General Dynamics Corp. (GD) announced strong quarterly results Wednesday, topping analysts top and bottom line estimates even when the airline department went through a new model transition that could have affected sales.
However, the company's share falls 3.5% Wednesday after the company gave weak year-round guidance in a redemption after earnings. The company expects to earn between $ 11.60 and $ 11.70 per share in 2019, short of Wall Street consensus $ 11.98 per share expectations.
Revenues of $ 38.5 billion are also expected to fall below $ 39.2 billion estimates.
The Fall Church, VA-based defense contractor, reported a fourth-quarter revenue of $ 3.07 per share, an increase of 20.4% year on year, with revenue of $ 1[ads1]0.4 billion, a 16.9% hope from one year earlier.
"General Dynamics delivered solid performance in 2018," said Phebe N. Novakovic, Chairman and CEO. "Our aviation segment succeeded successfully through a new model transition, while at the same time achieving good order intake. Our defense businesses had a strong operating profit and continued to order significant new business."
Analysts asked by FactSet expected the company to report revenue of $ 2.98 a share of revenue of $ 10.36 billion.
All five of the company's segments reported revenue growth, including the Ministry of Aviation, which would have been due to slumping sales as the segment went through a continuous transition to new aircraft models.