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 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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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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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 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!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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