General Dynamics Hits High Revenue But Faces Earnings Hiccup In Q2: Details
Portfolio Pulse from Akanksha Bakshi
General Dynamics Corp (NYSE:GD) reported strong Q2 2024 revenue growth of 18% YoY to $11.976 billion, beating expectations. However, EPS of $3.26 missed the consensus of $3.29, leading to a 5.69% drop in share price. Operating earnings rose 20.2% YoY, and the company saw growth across all segments. Despite positive revenue, the outlook indicates a margin shrinkage by 30 basis points.
July 24, 2024 | 2:20 pm
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General Dynamics reported strong Q2 revenue growth but missed EPS estimates, leading to a 5.69% drop in share price. The company saw growth across all segments but expects margin shrinkage in 2024.
Despite strong revenue growth and positive performance across all segments, the miss on EPS and the outlook for margin shrinkage have negatively impacted investor sentiment, leading to a short-term decline in the stock price.
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