GD - General Dynamics rises as earnings revenue beat estimates

General Dynamics ( NYSE: GD ) on Wednesday said earnings rose in Q4 as revenue gains in its marine systems, combat systems and technologies units more than offset a decline in aerospace. Its stock rose 2% in premarket trading.

The aerospace and defense company reported profit growth of 4.2% from a year earlier to $992 million in Q4. On a per-share basis, earnings grew to $3.58 from $3.39 a year ago to beat the Wall Street consensus of $3.54.

Total sales rose 5.4% to $10.85 billion, exceeding the analyst consensus estimate of $10.68 billion.

By business segment, revenue for combat systems rose 16%, ahead of a 9.3% gain for technologies and 3.4% for marine systems. Aerospace revenue slipped 4.3%.

The company's order backlog grew to a company record of $91.1 billion, lead by an almost 20% increase in aerospace to $19.5 billion.

General Dynamics’ products include Gulfstream business jets, nuclear-powered submarines, guided-missile destroyers, M1 Abrams tanks and Stryker armored fighting vehicles.

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