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General Dynamics (GD) Beats on Q4 Earnings; Revenues Miss
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Falls Church, VA based General Dynamics Corporation (GD - 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 5.55%.
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 $2.62 compared to the Zacks Consensus Estimate of $2.54.
Revenue Miss
General Dynamics posted revenues of $8,233 million in fourth quarter, compared to our consensus estimate of $8,258 million.
Key Developments to Note
Total backlog at the end of the fourth quarter was $59.8 billion, down 17.4% year over year.
General Dynamics Corporation Price and EPS Surprise
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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General Dynamics (GD) Beats on Q4 Earnings; Revenues Miss
Falls Church, VA based General Dynamics Corporation (GD - 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 5.55%.
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 $2.62 compared to the Zacks Consensus Estimate of $2.54.
Revenue Miss
General Dynamics posted revenues of $8,233 million in fourth quarter, compared to our consensus estimate of $8,258 million.
Key Developments to Note
Total backlog at the end of the fourth quarter was $59.8 billion, down 17.4% year over year.
General Dynamics Corporation Price and EPS Surprise
General Dynamics Corporation Price and EPS Surprise | General Dynamics Corporation Quote
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!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>