🔸 Revenue: $21.62B (Est. $20.53B) 🟢; UP +9% YoY
🔸 Adjusted EPS: $1.54 (Est. $1.38) 🟢; UP +19% YoY
🔸 Free Cash Flow: $0.5B (DOWN -87% YoY)
🔸 Backlog: $218B (Commercial: $125B, Defense: $93B)
FY25 Guidance
🔹 Revenue: $83B-$84B (Est. $84.5B) 😕
🔹 Adjusted EPS: $6.00-$6.15 (Est. $6.08) 😐
🔹 Free Cash Flow: $7.0B-$7.5B
Q4 Segments:
Collins Aerospace
🔹 Revenue: $7.54B (Est. $7.34B) 🟢; UP +6% YoY
🔹 Adjusted Operating Profit: $1.21B (UP +17% YoY)
🔹 Drivers: Growth in defense sales (+13%) and commercial aftermarket (+12%), partially offset by lower commercial OE (-6%).
Pratt & Whitney
🔹 Revenue: $7.57B (Est. $7.03B) 🟢; UP +18% YoY
🔹 Adjusted Operating Profit: $0.72B (UP +77% YoY)
🔹 Drivers: Increased commercial OE sales (+31%), higher aftermarket (+17%), and military volume growth (+8%).
Raytheon
🔹 Revenue: $7.16B (Est. $6.75B) 🟢; UP +4% YoY
🔹 Adjusted Operating Profit: $0.73B (UP +18% YoY)
🔹 Drivers: Strong demand for defense systems (Global Patriot, NASAMS) and the restart of contracts with Middle East customers.
Full-Year 2024 Summary
🔹 Revenue: $80.8B (UP +9% YoY)
🔹 Adjusted EPS: $5.73 (UP +13% YoY)
🔹 Free Cash Flow: $4.5B (DOWN -17% YoY)
Notable Highlights
🔹 Capital Returns: $3.7B returned to shareholders in 2024; over $33B since the merger.
🔹 Backlog Strength: Reflects sustained demand for both commercial and defense products.
🔹 Operational Focus: Advancing strategic priorities through innovation and efficient execution.