Founding member Jeremiah Green did not perform on this album due to his temporary absence from the band, and it would be the only release during his time with Modest Mouse that he would not appear on.

At Metacritic, which assigns a normalized rating out of 100 to reviews from mainstream critics, the album received an average score of 83, indicating "universal acclaim".

[6] Tiny Mix Tapes gave the album all five stars and said that "Ultimately, what makes Good News so successful is that it retains the melancholy mood of past works, while at the same time adding depth and maturity.

"[6] Dusted gave it a favorable review and called it "a more varied album than The Moon and Antarctica (which did seem to have only one speed), and with the return of original member Dan Gallucci, Brock appears to have revived the heavy lead guitar playing of their early work.

Club also gave it a favorable review and stated, "The songs still rely on Brock's echoing guitar patterns and Mobius-strip lyrics, delivered in the voice of a harried, hip-hop-inflected square-dance caller, but though the vehicle stays the same, the scenery outside the window changes considerably.

"[24] Almost Cool gave it a score of 6.75 out of ten and said that "Probably the biggest complaint could be that the group has tightened up their sound even more on this release, leaving behind even more of the roughshod qualities that made their earlier discs blister with such energy.

"[26] Blender also gave it three stars out of five and said that "[Brock is] adept at wringing out emotion while straddling sentimentality, but too often here, gauche studio affectations make his sap sound plain cheap.

"[6] Nude as the News gave it a score of six out of ten and stated, "A lot of major label-imposed ideas, like rhythm guitar and a heartbreakingly conventional new bass sound, combine to utterly ruin the record's first half.