General Dynamics stock falls after profit tops expectations but revenue surprisingly declines

Shares of General Dynamics Corp. /zigman2/quotes/208560027/composite GD +0.44% fell 1.0% in premarket trading Wednesday, after the aerospace and defense company reported fourth-quarter profit that beat expectation but a surprise decline in revenue, as its aerospace and marine and combat systems business all missed revenue forecasts. Net income fell to $952 million, or $3.39 a share, from $1.00 billion, or $3.49 a share, in the year-ago period. The FactSet consensus for earnings per share was $3.37. Revenue declined 1.8% to $10.29 billion from $10.48 billion, while the FactSet consensus was for rise to $10.67 billion. Operating margin fell to 11.5% from 12.3%. Book-to-bill, or orders divided by revenue, was 1-to-1. The stock has gained 0.7% over the past three months through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.30% has lost 4.8%.

/zigman2/quotes/208560027/composite

Add to watchlist GD

General Dynamics Corp.

US : U.S.: NYSE

$ 205.25

+0.90 +0.44%

Volume: 1.15M

May 26, 2023 4:00p

P/E Ratio

16.79

Dividend Yield

2.57%

Market Cap

$56.31 billion

Rev. per Employee

$374,610

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

4,205.45

+54.17 +1.30%

Volume: 0.00

May 26, 2023 5:20p