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General Dynamics (GD) Beats on Q1 Earnings & Revenues

Falls Church, VA based General Dynamics Corporation 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 budget cuts. As a result, the company is cautious and is proactively involved in lowering costs to fuel bottom line growth.
 
The company does have an impressive history in earnings season. The company has reported positive earnings surprises in the last four quarters with an average beat of 8.21%.
 
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. We have mentioned below some of the vital information from this just-revealed announcement:

Earnings Beat

Our consensus called for first quarter EPS of $2.14, and the company reported EPS of $2.34.
 
Revenue Beat

General Dynamics posted revenues of $7,724 million in first quarter, compared to our consensus estimate of $7,693 million.
 
Key Developments to Note

Total backlog at the end of the first quarter was $64.7 billion, down 8.2% year over year.
 
Check back later for our full write up on this General Dynamics earnings report later!

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GENL DYNAMICS (GD): Free Stock Analysis Report
 
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