By Denny Jacob
General Dynamics posted higher-than-expected fourth-quarter revenue as demand remained strong, which the company expects to continue.
The aerospace and defense company said its profit rose to $1.15 billion, or $4.15 a share, for the three months ended Dec. 31, from $1.01 billion, or $3.64 a share, a year earlier. Analysts polled by FactSet expected $4.07 a share.
Revenue rose to $13.34 billion from $11.67 billion. Analysts polled by FactSet expected $12.81 billion.
The Reston, Va., company said its total estimated contract value, which is the sum of all backlog components, was $144 billion at year end, a roughly 9% increase from a year earlier.
"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," said Chief Executive Phebe Novakovic.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 29, 2025 07:46 ET (12:46 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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