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General Dynamics breaks seven-day losing streak with Q3 earnings beat

Published Oct 25, 2023 12:25PM ET
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General Dynamics Corp (NYSE:GD).'s shares saw a 1.9% rise in premarket trading Today, signaling a potential end to a seven-day losing streak. This comes after the company surpassed Q3 profit and revenue expectations, driven by high demand across several divisions.

Despite a dip in net income to $836 million from $902 million the previous year, the company's earnings still exceeded the FactSet consensus of $2.91 per share. Revenue growth was also robust, with a 6% increase to $10.57 billion outpacing the FactSet estimate of $10.05 billion.

The strong performance was largely attributed to the company's marine systems, combat systems and technologies divisions, which offset an aerospace shortfall. Additionally, General Dynamics reported a record-high backlog of $95.6 billion, marking the most substantial figure in its history and further highlighting its solid performance during this period.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

General Dynamics breaks seven-day losing streak with Q3 earnings beat
 

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