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