General Dynamics Corporation (GD - Free Report) reported fourth quarter and 2018 results. Fourth-quarter earnings from continuing operations of $3.07 per share beat the Zacks Consensus Estimate of $2.98 by 3%. Reported earnings were up 46.2% from $2.10 in the year-ago quarter.
For 2018, the company reported earnings of $11.22 per share, up 17.4% from $9.56 in the year-ago quarter. Moreover, full-year earnings figure exceeded the Zacks Consensus Estimate of $11.15 by 0.6%.
Total Revenues
General Dynamics’ fourth-quarter revenues of $10,378 million surpassed the Zacks Consensus Estimate of $10,286 million by 0.9%. Further, revenues increased 25.4% from $8,277 million in the year-ago quarter. Revenues grew year over year in three of the company’s five segments.
In 2018, total revenues increased 16.9% year over year to $36.19 billion. Full-year revenues surpassed the Zacks Consensus Estimate of $36.13 billion by a mere 0.2%.
Backlog
The company recorded a total backlog of $67.9 billion, up 7.4% annually. Funded backlog at the quarter end was $55.83 billion.
Segment Performance
Aerospace: The segment reported revenues of $2,704 million, up 36.4% year over year. Operating earnings of $382 million increased 13.7% from the prior-year quarter’s $336 million.
Combat Systems: Segment revenues fell 0.2% to $1,744 million. Operating earnings were up 0.4% to $261 million in the quarter.
Information Systems and Technology: The segment reported revenues of $2,382 million, which surged 93.3% year over year. Operating income also surged 104.2% to $194 million.
Marine Systems: The segment’s revenues of $2,297 million were up 11.5% from the year-ago figure of $2,060 million. Moreover, operating income rose 27.5% to $213 million.
Mission Systems: The segment’s revenues of $1,251 million were down 0.3% from the year-ago quarter’s $1,255 million. Operating income declined 3.2 % from the year-ago quarter’s $187 million to $181 million.
General Dynamics Corporation Price, Consensus and EPS Surprise
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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.
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General Dynamics Corporation (GD - Free Report) reported fourth quarter and 2018 results. Fourth-quarter earnings from continuing operations of $3.07 per share beat the Zacks Consensus Estimate of $2.98 by 3%. Reported earnings were up 46.2% from $2.10 in the year-ago quarter.
For 2018, the company reported earnings of $11.22 per share, up 17.4% from $9.56 in the year-ago quarter. Moreover, full-year earnings figure exceeded the Zacks Consensus Estimate of $11.15 by 0.6%.
Total Revenues
General Dynamics’ fourth-quarter revenues of $10,378 million surpassed the Zacks Consensus Estimate of $10,286 million by 0.9%. Further, revenues increased 25.4% from $8,277 million in the year-ago quarter. Revenues grew year over year in three of the company’s five segments.
In 2018, total revenues increased 16.9% year over year to $36.19 billion. Full-year revenues surpassed the Zacks Consensus Estimate of $36.13 billion by a mere 0.2%.
Backlog
The company recorded a total backlog of $67.9 billion, up 7.4% annually. Funded backlog at the quarter end was $55.83 billion.
Segment Performance
Aerospace: The segment reported revenues of $2,704 million, up 36.4% year over year. Operating earnings of $382 million increased 13.7% from the prior-year quarter’s $336 million.
Combat Systems: Segment revenues fell 0.2% to $1,744 million. Operating earnings were up 0.4% to $261 million in the quarter.
Information Systems and Technology: The segment reported revenues of $2,382 million, which surged 93.3% year over year. Operating income also surged 104.2% to $194 million.
Marine Systems: The segment’s revenues of $2,297 million were up 11.5% from the year-ago figure of $2,060 million. Moreover, operating income rose 27.5% to $213 million.
Mission Systems: The segment’s revenues of $1,251 million were down 0.3% from the year-ago quarter’s $1,255 million. Operating income declined 3.2 % from the year-ago quarter’s $187 million to $181 million.
General Dynamics Corporation Price, Consensus and EPS Surprise
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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