General Dynamics Corporation GD reported fourth-quarter 2024 earnings per share (EPS) of $4.15, which beat the Zacks Consensus Estimate of $4.13 by 0.5%. The bottom line also increased 14% from $3.64 recorded in the year-ago quarter.  

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The year-over-year bottom-line appreciation can be attributed to revenue growth as well as an improvement in operating earnings.

For 2024, the company reported EPS of $13.63, up 13.4% from the year-ago reported figure of $12.02. The full-year bottom line, however, missed the Zacks Consensus Estimate of $13.66.

General Dynamics Corporation Price, Consensus and EPS Surprise

General Dynamics Corporation price-consensus-eps-surprise-chart | General Dynamics Corporation Quote

Total Revenues of GD

Revenues of $13.34 billion beat the Zacks Consensus Estimate of $13.06 billion by 2.1%. The top line also improved 14.3% from the prior-year figure.

The year-over-year improvement can be attributed to increased revenues from each of GD’s four business segments.

For 2024, the company reported revenues worth $47.72 billion, up 12.9% from the year-ago reported figure of $42.27 billion. The full-year top line also beat the Zacks Consensus Estimate of $47.44 billion. 

GD’s Segmental Performance

Aerospace: The segment reported revenues of $3.74 billion, up 36.4% year over year. Operating earnings of $585 million improved 30.3% year over year.

Marine Systems: This segment’s revenues rose 16.2% to $3.96 billion from the year-ago quarter’s level. Operating earnings of $200 million declined 7.8% year over year.

Technologies: The segment’s revenues improved 2.8% year over year to $3.24 billion. Operating earnings totaled $319 million, which improved 4.6% year over year.

Combat Systems: The segment’s revenues of $2.40 billion were up 1.3% from the year-ago quarter’s level. However, operating earnings improved 1.4% year over year to $356 million.

Operational Highlights of GD

Operating earnings totaled $1.42 billion, up 10.5% from the year-ago quarter’s $1.06 billion.

Operating costs and expenses increased 14.8% year over year to $11.92 billion.

Interest expenses declined 2.6% year over year to $76 million.

GD’s Backlog

General Dynamics recorded a total backlog of $90.60 billion, lower than the third-quarter level of $92.63 billion. The funded backlog at the end of the quarter was $75.14 billion.

Our model projected a backlog of $90.28 billion for the fourth quarter.

Financial Condition of GD

As of Dec. 31, 2024, cash and cash equivalents totaled $1.69 billion compared with $1.91 billion as of Dec. 31, 2023.

The long-term debt as of the same date was $7.26 billion, down from the 2023-end level of $8.75 billion.

During 2024, cash flow from operating activities totaled $4.11 billion compared with $4.71 billion in the year-ago period.

GD’s Zacks Rank

General Dynamics currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Defense Releases

Teledyne Technologies Inc. TDY reported fourth-quarter 2024 adjusted earnings of $5.52 per share, which surpassed the Zacks Consensus Estimate of $5.23 by 5.5%. The bottom line also improved 1.5% from $5.44 recorded a year ago.

The company’s total sales were $1.50 billion, which beat the Zacks Consensus Estimate of $1.45 billion by 3.7%. The top line also rose 5.4% from $1.43 billion reported a year ago. 

Hexcel Corporation HXL reported fourth-quarter 2024 adjusted earnings of 52 cents per share, which improved 20.9% from the year-ago quarter’s figure of 43 cents. The bottom line also surpassed the Zacks Consensus Estimate of 51 cents by 2%.

The company’s net sales totaled $473.8 million, which beat the Zacks Consensus Estimate of $471 million by 0.6%. The top line also witnessed an improvement of 3.6% from the year-ago quarter’s figure of $457.5 million.

Textron Inc. TXT reported fourth-quarter 2024 adjusted earnings of $1.34 per share, which beat the Zacks Consensus Estimate of $1.25 by 7.2%. However, the bottom line declined 16.3% from $1.60 in the year-ago quarter.

The company reported total revenues of $3.61 billion, which missed the Zacks Consensus Estimate of $3.74 billion by 3.5%. Moreover, revenues decreased 7.2% from the year-ago quarter’s level of $3.89 billion.

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