🔹 Revenue: $18.62B (Est. $18.90B) 🔴; DOWN -1.3% YoY
🔹 EPS: $2.22 (Est. $6.63) 🔴; due to classified program losses
🔹 Free Cash Flow: $441M (Est. $1.40B) 🔴; DOWN -74% YoY
2025 Guidance
🔹 Revenue: $73.75B-$74.75B (Est. $74.02B) 🟡
🔹 EPS: $27.00-$27.30 (Est. $27.97) 🔴
🔹 Free Cash Flow: $6.6B-$6.8B
Q4 Segment Results
Aeronautics
🔹 Revenue: $8.01B (Est. $7.86B) 🟢; UP +5% YoY
🔹 Operating Profit: $434M (Est. $746M) 🔴; DOWN -43% YoY
🔹 Drivers: Higher F-35 production and sustainment volumes offset by classified program losses.
Missiles and Fire Control (MFC)
🔹 Revenue: $3.41B (Est. $3.32B) 🟢; UP +8% YoY
🔹 Operating Profit: -$804M (Est. $292M) 🔴; Significant losses due to $1.3B in classified program impacts.
Rotary and Mission Systems (RMS)
🔹 Revenue: $4.26B (Est. $4.43B) 🔴; DOWN -10% YoY
🔹 Operating Profit: $513M (Est. $513M) 🟢; FLAT YoY
🔹 Drivers: Lower sales on Seahawk and Combat Rescue Helicopter programs offset by higher volume in radar and C6ISR programs.
Space
🔹 Revenue: $2.94B (Est. $3.23B) 🔴; DOWN -13% YoY
🔹 Operating Profit: $283M (Est. $308M) 🔴; DOWN -8% YoY
🔹 Drivers: Decline in Next Gen OPIR and classified program volumes.
Full-Year 2024 Summary
🔹 Revenue: $71.0B (Est. $71.21B) 🟡; UP +5% YoY
🔹 EPS: $22.31 (Est. $27.99) 🔴; DOWN -19% YoY
🔹 Free Cash Flow: $5.3B (Est. $6.12B) 🔴; DOWN -15% YoY
🔹 Backlog: $176.0B (Record High)
Management Commentary
CEO Jim Taiclet highlighted strong demand with a record backlog of $176B but noted the significant impact of classified program losses on financial performance. The company remains committed to advancing air power solutions, integrating next-gen technology, and delivering high-value results to shareholders.