Falls Church, VA based General Dynamics Corporation (GD Quick QuoteGD - Free Report) is one of the two contractors equipped to build nuclear-powered submarines. The company is well-renowned for the Virginia-class submarines and its Gulfstream aircraft.

However, the company is subject to high risks from budget cuts. As a result, the company is cautious and is proactively involved in lowering costs to fuel bottom line growth.

The company has reported positive earnings surprises in the last four quarters with an average beat of 6.54%.

Zacks Rank

Currently, General Dynamics has a Zacks Rank #3 (Hold), but that could definitely change following General Dynamics’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have mentioned below some of the vital information from this just-revealed announcement:

Earnings Beat

General Dynamics comfortably surpassed earnings estimates. Adjusted earnings per share came in at $2.48 compared to the Zacks Consensus Estimate of $2.37.

Revenue Miss

General Dynamics posted revenues of $7,731 million in third quarter, compared to our consensus estimate of $7,905 million.

Key Developments to Note

Total backlog at the end of the third quarter was $62 billion, down 9.8% year over year.

Stock Price

Following the earnings release, share prices for the company did not show any significant movement in the pre-market trading session.

Check back later for our full write up on this General Dynamics earnings report later!

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