General Dynamics (GD) reported $10.15 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 10.5%. EPS of $2.70 for the same period compares to $2.75 a year ago.
The reported revenue represents a surprise of +7.85% over the Zacks Consensus Estimate of $9.41 billion. With the consensus EPS estimate being $2.59, the EPS surprise was +4.25%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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- Aerospace: $1.95 billion compared to the $2.04 billion average estimate based on six analysts. The reported number represents a change of +4.6% year over year.
- Revenue- Technologies: $3.22 billion versus the six-analyst average estimate of $3.10 billion. The reported number represents a year-over-year change of +7%.
- Revenue- Combat Systems: $1.92 billion compared to the $1.70 billion average estimate based on six analysts. The reported number represents a change of +15.5% year over year.
- Revenue- Marine Systems: $3.06 billion versus the six-analyst average estimate of $2.58 billion. The reported number represents a year-over-year change of +15.4%.
- Operating earnings- Aerospace: $236 million compared to the $245.23 million average estimate based on five analysts.
- Operating earnings- Combat Systems: $251 million versus the five-analyst average estimate of $244.67 million.
- Operating earnings- Technologies: $283 million versus the five-analyst average estimate of $288.43 million.
- Operating earnings- Marine Systems: $235 million versus $200.58 million estimated by five analysts on average.
- Operating earnings- Corporate: -$43 million versus the four-analyst average estimate of -$64.24 million.
Shares of General Dynamics have returned +2.8% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>General Dynamics Corporation (GD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
