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General Dynamics (GD) Reports Q1 Earnings: What Key Metrics Have to Say
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General Dynamics (GD - Free Report) reported $10.73 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.6%. EPS of $2.88 for the same period compares to $2.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.2 billion, representing a surprise of +5.20%. The company delivered an EPS surprise of -0.35%, with the consensus EPS estimate being $2.89.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how General Dynamics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Gulfstream Aircraft Deliveries - Total: 24 versus the two-analyst average estimate of 25.
Gulfstream Aircraft Deliveries - Mid-cabin aircraft: 3 compared to the 5 average estimate based on two analysts.
Gulfstream Aircraft Deliveries - Large-cabin aircraft: 21 compared to the 20 average estimate based on two analysts.
Revenue- Technologies: $3.21 billion versus $3.26 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -0.8% change.
Revenue- Marine Systems: $3.33 billion versus the six-analyst average estimate of $3.04 billion. The reported number represents a year-over-year change of +11.3%.
Revenue- Combat Systems: $2.10 billion compared to the $1.87 billion average estimate based on six analysts. The reported number represents a change of +19.7% year over year.
Revenue- Aerospace: $2.08 billion versus the six-analyst average estimate of $2.19 billion. The reported number represents a year-over-year change of +10.2%.
Operating earnings- Aerospace: $255 million compared to the $273.69 million average estimate based on five analysts.
Operating earnings- Combat Systems: $282 million versus the five-analyst average estimate of $257.18 million.
Operating earnings- Technologies: $295 million compared to the $301.71 million average estimate based on five analysts.
Operating earnings- Marine Systems: $232 million compared to the $217.61 million average estimate based on five analysts.
Operating earnings- Corporate: -$28 million versus the four-analyst average estimate of -$32.32 million.
Shares of General Dynamics have returned +5.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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General Dynamics (GD) Reports Q1 Earnings: What Key Metrics Have to Say
General Dynamics (GD - Free Report) reported $10.73 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.6%. EPS of $2.88 for the same period compares to $2.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $10.2 billion, representing a surprise of +5.20%. The company delivered an EPS surprise of -0.35%, with the consensus EPS estimate being $2.89.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how General Dynamics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gulfstream Aircraft Deliveries - Total: 24 versus the two-analyst average estimate of 25.
- Gulfstream Aircraft Deliveries - Mid-cabin aircraft: 3 compared to the 5 average estimate based on two analysts.
- Gulfstream Aircraft Deliveries - Large-cabin aircraft: 21 compared to the 20 average estimate based on two analysts.
- Revenue- Technologies: $3.21 billion versus $3.26 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -0.8% change.
- Revenue- Marine Systems: $3.33 billion versus the six-analyst average estimate of $3.04 billion. The reported number represents a year-over-year change of +11.3%.
- Revenue- Combat Systems: $2.10 billion compared to the $1.87 billion average estimate based on six analysts. The reported number represents a change of +19.7% year over year.
- Revenue- Aerospace: $2.08 billion versus the six-analyst average estimate of $2.19 billion. The reported number represents a year-over-year change of +10.2%.
- Operating earnings- Aerospace: $255 million compared to the $273.69 million average estimate based on five analysts.
- Operating earnings- Combat Systems: $282 million versus the five-analyst average estimate of $257.18 million.
- Operating earnings- Technologies: $295 million compared to the $301.71 million average estimate based on five analysts.
- Operating earnings- Marine Systems: $232 million compared to the $217.61 million average estimate based on five analysts.
- Operating earnings- Corporate: -$28 million versus the four-analyst average estimate of -$32.32 million.
View all Key Company Metrics for General Dynamics here>>>Shares of General Dynamics have returned +5.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.