Defense Company General Dynamics Stock Soars, Clocks Q3 Combat Systems Growth, Record Backlog
Portfolio Pulse from Akanksha Bakshi
General Dynamics Corp (NYSE:GD) reported a 6% YoY revenue growth in Q3 FY23 to $10.57 billion, beating the consensus of $10.04 billion. However, operating earnings fell 3.7% YoY to $1.06 billion. The company saw growth in its Combat Systems segment and a record backlog. The company's shares are trading higher by 4.08% at $242.51.
October 25, 2023 | 7:04 pm
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General Dynamics reported a 6% YoY revenue growth in Q3 FY23, beating consensus. However, operating earnings fell 3.7% YoY. The company's shares are trading higher.
The company's revenue growth and record backlog are positive signs, which likely contributed to the rise in the stock price. However, the fall in operating earnings could be a concern for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100