General Dynamics (GD) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
General Dynamics (GD) reported $11.98 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 18%. EPS of $3.26 for the same period compares to $2.70 a year ago.
The reported revenue represents a surprise of +3.89% over the Zacks Consensus Estimate of $11.53 billion. With the consensus EPS estimate being $3.30, the EPS surprise was -1.21%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how General Dynamics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Technologies: $3.30 billion versus the six-analyst average estimate of $3.27 billion. The reported number represents a year-over-year change of +2.5%.
- Revenue- Marine Systems: $3.45 billion versus $3.18 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +12.9% change.
- Revenue- Combat Systems: $2.29 billion versus $2.02 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +18.9% change.
- Revenue- Aerospace: $2.94 billion versus the six-analyst average estimate of $3.01 billion. The reported number represents a year-over-year change of +50.5%.
- Operating earnings- Aerospace: $319 million versus $384.49 million estimated by five analysts on average.
- Operating earnings- Combat Systems: $313 million versus $286.68 million estimated by five analysts on average.
- Operating earnings- Technologies: $320 million versus $307.53 million estimated by five analysts on average.
- Operating earnings- Marine Systems: $245 million versus $238.21 million estimated by five analysts on average.
- Operating earnings- Corporate: -$41 million versus -$31.56 million estimated by four analysts on average.
Shares of General Dynamics have returned -0.3% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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