General Dynamics (GD) Q1 Earnings Beat, Revenues Up Y/Y
Falls Church, VA based General Dynamics Corporation GD 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.
General Dynamics boasts a strong position in the U.S. defense space as well as overseas. The recent budgetary amendments in the United States have been in favor of the company’s business line.
Surprise History
Coming to the earnings surprise, General Dynamics has surpassed the Zacks Consensus Estimate in last four quarters, resulting in average positive surprise of 4.02%.
Zacks Rank
Currently, General Dynamics has a Zacks Rank #3 (Hold), but that could change following General Dynamics’ first-quarter earnings report which was just released. You can see 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:
General Dynamics Corporation Price and EPS Surprise
General Dynamics Corporation Price and EPS Surprise | General Dynamics Corporation Quote
Earnings Beat
General Dynamics reported better-than-expected earnings during the first quarter. Its earnings per share came in at $2.65 surpassing the Zacks Consensus Estimate of $2.47 by 7.3%.
Revenue Miss
General Dynamics posted revenues of $7,535 million in first quarter, compared with Zacks Consensus Estimate of $7,543 million. However, total revenues were up 1.3% year over year.
Key Developments
Total backlog at the end of the first quarter was $62.1 billion.
Stock Price
It would be interesting to see how the market reacts to the positive earnings surprise during the trading session today.
Check back later for our full write up on this General Dynamics earnings report later!
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