in capital expenditures, made tax payments of $560 million, repaid fixed-rate notes of $500 million, and returned $3 billion to shareholders through dividends and share repurchases, ending 2024 with $1.7 billion in cash and equivalents on hand.

Backlog
Orders remained strong across the company with a consolidated book-to-bill ratio, defined as orders divided by revenue, of 0.9-to-1 for the quarter and 1-to-1 for the year. The company ended the year with backlog of $90.6 billion and estimated potential contract value, representing management's estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, of $53.4 billion. Total estimated contract value, the sum of all backlog components, was $144 billion at year end, up 9.1% from a year earlier.

In the Aerospace segment, orders in the quarter totaled $3.8 billion. Backlog at the end of the year was $19.7 billion. Aerospace book-to-bill was 1-to-1 for the quarter and the year.

In the three defense segments, significant awards in the quarter include a U.S. Air Force contract with maximum potential value of $5.6 billion to modernize, integrate and operate the Department of Defense's Mission Partner Environments (MPEs); a U.S. Space Force contract with maximum potential value of $2.2 billion to provide sustainment services for the Mobile User Objective System (MUOS) satellite communications system; $1.9 billion from the U.S. Navy for multiple contracts to provide services, materials and parts for Virginia-class submarines; $370 million from the U.S. Army for the production of 155mm artillery projectile metal parts; contracts for various munitions and ordnance with maximum potential value of $820 million; and several key contracts for classified customers with maximum potential value of $1.4 billion.

About General Dynamics
Headquartered in Reston, Virginia, General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 110,000 people worldwide and generated $47.7 billion in revenue in 2024. More information is available at www.gd.com.

WEBCAST INFORMATION: General Dynamics will webcast its fourth-quarter and full-year 2024 financial results conference call today at 9 a.m. EST. The webcast will be a listen-only audio event available at GD.com. An on-demand replay of the webcast will be available by telephone two hours after the end of the call through February 5 at 800-770-2030 (international +1 647-362-9199), conference ID 4299949. Charts furnished to investors and securities analysts in connection with the announcement of financial results are available at GD.com. General Dynamics intends to supplement those charts on its website after its earnings call today to include information about 2025 guidance presented during the call.

This press release contains forward-looking statements (FLS), including statements about the company's future operational and financial performance, which are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "forecasts," "scheduled," "outlook," "estimates," "should" and variations of these words and similar expressions are intended to identify FLS. In making FLS, we rely on assumptions and analyses based on our experience and perception of historical trends; current conditions and expected future developments; and other factors, estimates and judgments we consider reasonable and appropriate based on information available to us at the time. FLS are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. FLS are not guarantees of future performance and involve factors, risks and uncertainties that are difficult to predict. Actual future results and trends may differ materially from what is forecast in the FLS. All FLS speak only as of the date they were made. We do not undertake any obligation to update or publicly release revisions to FLS to reflect events, circumstances or changes in expectations after the date of this press release. Additional information regarding these factors is contained in the company's filings with the SEC, and these factors may be revised or supplemented in future SEC filings. In addition, this press release contains some financial measures not prepared in accordance with U.S. generally accepted accounting principles (GAAP). While we believe these non-GAAP metrics provide useful information for investors, there are limitations associated with their use, and our calculations of these metrics may not be comparable to similarly titled measures of other companies. Non-GAAP metrics should not be considered in isolation from, or as a substitute for, GAAP measures. Reconciliations to comparable GAAP measures and other information relating to our non-GAAP measures are included in other filings with the SEC, which are available at investorrelations.gd.com.

 

EXHIBIT A   CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED) DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
				Three Months Ended December 31				Variance
				2024		2023		$			%
Revenue				$                    13,338		$                    11,668		$         1,670				14.3 %
Operating costs and expenses				(11,915)		(10,380)		(1,535)
Operating earnings				1,423		1,288		135				10.5 %
Other, net				21		17		4
Interest, net				(76)		(78)		2
Earnings before income tax				1,368		1,227		141				11.5 %
Provision for income tax, net				(220)		(222)		2
Net earnings				$                      1,148		$                      1,005		$            143				14.2 %
Earnings per share—basic				$                        4.20		$                        3.68		$           0.52				14.1 %
Basic weighted average shares outstanding				273.4		272.8
Earnings per share—diluted				$                        4.15		$                        3.64		$           0.51				14.0 %
Diluted weighted average shares outstanding				276.9		275.9

 

EXHIBIT B   CONSOLIDATED STATEMENT OF EARNINGS - (UNAUDITED) DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
				Year Ended December 31				Variance
				2024		2023		$			%
Revenue				$                   47,716		$                   42,272		$         5,444				12.9 %
Operating costs and expenses				(42,920)		(38,027)		(4,893)
Operating earnings				4,796		4,245		551				13.0 %
Other, net				68		82		(14)
Interest, net				(324)		(343)		19
Earnings before income tax				4,540		3,984		556				14.0 %
Provision for income tax, net				(758)		(669)		(89)
Net earnings				$                     3,782		$                     3,315		$            467				14.1 %
Earnings per share—basic				$                     13.81		$                     12.14		$           1.67				13.8 %
Basic weighted average shares outstanding				273.9		273.1
Earnings per share—diluted				$                     13.63		$                     12.02		$           1.61				13.4 %
Diluted weighted average shares outstanding				277.5		275.7

 

EXHIBIT C   REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED) DOLLARS IN MILLIONS
							Three Months Ended December 31				Variance
							2024		2023		$			%
Revenue:
Aerospace							$                  3,743		$                   2,744		$          999			36.4 %
Marine Systems							3,960		3,408		552			16.2 %
Combat Systems							2,395		2,364		31			1.3 %
Technologies							3,240		3,152		88			2.8 %
Total							$                13,338		$                 11,668		$       1,670			14.3 %
Operating earnings:
Aerospace							$                     585		$                      449		$          136			30.3 %
Marine Systems							200		217		(17)			(7.8) %
Combat Systems							356		351		5			1.4 %
Technologies							319		305		14			4.6 %
Corporate							(37)		(34)		(3)			(8.8) %
Total							$                  1,423		$                   1,288		$          135			10.5 %
Operating margin:
Aerospace							15.6 %		16.4 %
Marine Systems							5.1 %		6.4 %
Combat Systems							14.9 %		14.8 %
Technologies							9.8 %		9.7 %
Total							10.7 %		11.0 %

 

EXHIBIT D   REVENUE AND OPERATING EARNINGS BY SEGMENT - (UNAUDITED) DOLLARS IN MILLIONS
								Year Ended December 31				Variance
								2024		2023		$			%
Revenue:
Aerospace								$                11,249		$                   8,621		$       2,628			30.5 %
Marine Systems								14,343		12,461		1,882			15.1 %
Combat Systems								8,997		8,268		729			8.8 %
Technologies								13,127		12,922		205			1.6 %
Total								$                47,716		$                 42,272		$       5,444			12.9 %
Operating earnings:
Aerospace								$                  1,464		$                   1,182		$          282			23.9 %
Marine Systems								935		874		61			7.0 %
Combat Systems								1,276		1,147		129			11.2 %
Technologies								1,260		1,202		58			4.8 %
Corporate								(139)		(160)		21			13.1 %
Total								$                  4,796		$                   4,245		$          551			13.0 %
Operating margin:
Aerospace								13.0 %		13.7 %
Marine Systems								6.5 %		7.0 %
Combat Systems								14.2 %		13.9 %
Technologies								9.6 %		9.3 %
Total								10.1 %		10.0 %

 

EXHIBIT E   CONSOLIDATED BALANCE SHEET DOLLARS IN MILLIONS
											(Unaudited)
											December 31, 2024		December 31, 2023
ASSETS
Current assets:
Cash and equivalents											$                        1,697		$                        1,913
Accounts receivable											2,977		3,004
Unbilled receivables											8,248		7,997
Inventories											9,724		8,578
Other current assets											1,740		2,123
Total current assets											24,386		23,615
Noncurrent assets:
Property, plant and equipment, net											6,467		6,198
Intangible assets, net											1,520		1,656
Goodwill											20,556		20,586
Other assets											2,951		2,755
Total noncurrent assets											31,494		31,195
Total assets											$                      55,880		$                      54,810
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt											$                        1,502		$                           507
Accounts payable											3,344		3,095
Customer advances and deposits											9,491		9,564
Other current liabilities											3,487		3,266
Total current liabilities											17,824		16,432
Noncurrent liabilities:
Long-term debt											7,260		8,754
Other liabilities											8,733		8,325
Total noncurrent liabilities											15,993		17,079
Shareholders' equity:
Common stock											482		482
Surplus											4,062		3,760
Retained earnings											41,487		39,270
Treasury stock											(22,450)		(21,054)
Accumulated other comprehensive loss											(1,518)		(1,159)
Total shareholders' equity											22,063		21,299
Total liabilities and shareholders' equity											$                      55,880		$                      54,810

 

EXHIBIT F   CONSOLIDATED STATEMENT OF CASH FLOWS - (UNAUDITED) DOLLARS IN MILLIONS
		Year Ended December 31
		2024		2023
Cash flows from operating activities—continuing operations:
Net earnings		$                      3,782		$                      3,315
Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation of property, plant and equipment		644		608
Amortization of intangible and finance lease right-of-use assets		242		255
Equity-based compensation expense		183		181
Deferred income tax benefit		(86)		(177)
(Increase) decrease in assets, net of effects of business acquisitions:
Accounts receivable		16		38
Unbilled receivables		(261)		913
Inventories		(1,195)		(2,219)
Increase (decrease) in liabilities, net of effects of business acquisitions:
Accounts payable		247		(303)
Customer advances and deposits		343		2,415
Income taxes payable		266		(209)
Other, net		(69)		(107)
Net cash provided by operating activities		4,112		4,710
Cash flows from investing activities:
Capital expenditures		(916)		(904)
Other, net		(37)		(37)
Net cash used by investing activities		(953)		(941)
Cash flows from financing activities:
Dividends paid		(1,529)		(1,428)
Purchases of common stock		(1,501)		(434)
Repayment of fixed-rate notes		(500)		(1,250)
Other, net		161		18
Net cash used by financing activities		(3,369)		(3,094)
Net cash used by discontinued operations		(6)		(4)
Net (decrease) increase in cash and equivalents		(216)		671
Cash and equivalents at beginning of year		1,913		1,242
Cash and equivalents at end of year		$                      1,697		$                      1,913

 

EXHIBIT G   ADDITIONAL FINANCIAL INFORMATION - (UNAUDITED) DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
Other Financial Information:
		December 31, 2024		December 31, 2023
Debt-to-equity (a)		39.7 %		43.5 %
Book value per share (b)		$                 81.61		$                 77.85
Shares outstanding		270,340,502		273,599,948
		Fourth Quarter				Twelve Months
		2024		2023		2024		2023
Income tax payments, net		$                    435		$                    607		$                   560		$                1,100
Company-sponsored research and development (c)		$                    144		$                    115		$                   565		$                   510
Return on sales (d)		8.6 %		8.6 %		7.9 %		7.8 %
Return on equity (e)						17.2 %		16.8 %
Non-GAAP Financial Measures:
		Fourth Quarter				Twelve Months
		2024		2023		2024		2023
Free cash flow:
Net cash provided by operating activities		$                 2,160		$                 1,196		$                4,112		$                4,710
Capital expenditures		(355)		(304)		(916)		(904)
Free cash flow (f)		$                 1,805		$                    892		$                3,196		$                3,806
Return on invested capital:
Net earnings						$                3,782		$                3,315
After-tax interest expense						310		315
After-tax amortization expense						191		201
Net operating profit after taxes						4,283		3,831
Average invested capital						32,451		31,258
Return on invested capital (g)						13.2 %		12.3 %
		December 31, 2024		December 31, 2023
Net debt:
Total debt		$                 8,762		$                 9,261
Less cash and equivalents		1,697		1,913
Net debt (h)		$                 7,065		$                 7,348
Notes describing the calculation of the other financial information and a reconciliation of non-GAAP financial measures are on the following page.

 

EXHIBIT G (Cont.)   ADDITIONAL FINANCIAL INFORMATION - (UNAUDITED) DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
(a)	Debt-to-equity ratio is calculated as total debt divided by total equity as of year end.
(b)	Book value per share is calculated as total equity divided by total outstanding shares as of year end.
(c)	Includes independent research and development and Aerospace product-development costs.
(d)	Return on sales is calculated as net earnings divided by revenue.
(e)	Return on equity is calculated by dividing net earnings by our average total equity during the year. Average total equity is calculated using the total equity balance at the end of the preceding year and the total equity balances at the end of each of the four quarters of the year presented.
(f)	We define free cash flow as net cash from operating activities less capital expenditures. We believe free cash flow is a useful measure for investors because it portrays our ability to generate cash from our businesses for purposes such as repaying debt, funding business acquisitions, repurchasing our common stock and paying dividends. We use free cash flow to assess the quality of our earnings and as a key performance measure in evaluating management.
(g)	We believe return on invested capital (ROIC) is a useful measure for investors because it reflects our ability to generate returns from the capital we have deployed in our operations. We use ROIC to evaluate investment decisions and as a performance measure in evaluating management. We define ROIC as net operating profit after taxes divided by average invested capital. Net operating profit after taxes is defined as net earnings plus after-tax interest and amortization expense, calculated using the statutory federal income tax rate. Average invested capital is defined as the sum of the average debt and average shareholders' equity excluding accumulated other comprehensive loss. Average debt and average shareholders' equity excluding accumulated other comprehensive loss are calculated using the respective balances at the end of the preceding year and the respective balances at the end of each of the four quarters of the year presented. ROIC excludes goodwill impairments and non-economic accounting changes as they are not reflective of company performance.
(h)	We define net debt as short- and long-term debt (total debt) less cash and equivalents. We believe net debt is a useful measure for investors because it reflects the borrowings that support our operations and capital deployment strategy. We use net debt as an important indicator of liquidity and financial position.

 

EXHIBIT H   BACKLOG - (UNAUDITED) DOLLARS IN MILLIONS
					Funded		Unfunded		Total Backlog		Estimated Potential Contract Value*		Total Estimated Contract Value
Fourth Quarter 2024:
Aerospace					$            18,895		$                 798		$            19,693		$                  1,132		$                20,825
Marine Systems					30,530		9,288		39,818		9,560		49,378
Combat Systems					16,142		838		16,980		8,647		25,627
Technologies					9,577		4,529		14,106		34,029		48,135
Total					$            75,144		$            15,453		$            90,597		$                53,368		$              143,965
Third Quarter 2024:
Aerospace					$            18,859		$                 937		$            19,796		$                     254		$                20,050
Marine Systems					29,008		11,463		40,471		9,578		50,049
Combat Systems					17,289		682		17,971		8,016		25,987
Technologies					9,794		4,602		14,396		27,093		41,489
Total					$            74,950		$            17,684		$            92,634		$                44,941		$              137,575
Fourth Quarter 2023:
Aerospace					$            19,557		$                 897		$            20,454		$                     451		$                20,905
Marine Systems					30,141		15,755		45,896		3,647		49,543
Combat Systems					13,816		721		14,537		6,236		20,773
Technologies					8,961		3,779		12,740		28,011		40,751
Total					$            72,475		$            21,152		$            93,627		$                38,345		$              131,972
*     The estimated potential contract value includes work awarded on unfunded indefinite delivery, indefinite quantity (IDIQ) contracts       and unexercised options associated with existing firm contracts, including options and other agreements with existing customers       to purchase new aircraft and aircraft services. We recognize options in backlog when the customer exercises the option and       establishes a firm order. For IDIQ contracts, we evaluate the amount of funding we expect to receive and include this amount in our       estimated potential contract value. The actual amount of funding received in the future may be higher or lower than our estimate of       potential contract value.

 

EXHIBIT H-1 BACKLOG - (UNAUDITED) DOLLARS IN MILLIONS

https://mma.prnewswire.com/media/2607828/EXHIBIT_H_1.jpg

 

EXHIBIT H-2    BACKLOG BY SEGMENT - (UNAUDITED) DOLLARS IN MILLIONS

https://mma.prnewswire.com/media/2607827/EXHIBIT_H_2.jpg

EXHIBIT I FOURTH QUARTER 2024 SIGNIFICANT ORDERS - (UNAUDITED) DOLLARS IN MILLIONS

We received the following significant contract awards during the fourth quarter of 2024:

Marine Systems:

• $880 from the U.S. Navy for long-lead materials for Block V Virginia-class submarines.
• $375 from the Navy for lead yard services, development studies and design efforts for Virginia-class submarines.
• $350 from the Navy for long-lead materials for Block VI Virginia-class submarines.
• $245 from the Navy for procurement and delivery of initial Virginia-class spare parts to support maintenance availabilities.
• $230 from the Navy to provide engineering, technical, design and planning yard support services for operational strategic and attack submarines.
• $80 from the Navy for maintenance and modernization work on the USS Hartford, a Los Angeles-class submarine.

Combat Systems:

• $505 for various munitions and ordnance. These contracts have a maximum potential value of $820.
• $370 from the U.S. Army for the production of 155mm artillery projectile metal parts.
• $65 to provide configuration changes for Canadian light armored vehicles (LAV).
• $50 to produce launch pod containers for the Guided Multiple Launch Rocket System (GMLRS) for the Army.

Technologies:

• $50 from the U.S. Air Force to modernize, integrate and operate the Department of Defense's Mission Partner Environments (MPEs), enabling the military and its partners to securely communicate and share real-time information at multiple levels of classification. The contract has a maximum potential value of $5.6 billion.
• A contract from the U.S. Space Force to provide sustainment services for the Mobile User Objective System (MUOS) satellite communications system. The contract has a maximum potential value of $2.2 billion.
• $305 for several key contracts for classified customers. These contracts including options have a maximum potential value of $1.4 billion.
• $140 from the Navy to manufacture and test various components for MK54 torpedoes and for general engineering services. The contract including options has a maximum potential value of $810.
• $280 for two awards from the New York State Department of Health to operate and modernize the state's health insurance exchange and to support and enhance the state's Medicaid Management Information System. These contracts including options have a maximum potential value of $480.
• $115 from the Department of Veteran Affairs (VA) under the Veterans Intake, Conversion and Communications Services (VICCS) program to digitally convert historical veteran records and automate data extraction of existing records. The contract including options has a maximum potential value of $345.
• A contract from the VA to provide information technology (IT) support services to more than 600,000 VA personnel at all VA locations nationwide. The contract including options has a maximum potential value of $230.
• $155 from the National Geospatial-Intelligence Agency (NGA) to provide hybrid cloud services and IT design, engineering, and operations and sustainment services.
  
  

EXHIBIT J   AEROSPACE SUPPLEMENTAL DATA - (UNAUDITED) DOLLARS IN MILLIONS
		Fourth Quarter				Twelve Months
		2024		2023		2024		2023
Gulfstream Aircraft Deliveries (units):
Large-cabin aircraft		42		32		118		89
Mid-cabin aircraft		5		7		18		22
Total		47		39		136		111
Aerospace Book-to-Bill:
Orders*		$              3,814		$              3,164		$            11,278		$            10,283
Revenue		3,743		2,744		11,249		8,621
Book-to-Bill Ratio		1.0x		1.2x		1.0x		1.2x
*     Does not include customer defaults, liquidated damages, cancellations, foreign exchange fluctuations and other backlog       adjustments.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/general-dynamics-reports-fourth-quarter-and-full-year-2024-financial-results-302362652.html

SOURCE General Dynamics

FAQ

What were General Dynamics (GD) Q4 2024 earnings per share?

General Dynamics reported Q4 2024 diluted earnings per share (EPS) of $4.15, representing a 14% increase from the year-ago quarter.

How many aircraft did GD's Gulfstream deliver in 2024?

Gulfstream delivered a total of 136 aircraft in 2024, of which 118 were large-cabin aircraft.

What was General Dynamics' backlog value at the end of 2024?

General Dynamics ended 2024 with a backlog of $90.6 billion and total estimated contract value of $144 billion.

How much cash did GD return to shareholders in 2024?

General Dynamics returned $3 billion to shareholders through dividends and share repurchases in 2024.

What was GD's largest defense contract award in Q4 2024?

The largest defense contract was a U.S. Air Force contract with maximum potential value of $5.6 billion for modernizing and operating the Department of Defense's Mission Partner Environments.