Slide 1: Second-Quarter 2023 Highlights and Outlook Update
AEROSPACE MARINE SYSTEMS COMBAT SYSTEMS TECHNOLOGIES Second-Quarter 2023 Highlights and Outlook Update July 26, 2023
Slide 2: Forward-Looking Statements; Non-GAAP Measures
Forward-Looking Statements; Non-GAAP Measures This presentation contains forward-looking statements (FLS), including statements about the company’s future operational and financial performance, which are based on management’s expectations, estimates, projections and assumptions. Words such as “expec
Slide 3: Second-Quarter 2023 Highlights
Second-Quarter 2023 Highlights • Revenue increased 10.5% year-over-year; 2.7% sequentially – All segments grew year-over-year, with Defense rising by 12% – Sequential and year-over-year growth at Aerospace • Orders of $11.9B generated a book-to-bill of 1.2x • Record backlog of $91.4B • Strong operat
Slide 4: Second-Quarter 2023 Financial Highlights
Second-Quarter 2023 Financial Highlights $ In Millions, Except EPS 2Q 2023 Δ 1Q 2023 Δ 2Q 2022 Revenue $ 10,152 2.7% 10.5% Operating Earnings 962 2.6% -1.6% Operating Margin 9.5% - -110 bps Net Earnings 744 1.9% -2.9% EPS, Diluted 2.70 2.3% -1.8% Total Backlog $ 91,357 1.7% 4.3% 2Q 2023 1H 2023 Cash
Slide 5: Aerospace – Second-Quarter 2023 Highlights
Aerospace – Second-Quarter 2023 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Total Estimated Contract Value $ In Millions $ In Billions 12.7% $1,953 12.1% $20.4 $1,867 $19.8 $20.2 $20.1 $19.7 $19.4 $19.5 $19.3 $19.5 $238 $236 $19.1 $18.8 $17.6 2022 2023
Slide 6: Combat Systems – Second-Quarter 2023 Highlights
Combat Systems – Second-Quarter 2023 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions $1,924 14.7% 13.0% $15.1 $1,666 $13.8 $14.1 $13.4 $13.3 $13.1 $2.6 $2.8 $251 $2.3 $2.4 $245 $1.7 $1.6 2022 2023 2022 2023 1Q22 2Q22 3Q22
Slide 7: Marine Systems – Second-Quarter 2023 Highlights
Marine Systems – Second-Quarter 2023 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions $45.7 8.0% 7.7% $43.6 $43.7 $3,059 $42.9 $41.8 $42.2 $2,651 $6.4 $235 $211 $3.2 $3.2 $1.6 $0.7 $0.9 2022 2023 2022 2023 1Q22 2Q22 3Q22 4Q
Slide 8: Technologies – Second-Quarter 2023 Highlights
Technologies – Second-Quarter 2023 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Total Estimated Contract Value $ In Millions $ In Billions 10.1% $3,216 8.8% $43.0 $41.4 $3,005 $40.6 $40.9 $39.6 $40.7 $304 $283 $13.6 $13.6 $13.7 $13.1 $12.7 $12.8 2022 202
Slide 9: Financial Guidance
Financial Guidance 2022 Actual January 2023 Guidance July 2023 Guidance EPS, diluted $12.19 $12.60 – 12.65 $12.60 – 12.65 Operating Operating Operating Revenue ($B) Revenue ($B) Revenue ($B) Margin Margin Margin $8.6 ≈ $10.4 ≈ $10.2 Aerospace 13.2% ≈ 14.6% ≈ 14.1% 120 deliveries ≈ 145 deliveries 139
Slide 10: General Dynamics
GENERAL DYNAMICS