💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

General Dynamics (GD): In-Line Q2 Earnings, Misses Sales

Published 07/25/2017, 09:00 PM
Updated 07/09/2023, 06:31 AM
GD
-

Falls Church, VA based General Dynamics Corporation (NYSE: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.

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 5.20%.

Zacks Rank

Currently, General Dynamics has a Zacks Rank #3 (Hold), but that could definitely change following General Dynamics’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have mentioned below some of the vital information from this just-revealed announcement:

Earnings In-Line

General Dynamics reported in line earnings during the second quarter. Adjusted earnings per share came in at $2.45 compared to the Zacks Consensus Estimate of $2.45.

Revenue Miss

General Dynamics posted revenues of $7,675 million in second quarter, compared to our consensus estimate of $7,804 million.

Key Developments to Note

Total backlog at the end of the second quarter was $58.6 billion, down 10% 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!

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaries,"" but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>



General Dynamics Corporation (GD): Free Stock Analysis Report

Original post

Zacks Investment Research

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.