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 5.81%.
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 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 $2.32.
Revenue Miss
General Dynamics posted revenues of $7,441 million in first quarter, compared to our consensus estimate of $7,595.5 million.
Key Developments to Note
Total backlog at the end of the first quarter was $60.4 billion, down 9.4% year over year.
Stock Price
Following the earnings release, General Dynamics has gained 0.91% in the pre-market trading session. This reflects investors’ optimism on the results, as the company posted better-than-expected performance in terms of earnings.
Check back later for our full write up on this General Dynamics earnings report later!
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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.
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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 5.81%.
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 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 $2.32.
Revenue Miss
General Dynamics posted revenues of $7,441 million in first quarter, compared to our consensus estimate of $7,595.5 million.
Key Developments to Note
Total backlog at the end of the first quarter was $60.4 billion, down 9.4% year over year.
Stock Price
Following the earnings release, General Dynamics has gained 0.91% in the pre-market trading session. This reflects investors’ optimism on the results, as the company posted better-than-expected performance in terms of earnings.
Check back later for our full write up on this General Dynamics earnings report later!
Zacks’ Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>
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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