Aerospace and defense company General Dynamics (NYSE:GD)
will be reporting earnings tomorrow before the bell. Here’s what to look for.
General Dynamics beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $13.34 billion, up 14.3% year on year. It was a strong quarter for the company, with a solid beat of analysts’ backlog estimates and a decent beat of analysts’ EPS estimates.
This quarter, analysts are expecting General Dynamics’s revenue to grow 11.8% year on year to $12 billion, improving from the 8.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.48 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. General Dynamics has missed Wall Street’s revenue estimates three times over the last two years.
Looking at General Dynamics’s peers in the defense contractors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. RTX delivered year-on-year revenue growth of 5.2%, beating analysts’ expectations by 1.7%, and Lockheed Martin reported revenues up 4.5%, topping estimates by 1.1%.
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