Slide 1: Fourth-Quarter and Full-Year 2023 Highlights and Outlook Update
AEROSPACE MARINE SYSTEMS COMBAT SYSTEMS TECHNOLOGIES Fourth-Quarter and Full-Year 2023 Highlights and Outlook Update January 24, 2024
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: Full-Year 2023 Highlights
Full-Year 2023 Highlights • Record $42.3B of revenue on growth across all segments • Operating earnings of $4.2B with sequential growth each quarter • Robust demand resulted in year-end backlog of $93.6B – Book-to-bill of 1.1x for the 2nd year in a row • Record cash generation – Operating cash flow
Slide 4: Fourth-Quarter and Full-Year 2023 Financial Highlights
Fourth-Quarter and Full-Year 2023 Financial Highlights $ In Millions, Except EPS 4Q 2023 Δ 3Q 2023 Δ 4Q 2022 2023 Δ 2022 Revenue $ 11,668 10.4% 7.5% $ 42,272 7.3% Operating Earnings 1,288 21.9% 5.0% 4,245 0.8% Operating Margin 11.0% 100 bps -30 bps 10.0% -70 bps Net Earnings 1,005 20.2% 1.3% 3,315 -
Slide 5: Aerospace – Full-Year 2023 Highlights
Aerospace – Full-Year 2023 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Total Estimated Contract Value $ In Millions $ In Billions 13.7% $20.8 $20.9 13.2% $20.4 $8,621 $20.2 $20.1 $8,567 $19.8 $20.5 $1,182 $20.1 $1,130 $19.5 $19.3 $19.5 $19.1 2022 2023 2
Slide 6: Combat Systems – Full-Year 2023 Highlights
Combat Systems – Full-Year 2023 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions 14.7% 13.9% $8,268 $15.1 $15.1 $14.5 $7,308 $13.8 $14.1 $1,147 $13.3 $1,075 $2.4 $2.6 $2.8 $2.3 $1.6 $1.6 2022 2023 2022 2023 3Q22 4Q22 1Q23 2
Slide 7: Marine Systems – Full-Year 2023 Highlights
Marine Systems – Full-Year 2023 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions $47.7 $45.7 $45.9 $12,461 8.1% $43.6 $43.7 $42.2 $11,040 7.0% $7.0 $6.4 $897 $874 $3.2 $3.2 $1.6 $0.9 2022 2023 2022 2023 3Q22 4Q22 1Q23 2Q23
Slide 8: Technologies – Full-Year 2023 Highlights
Technologies – Full-Year 2023 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Total Estimated Contract Value $ In Millions $ In Billions 9.8% $12,922 9.3% $40.9 $41.4 $40.7 $40.8 $12,492 $39.6 $40.0 $1,227 $1,202 $13.7 $13.1 $12.7 $12.8 $12.7 $12.7 2022 202
Slide 9: Financial Guidance Focused on Operations and Execution
Financial Guidance 2023 Actual 2024 Guidance EPS, diluted $12.02 $14.35 – 14.45 Revenue ($B) Operating Margin Revenue ($B) Operating Margin $8.6 ≈ $12.0 Aerospace 13.7% ≈ 15.0% 111 deliveries ≈ 160 deliveries Marine Systems $12.5 7.0% ≈ $12.8 – 12.9 ≈ 7.6% Combat Systems $8.3 13.9% ≈ $8.5 ≈ 14.4% Te
Slide 10: General Dynamics
GENERAL DYNAMICS