General Dynamics Earnings Beat; Old Dominion Profit In-Line, OKs New $3B Share Buyback Program
- July 26th, 2023
- 468 views
General Dynamics Corporation (NYSE: GD) exceeded earnings per share (EPS) expectations in the second quarter of 2023, reporting an EPS of $2.70, surpassing the consensus estimate of $2.56. Additionally, the company's revenue for the same period was $10.15 billion, which also exceeded the analysts' expectation of $9.46 billion.
In pre-market trading, $GD rose by $4.05 (+1.86%) to $222.05.
In other news, Old Dominion Freight Line, Inc. (Nasdaq: ODFL) reported Q2 2023 EPS of $2.65, in line with the consensus estimate of $2.65. However, the company's revenue for was $1.41 billion, while analysts were expecting $1.44 billion for the period.
Alongside the earnings report, the Company's Board of Directors approved a new $3.0B share repurchase program, which will commence after the completion of an existing $2.0 billion repurchase program, which had $376.9 million remaining available and uncommitted at June 30, 2023.
$ODFL was trading at $395.42 in pre-market, up $0.05 (+0.01%)
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