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Jan. 26, 2022, 7:14 a.m. EST

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

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By Tomi Kilgore

Shares of General Dynamics Corp. /zigman2/quotes/208560027/composite GD +0.55% 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 +1.99% has lost 4.8%.

/zigman2/quotes/208560027/composite
US : U.S.: NYSE
$ 221.26
+1.21 +0.55%
Volume: 1.48M
May 26, 2022 4:00p
P/E Ratio
18.95
Dividend Yield
2.28%
Market Cap
$61.45 billion
Rev. per Employee
$373,152
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/zigman2/quotes/210599714/realtime
US : S&P US
4,057.84
+79.11 +1.99%
Volume: 2.40B
May 26, 2022 5:42p
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