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General Dynamics (GD) Tops Q3 Earnings, Misses Sales Estimate
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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 any possible budget cut. 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 0.22%.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings Beat
General Dynamics reported better-than-expected earnings during the third quarter. Its earnings per share came in at $2.52 compared to the Zacks Consensus Estimate of $2.43.
Revenue Miss
General Dynamics posted revenues of $7,580 million in third quarter, compared to our consensus estimate of $7,892 million.
General Dynamics Corporation Price and EPS Surprise
Total backlog at the end of the third quarter was $63.9 billion, down a mere 0.2% year over year.
Stock Price
Following the earnings release, General Dynamics’ share price has undergone no significant change 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) Tops Q3 Earnings, Misses Sales Estimate
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 any possible budget cut. 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 0.22%.
Zacks Rank
Currently, General Dynamics has a Zacks Rank #3 (Hold), but that could definitely change following General Dynamics’ third-quarter earnings report which was just released.You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings Beat
General Dynamics reported better-than-expected earnings during the third quarter. Its earnings per share came in at $2.52 compared to the Zacks Consensus Estimate of $2.43.
Revenue Miss
General Dynamics posted revenues of $7,580 million in third quarter, compared to our consensus estimate of $7,892 million.
General Dynamics Corporation Price and EPS Surprise
General Dynamics Corporation Price and EPS Surprise | General Dynamics Corporation Quote
Key Developments to Note
Total backlog at the end of the third quarter was $63.9 billion, down a mere 0.2% year over year.
Stock Price
Following the earnings release, General Dynamics’ share price has undergone no significant change in the pre-market trading session.
Check back later for our full write up on this General Dynamics earnings report later!
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>