General Dynamics (GD) Tops Q2 Earnings & Revenue Estimates
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 4.12%.
Zacks Rank
Currently, General Dynamics has a Zacks Rank #4 (Sell), but that could change following General Dynamics’ second-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:
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 second quarter. Its adjusted earnings per share came in at $2.82, surpassing the Zacks Consensus Estimate of $2.49 by 13.3%.
Revenue Beat
General Dynamics posted revenues of $9,186 million in second quarter, surpassing the Zacks Consensus Estimate of $9,108 million by 0.9%. Moreover, total revenues were up 19.7% year over year.
Key Developments
Total backlog at the end of the second quarter was $66.3 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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
General Dynamics Corporation (GD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
