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.
General Dynamics boasts a strong position in the U.S. defense space as well as overseas. The recent budgetary amendments in the United States have been in favor of the company’s business line.
The company has reported positive earnings surprises in the last four quarters with an average beat of 3.44%.
General Dynamics Corporation Price and EPS Surprise
General Dynamics Corporation Price and EPS Surprise | General Dynamics Corporation Quote
Zacks Rank
Currently, General Dynamics has a Zacks Rank #2 (Buy), but that could change following General Dynamics’ fourth-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 fourth quarter. Its earnings per share came in at $2.50 compared to the Zacks Consensus Estimate of $2.37.
Revenue Miss
General Dynamics posted revenues of $8,277 million in fourth quarter, compared to Zacks Consensus Estimate of $8,437 million.
Key Developments to Note
Total backlog at the end of the fourth quarter was $63.2 billion, up 1.6% year over year.
Stock Price
It would be interesting to see how the market reacts to the positive earnings surprise during the trading session today.
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 trillionaires," 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