General Dynamics (GD) Tops Q1 EPS by 18c

General Dynamics (NYSE: GD) reported Q1 EPS of $2.34, $0.18 better than the analyst estimate of $2.16. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.69 billion.

General Dynamics' total backlog at the end of first-quarter 2016 was $64.7 billion. There was order activity across the Gulfstream product portfolio and strong demand for defense products, which resulted in a book-to-bill ratio (orders divided by revenue) of one-to-one in the Combat Systems group and greater than one-to-one in the Information Systems and Technology group. The estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $24.5 billion. Total potential contract value, the sum of all backlog components, was $89.2 billion at the end of the quarter.

For earnings history and earnings-related data on General Dynamics (GD) click here.

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