SHLD - Why Aerospace And Defense Giant General Dynamics Shares Are Diving Today | Benzinga
General Dynamics Corp (NYSE:GD) shares are trading lower after the company reported first-quarter FY24 results.
Revenue grew 8.6% Y/Y to $10.73 billion, beating the consensus of $10.32 billion.
Revenue by segments: Aerospace $2.08 billion (+10.1% Y/Y), Marine Systems $3.33 billion (+11.3% Y/Y), Combat Systems $2.10 billion (+19.7% Y/Y) and Technologies $3.21 billion (-0.8% Y/Y).
The company ended the quarter with a $93.7 billion backlog, up 4.4% Y/Y. The consolidated book-to-bill ratio was 1 to 1 for the quarter.
In the Aerospace segment, orders in the quarter totaled $2.4 billion, growing backlog to $20.5 billion (up 6.2% Y/Y). Aerospace book-to-bill was 1.2-to-1 for the quarter.
The total ...