Military shipbuilder Huntington beats Q1 estimates on demand for aircraft carriers [Yahoo! Finance]
General Dynamics Corporation (GD)
Last general dynamics corporation earnings: 4/29 07:00 am
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Source: Yahoo! Finance
WHY IT IS IMPORTANT Demand for submarines and aircraft carriers is surging, fueled by China's expanding naval footprint and high global tensions, benefiting shipbuilding giants such as Huntington Ingalls. CONTEXT Huntington is the only major pure-play defense company that has outperformed S&P 500 index, helped by a well-supported navy shipbuilding budget, including inflation-related price increases. GRAPHIC BY THE NUMBERS The largest U.S. military shipbuilding company's first-quarter revenue rose 4.9% from a year earlier to $2.81 billion, ahead of analysts' estimate of $2.79 billion. Huntington reported quarterly diluted earnings of $3.87 per share, beating analysts' average estimate of $3.53, as per LSEG. WHAT'S NEXT The company reaffirmed its 2024 shipbuilding revenue target to be between $8.8 billion and $9.1 billion. However, shipyard labor retention remains a stubborn problem. Shipbuilding is also under pressure due to program delays, most notably on General
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Earnings
- 4/24/24 - Miss
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Sec Filings
- 5/15/24 - Form 4
- 5/13/24 - Form 4
- 5/13/24 - Form 144
- GD's page on the SEC website