Strong Financial Performance
Earnings of $3.74 per diluted share on revenue of $13 billion, with operating earnings of $1.3 billion and net income slightly over $1 billion. Revenue increased by 8.9% compared to the year-ago quarter, with operating earnings up almost 13% and net earnings up 12%.
Record Order Activity
Over $28 billion in orders for the quarter, with a book-to-bill ratio of 2.2:1. Marine Systems segment was a major contributor with several submarine construction contracts.
Backlog and Cash Generation
Record level of backlog at $103.7 billion, up 14% from a year ago. Operating cash flow of $1.6 billion for the quarter, with a cash conversion rate of 138%.
Marine Systems Revenue Growth
Revenue of $4.22 billion, up 22.2% year-over-year. Driven by Columbia-class and Virginia-class construction.
Aerospace Segment Performance
Revenue of $3.06 billion, a 4.1% increase, with operating earnings of $403 million, up 26.3% from the year-ago quarter. G700 delivery cadence and operating margin improving.