Slide 1: First-Quarter 2021 Highlights
AEROSPACE AEROSPACE MARINE SYSTEMS COMBAT SYSTEMS TECHNOLOGIES First-Quarter 2021 Highlights April 28, 2021 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains information about the company’s expectations of future performance, including future financial or operating performance. This information constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act
Slide 3: Financial Highlights
Financial Highlights Three Months Variance ($ in millions, except for EPS) 1Q21 1Q20 $ % Revenue $9,389 $8,749 $640 7.3% Operating Earnings $938 $934 $4 0.4% Operating Margin 10.0% 10.7% - 70 bps Net Earnings $708 $706 $2 0.3% EPS, Diluted $2.48 $2.43 $0.05 2.1% Cash from Operations $3 ($666) $669 F
Slide 4: Aerospace
Aerospace Three Months Variance ($ in millions) 1Q21 1Q20 $ % Revenue $1,887 $1,691 $196 11.6% Operating Earnings $220 $240 ($20) (8.3%) Operating Margin 11.7% 14.2% -250 bps • 1.3x Book-to-Bill – Gulfstream book-to-bill 1.34x – Broad customer, geographic and model mix – Evidence of continued strong
Slide 5: Marine Systems
Marine Systems Three Months Variance ($ in millions) 1Q21 1Q20 $ % Revenue $2,483 $2,246 $237 10.6% Operating Earnings $200 $184 $16 8.7% Operating Margin 8.1% 8.2% -10 bps • Revenue Increased 10.6% primarily from: – Virginia Block V and Columbia construction – T-AO and ESB construction • Awarded $1
Slide 6: Combat Systems
Combat Systems Three Months Variance ($ in millions) 1Q21 1Q20 $ % Revenue $1,820 $1,708 $112 6.6% Operating Earnings $244 $223 $21 9.4% Operating Margin 13.4% 13.1% +30 bps • Across the Board Growth in Revenue – Growth both domestically and outside the U.S. – Highest Q1 revenue in a decade • Focus
Slide 7: Technologies
Technologies Three Months Variance ($ in millions) 1Q21 1Q20 $ % Revenue $3,199 $3,104 $95 3.1% Operating Earnings $306 $298 $8 2.7% Operating Margin 9.6% 9.6% - EBITDA * $427 $426 $1 0.2% EBITDA Margin * 13.3% 13.7% -40 bps • Organic Revenue Growth of 5.3% – Information Technology grew 5% sequentia
Slide 8: Appendix
Appendix GENERAL DYNAMICS
Slide 9: Non-GAAP Financial Measures
Non-GAAP Financial Measures First Quarter ($ in millions) 2021 2020 Earnings before interest, taxes, depreciation and amortization: Net earnings $ 708 $ 706 Interest, net 123 107 Provision for income tax, net 137 142 Depreciation of property, plant and equipment 136 122 Amortization of intangible an
Slide 10: Non-GAAP Financial Measures – Technologies
Non-GAAP Financial Measures – Technologies First Quarter ($ in millions) 2021 2020 Earnings before interest, taxes, depreciation and amortization: Operating earnings $ 306 $ 298 Other, net 23 20 Depreciation of property, plant and equipment 35 33 Amortization of intangible and finance lease right-of
Slide 11: GENERAL DYNAMICS
GENERAL DYNAMICS