🔹 Adj. EPS: $6.06 (Est: $6.26) 🔴
🔹 Sales: $9.47B (Est: $9.94B; ▼ -7% YoY) 🔴
FY25 Guidance
🔹 Adj. EPS: $24.95–$25.35 (Prior: $27.85–$28.25) 🔴
🔹 Segment Op. Income: $4.2B–$4.35B (Prior: $4.65B–$4.8B) 🔴
🔹 Sales: $42.0B–$42.5B (Reaffirmed)
🔹 Free Cash Flow: $2.85B–$3.25B (Reaffirmed)
Other Key Q1 Metrics
🔹 GAAP EPS: $3.32 (▼ -47% YoY, includes $2.74/share B-21 loss provision)
🔹 Segment Op. Margin: 6.0% (▼ -490 bps YoY)
🔹 Net Earnings: $481M (▼ -49% YoY)
🔹 Free Cash Flow: $(1.82)B (▼ -87% YoY)
🔹 Record Backlog: $92.8B (▲ +5% QoQ)
🔹 Net Awards: $10.8B
🔹 Returned $800M to shareholders (buybacks + dividends)
🔹 Repaid $1.5B in long-term debt
CEO Commentary
🔸 “Global demand for our products remains strong, which is reflected in our record first quarter backlog. We are reaffirming our sales and free cash flow guidance for the year.” – Kathy Warden, CEO
🔸 Guidance does not assume impacts from government shutdowns, spending caps, or additional budget cuts; macro/political environment remains a risk factor.
