🔹 EPS: $4.15 (Est. $4.30) 🔴; UP +14% YoY
🔹 Revenue: $13.34B (Est. $12.84B) 🟢; UP +14.3% YoY
🔹 Net Income: $1.1B (Est. $1.14B) 🔴; UP +14.2% YoY
🔹 Operating Earnings: $1.42B; UP +10.5% YoY
🔹 Operating Cash Flow: $2.2B (Est. $2.41B) 🔴; 188% of net earnings
Segment Performance:
🔹 Aerospace Revenue: $3.74B (Est. $3.89B) 🔴; UP +36.4% YoY
🔹 Marine Systems Revenue: $3.96B (Est. $3.55B) 🟢; UP +16.2% YoY
🔹 Combat Systems Revenue: $2.40B (Est. $2.20B) 🟢; UP +1.3% YoY
🔹 Technologies Revenue: $3.24B (Est. $3.17B) 🟢; UP +2.8% YoY
🔹 Aerospace Operating Earnings: $585M; UP +30.3% YoY
🔹 Marine Systems Operating Earnings: $200M; DOWN -7.8% YoY
🔹 Combat Systems Operating Earnings: $356M; UP +1.4% YoY
🔹 Technologies Operating Earnings: $319M; UP +4.6% YoY
Key Metrics:
🔹 Backlog: $90.6B; UP +9.1% YoY
🔹 Book-to-Bill Ratio: 0.9-to-1 for Q4, 1-to-1 for FY'24
🔹 Total Estimated Contract Value: $144B
Major Contracts & Defense Awards:
🔸 $5.6B U.S. Air Force contract for modernizing Mission Partner Environments (MPEs)
🔸 $2.2B U.S. Space Force contract for sustainment services on the MUOS satellite system
🔸 $1.9B U.S. Navy contracts for Virginia-class submarines services & materials
🔸 $370M U.S. Army contract for 155mm artillery projectile parts
🔸 $820M in munitions & ordnance contracts
🔸 $1.4B in classified defense contracts
Capital Allocation & Shareholder Returns:
🔹 Cash & Equivalents: $1.7B
🔹 Capital Expenditures: $916M
🔹 Total Shareholder Returns in 2024: $3.0B
🔸 Stock Repurchases & Dividends Paid: $3.0B
CEO Phebe Novakovic’s Commentary:
🔸 "General Dynamics had a solid Q4, capping a year of steady growth in revenue and earnings across all four segments. Strong order activity and a 1-to-1 book-to-bill ratio position us well for continued growth."