Why Aerospace And Defense Giant General Dynamics Shares Are Shooting Higher Today
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General Dynamics Corp (NYSE:GD) reported fourth-quarter fiscal 2023 revenue growth of 7.5% year-over-year to $11.67 billion, beating the consensus of $11.37 billion.
EPS of $3.64 (+1.7% Y/Y) missed the consensus of $3.68. Operating earnings rose 5% Y/Y to $1.29 billion, and the margin contracted by 30 bps to 11%.
Revenue by segments: Aerospace $2.74 billion (+12% Y/Y), Marine Systems $3.41 billion (+14.8% Y/Y), Combat Systems $2.36 billion (+8.5% Y/Y) and Technologies $3.15 billion (-3.1% Y/Y).
GD ended the quarter with a $93.6 billion backlog, the highest year-end backlog in the company’s history. The consolidated book-to-bill …
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