- General Dynamics Corporation GD reported fourth-quarter FY22 sales growth of 5.4% year-on-year, to $10.85 billion, beating the consensus of $10.69 billion.
- Segment Revenues: Aerospace fell 4.3%, Marine Systems increased 3.4%, Combat Systems jumped 15.5% and Technologies rose 9.3%.
- The operating margin was 11.3% versus 11.5% a year ago, and operating income for the quarter rose 3.5% to $1.2 billion.
- The company held $1.2 billion in cash and equivalents as of Dec. 31, 2022, and the free cash flow was $175 million.
- Net debt for the quarter totaled $9.2 billion. Cash provided by operating activities in Q4 totaled $669 million. Inventories rose 18.4% to $6.3 billion.
- EPS of $3.58 beat the analyst consensus of $3.54.
- Price Action: GD shares are trading higher by 2.09% at $240.37 in premarket on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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