DemandDemand for missiles and munitions in the US and abroad is accelerating as countries seek to refill stockpiles across domains.
Financial PerformanceOperating cashflow was $754 million, up vs. positive $414 million on working capital efficiency and net income growth, with adjusted FCF of $714 million, above consensus of $451 million.
Guidance2024 guidance was raised across select metrics, implying ~8-10% y/y growth, with segment operating margins set at 15.2%-15.4%, reflecting at least ~40-60bps expansion y/y.