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General Dynamics (GD) Tops Q3 Earnings, Misses Sales Estimate

Falls Church, VA based General Dynamics CorporationGD 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.

However, the company is subject to high risks from any possible budget cut. As a result, the company is cautious and is proactively involved in lowering costs to fuel bottom line growth.

The company has reported positive earnings surprises in the last four quarters with an average beat of 0.22%.

Zacks Rank

Currently, General Dynamics has a Zacks Rank #3 (Hold), but that could definitely change following General Dynamics' third-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:

Earnings Beat

General Dynamics reported better-than-expected earnings during the third quarter. Its earnings per share came in at $2.52 compared to the Zacks Consensus Estimate of $2.43.

Revenue Miss

General Dynamics posted revenues of $7,580 million in third quarter, compared to our consensus estimate of $7,892 million.

General Dynamics Corporation Price and EPS Surprise

General Dynamics Corporation Price and EPS Surprise | General Dynamics Corporation Quote

Key Developments to Note

Total backlog at the end of the third quarter was $63.9 billion, down a mere 0.2% year over year.

Stock Price

Following the earnings release, General Dynamics' share price has undergone no significant change in the pre-market trading session.

Check back later for our full write up on this General Dynamics earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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