Slide 1: Fourth-Quarter and Full-Year 2024 Highlights and Outlook Update
Fourth-Quarter and Full-Year 2024 Highlights and Outlook Update January 29, 2025
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: Fourth-Quarter and Full-Year 2024 Financial Highlights
Fourth-Quarter and Full-Year 2024 Financial Highlights $ In Millions, Except EPS 4Q 2024 Δ 4Q 2023 2024 Δ 2023 Revenue $ 13,338 14.3% $ 47,716 12.9% Operating Earnings 1,423 10.5% 4,796 13.0% Operating Margin 10.7% -30 bps 10.1% 10 bps Net Earnings 1,148 14.2% 3,782 14.1% EPS, Diluted 4.15 14.0% 13.
Slide 4: Fourth-Quarter and Full-Year 2024 Financial Highlights
Fourth-Quarter and Full-Year 2024 Financial Highlights $ In Millions 4Q 2024 2024 Cash From Operations $ 2,160 $ 4,112 % Net Earnings 188% 109% Free Cash Flow * 1,805 3,196 % Net Earnings 157% 85% Returned $3B in Cash to Shareholders * See our earnings press release regarding this non-GAAP measure 4
Slide 5: Aerospace – Full-Year 2024 Highlights
Aerospace – Full-Year 2024 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Total Estimated Contract Value $ In Millions $ In Billions $11,249 13.7% 13.0% $20.9 $20.9 $20.8 $8,621 $20.4 $1,464 $20.0 $1,182 $20.5 $20.5 $20.0 $19.8 $19.7 2023 2024 2023 2024 4Q
Slide 6: Combat Systems – Full-Year 2024 Highlights
Combat Systems – Full-Year 2024 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions 14.2% $18.0 $8,997 13.9% $16.7 $17.0 $8,268 $15.6 $14.5 $1,276 $1,147 $3.3 $3.4 $3.3 $1.6 $1.9 2023 2024 2023 2024 4Q23 1Q24 2Q24 3Q24 4Q24 •
Slide 7: Marine Systems – Full-Year 2024 Highlights
Marine Systems – Full-Year 2024 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions $45.9 $14,343 7.0% 6.5% $44.1 $41.3 $40.5 $39.8 $12,461 $874 $935 $3.3 $2.7 $1.6 $1.6 $0.7 2023 2024 2023 2024 4Q23 1Q24 2Q24 3Q24 4Q24 • 15%
Slide 8: Technologies – Full-Year 2024 Highlights
Technologies – Full-Year 2024 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Total Estimated Contract Value $ In Millions $ In Billions 9.6% $48.1 $12,922 $13,127 9.3% $42.7 $41.5 $41.5 $40.8 $1,202 $1,260 $13.5 $14.4 $14.1 $12.7 $13.2 2023 2024 2023 2024
Slide 9: Financial Guidance Focused on Operations and Execution
Financial Guidance 2024 Actual 2025 Guidance EPS, diluted $13.63 $14.75 – 14.85 Revenue ($B) Operating Margin Revenue ($B) Operating Margin $11.2 ≈ $12.7 Aerospace 13.0% ≈ 13.7% 136 deliveries ≈ 150 deliveries Marine Systems $14.3 6.5% ≈ $15.0 ≈ 6.8% Combat Systems $9.0 14.2% ≈ $9.1 ≈ 14.5% Technolo
Slide 10: General Dynamics
GENERAL DYNAMICS