Record First Quarter Performance
Achieved record Q1 sales of $4.9 billion with organic growth of 1.4%. Margin expansion of 80 basis points resulted in a 25.7% adjusted segment operating margin. Adjusted earnings per share grew 4%, and cash flow from operations increased 14% to $744 million.
Aerospace Systems Segment Growth
Aerospace Systems delivered exceptional performance with sales of $1.4 billion, an 18% increase year-over-year, driven by strong commercial and defense markets. Adjusted segment operating margin reached a record 27.9%, up 190 basis points, with orders remaining positive at 7%.
Debt Reduction and Cash Flow
Reduced debt by $370 million, improving net debt to adjusted EBITDA to 1.9x. Achieved record cash flow from operations at $744 million, a 14% increase versus the prior year.
Guidance Increase for Fiscal Year 2025
Raised fiscal year 2025 adjusted segment operating margin guidance by 30 basis points to 25.7%, reflecting 80 basis points of margin expansion year-over-year.