- General Dynamics Corporation (NYSE:GD) reported first-quarter FY23 revenue growth of 5.2% year-over-year to $9.88 billion, beating the consensus of $9.33 billion.
- EPS increased by 1.1% Y/Y to $2.64, above the consensus of $2.59.
- Operating earnings improved 3.3% Y/Y to $938 million, and the margin contracted by 17 bps to 9.5%.
- Revenue by segments: Aerospace $1.89 billion (-0.6% Y/Y), Marine Systems $2.99 billion (+12.9% Y/Y), Combat Systems $1.76 billion (+4.8% Y/Y) and Technologies $3.24 billion (+2.5% Y/Y).
- General Dynamics generated cash from operating activities for the quarter of $1.46 billion compared to $1.97 billion a year ago. Free cash flow was $1.30 billion.
- The total estimated contract value, the sum of all backlog components, was $128.4 billion at the end of the quarter.
- Q1 consolidated book-to-bill ratio was 0.9-to-1. Company-wide backlog of $89.8 billion, up 3% Y/Y.
- Price Action: GD shares are trading lower by 4.80% at $212.05 during the market session on Wednesday.
Crescent Point Energy Q3 EPS $0.43 Beats $0.38 Estimate
Crescent Point Energy (NYSE:CPG) reported quarterly earnings of $0.43 per share which beat the analyst consensus estimate of $0.38 by 13.16 percent. This is a 126.32 percent increase over earnings of $0.19 per share from
