General Dynamics Corporation Beats EPS Estimates; Misses on Revenues (GD)

Before the opening bell on Wednesday morning, General Dynamics Corporation (GD) reported its second quarter earnings, posting lower revenues and higher earnings from operations than last year’s Q2.

GD’s Earnings in Brief

General Dynamics reported second quarter revenues of $7.47 billion, which is a 4.6% drop from last year’s Q2 revenues of $7.83 billion. Net earnings from continuing operations for the quarter came in at $646 million, or $1.88 per share, which is up slightly from last year’s Q2 figures of $640 million, or $1.81 per share. The company's Q2 results beat analysts’ estimates of $1.77 EPS, while revenues missed expectations of $7.53 billion.

CEO Commentary

GD chairman and CEO Phebe N. Novakovic had the following comments: “General Dynamics’ strong second quarter performance reflects our continued focus on program execution and operational improvements. We have a solid building block for the future with an increased defense backlog and robust order activity across the portfolio of Gulfstream business jets.”

GD’s Dividend

General Dynamics pays its next quarterly dividend of 62 cents on August 8. The stock went ex-dividend on July 1. We expect GD to declare its next dividend in August or September.

Stock Performance

GD stock was inactive in pre-market trading. YTD, the stock is 25.12%.

GD Dividend Snapshot

As of Market Close on July 22, 2014

Click here to see the complete history of GD dividends.