- Credit Suisse expected General Dynamics Corp (NYSE:GD) to report fourth-quarter FY22 slightly ahead, with upside potential driven by G650 delivery strength and repurchases, when the aerospace and defense giant reports its earnings next week on Jan. 25.
- The analyst forecasted fourth-quarter sales/EPS of $10.73 billion/$3.56 vs. the Street’s $10.67/$3.55.
- The analyst saw Gulfstream’s book-to-bill ratio between 0.8x- 1.0x and highlighted a competitor’s recently preannounced fourth-quarter unit book-to-bill ratio of 0.75x as a key read-through.
- Credit Suisse expected General Dynamic’s robust product portfolio would allow it to remain more resilient than its peers.
- For FY23, the analyst saw EPS of $13.76 vs. the Street estimate of $13.97 on $41.8B of sales. It estimated 145 Gulfstream deliveries (vs. 148 prior) and 163 deliveries in 2024 (vs. 166 prior).
- The price target was revised from $243 to $240 on slightly lower FCF estimates in 2024.
- GD Price Action: General Dynamic shares are down 0.71% at $233.90 at publication Thursday.
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