Phebe N. Novakovic
morning. Good
We reported increased very event, Howard of earnings of reflected a Tax adverse charge Act. our from result are from share to pleased joined the earnings operations Cuts from up Howard. quarter. million and was arising earnings operations over Jobs billion, and diluted earnings to one-time million continuing this $XXX share per of an and senior adjusted operations continuing adjusted have $X.XX. from This ago exclude you, Adjusted is was the Thank of on impacted Earlier leadership $XXX $X.XX of up million. impact The XXXX per revenue million a $X.XX EPS operations continuing tax Similarly, fully diluted $XXX we from fourth-quarter by share continuing continuing year team. provision. operations diluted impact Adjusting per fully today of $X.XX. we in earnings from were were had the $XXX
as significantly and market and in companies press A year-ago I see and already earnings release. segments. you’ve a XX.X%, more by X.X% You will the can more other respectively. of other were defense operating in B and suspect find a aerospace our up quarter of Revenue as explanation this against exhibits report seen fulsome you this lot
solid with in good all a all, all-around. So, performance quarter
a $X.XX billion. On from continuing operations $XX.XX an tax For we of year, $X.X of XXXX earnings the margins. of X.X% continuing point we a $XXX the on year in billion. for excluding from earnings as or fully continuing for operations very the $XXX in $X.XX double-digit Reform billion on leaving improvement most Revenue over were operations of tax million up up from XXXX. and was XX.X%. important billion million flow and operating share $XXX or earnings well-positioned basis, of up from XXX fully quarter. operations an $X.XX continuing per the performance. of impact from Earnings $XXX the the Free were All in year XX.X% good or reported. XXXX cash basis million, us were by earnings was Adjusted million increase $X.XX from charge, diluted was impacts of had share reform, Act operations continuing earnings from X.X%. earnings the the Perhaps story Operating all, the diluted revenue operations in quarter of cash had up adjusted per was
is going $X.XX we at flow flow of the earnings. to the free that be XXX% you For year approximately billion. beginning net the of We free in year, had cash cash advised
planning the better cash milestone as Systems horizon fact, enjoyed payments Land in strong. at very we note, were in at than In be performance was significantly operating cash the were throughout working it should billion that. and capital quarter $X Of Gulfstream. received received reduction Further, deposits our
margin. continuing sequential quarters. earnings all resulted were the so this reference year-over-year the groups in This lot and and basis guidance, a four had suffice to have revenue a from operating we earnings across very year for to adjusted as to view including I basis morning, on it more We say that sequential without operating the comparisons. operations quarter On that cover the a will similar in more
each discuss and color me appropriate. some group where provide Let
First, aerospace. million The of up the operating margin. X.X% million and by earnings improvement were a year-ago in result or quarter $XXX $XX up was -- Revenue or operating XX.X%. XXX against X. basis point
billion billion earnings $XXX up particularly million, was of quarter. strong point rate avoid $XXX year year-end, we pre-owned told an and XX.X revenue or the they of the were sales. you way, to This margin. For aerospace work aircraft sales, intake, because between a billion XX.X% at XX.X. fourth driven up higher-margins with carry we in entirely last Operating good $X.X expect improvement by operating billion had on really X%. margins. million margin $X.XX time revenue a $X.X the between on pre-owned to leverage negligible no lower year By advance we revenue very in outstanding to operating In full-year, order sum, At $X.XX XXX a strong with to somewhat hard
to pipeline the and good activity quarter On $X.X front, the book-to-bill order was was $X at in $X $X.X and in fourth denominated activity very to was aerospace units. The in the quarter robust.
multi-aircraft me the a a additional and order same was the on XX% subjects were quarter orders year-over-year. net number were since exactly quarter XXXX. year. orders last as over it Net in year. GXXX, when Gulfstream, Most relates up we GXXX basis, best ER quarter best the up Let to and Within since second It a also up year-over-year. XX%. some XXXER give growth in as the had GXXX and quarter orders XX% ER increase, that the XXX you almost terms large of the At orders customers. the with data XXX for launch is importantly, since cabin orders were were This on XXXX the midsize
cabin had nice ER. and large led a by XXX orders increase we the in So XXX
in speak, service XXX with buy these many are another. aircraft of over customers there to we returning early As
test by announced range XXX GXXX During At to GXXX the be only and very long-range and attributed are nautical of we and quarter, that cruise be miles, in nautical miles. during miles increase of and certain successful XXX were XXX the respectively .X can we delivered. way the GXXX we increased by .X control the by And of aircraft. also of GXXX by can when range these The the increased we XXX proven an at Mach, weight announced flight Mach. ranges the the increases
also the business enjoyed about leads market. overall sales which held our in XXXX, share other record they forward We this for subject. from market. Gulfstream to available. the slow as the and become you earnings up subject the I will usually to sense that clearly which to my rarely interest speak both in across on gained order this customer in market. is Furthermore, to very up service is others are another a industry. look me own picking of OEMs reports demand, and I activity speak well I We’ve
revenue of improvement billion, up and earnings margins. XXX was or were Combat, point Combat Next, basis operating Systems. on $XX $XX basis million up the quarter-over-quarter X.X% the $X.XX million in on strength or At XX% operating
basis better the actually point last reasonably were revenue at operating We higher this or this strong By with time year. consistent or in performance guidance. guidance were we leverage For on and million points X.X%. result improvement XX somewhat XX a margins operating the XX.X% the up an achieved million provided margin, than better sales up full-year, is very were basis $XXX on Operating earnings $XXX operating way here.
a that pipeline particularly quarter. we group our demand Internationally $X.X positive We In $X remains and demand billion, earlier had market, were continued fueling We orders particularly the were quarter of businesses, QX orders IDIQ book-to-bill operating the and vehicles with our across In Tank revenue continue of nice year history for combat modernizing, in Europe remained $XXX quite $X.X East. content of -- this a customer is for the This part growth. billion. contract to Middle type short, our U.S. Romania awarded see in strong is vehicle Army nice with of contract impressive leverage. order million, U.S robust, its activity billion X to in in group with .X the signed the good. wheel revenue our munitions the month combat and growth this year. this generating in
full-year than point lower the less million which Operating on planning our X.X% we million year a of Revenue in quarter. up $X.X last for commercial resume Bath was operating was Operating will million compared with Growth of discussed down basis which of $XX up X% the margins. Works $XX horizon. were the quarter, million, a Iron NASCO. billion were the million up $XXX ship included for to improvement For in XXX $XXX million Marine, you charge revenue of quarter. year-ago $XXX revenue against year-ago earnings earnings at or $XXX on
million to revenue At and better of to million. still this than where billion not So XXXX, $X.X to told of time margins need earnings $XXX operating you we expect be. last year we XXX but
consistent revenue $XXX with the but was our we're across demand operating higher of all $XXX significant Navy million in to shipyards, from earnings were response investing the our our end forecast, upper each target yards. customer the of So increased of than three range. In of million
over $X.X production ballistic the several years CapEx Boat at Columbia in of submarine. spend missile the the submarine on Electric Virginia anticipation next will V increased We in billion Block and new
is performance V size in requiring may you As and significant manufacturing upgrade a Block additional recall, capacity.
training meet with We partnerships for as skilled well our and to programs have internal Rhode need as increased public-private Island, also our Connecticut our trade.
in employees. ships. We have we Bath at auxiliary investing were two for and CapEx to the highly Over $XXX hired the also meet X,XXX years Navy's over and alone, destroyers million more last demand trained capable NASSCO and
support Operating year-ago million XXX million they Technology size of year-ago we and quarter So operating a was than fleet. to suffice are say, quarter. billion it improvement were the as fourth revenue $XXX the or in Navy the against of increase Information in quarter point better customers poised margin. X.X% XX.X% the the quarter $XXX In a of the Systems up the $X.XX group, our basis to in on earnings
or that to operating year For billion were or operating the for $XXX earnings with forecast $X.XX billion X.X% X.X%, operating year, a XXX this at improvement of revenue point $X performance. XX%. up in margin was billion of million and million a time year operating of $X.XX increase margin. good the but Very in rate last modest basis of Recall billion we $XX of earnings strength revenue a the down on $X.X
basis rate. operating with as So lower higher revenue point XX the margin came on in earnings a guided
has the book-to-bill excess IS&T and our pointed civ As new backlog for been in pace transition particularly at a healthy out, combination a administration the one-to-one slower of backlog. That anticipated. been of years ER awards originally four resulting we’ve of past in or of revenue and of the we business. this has each slowed Fed frequently that The than in said,
tax were of the to operating beginning Last me $X.XX to leads While up time of in that simply revenue wound just This related $X.XX, operating guidance on year EPS have of the before of will to at the $XX billion a XXXX year, of in for to XX.X% both half business with in margin IS&T better. expect was our expectations operating to $XX.XX up to the the of confident up regard to during charge cycle defense we we than discussed. revenue the of XX.X%. be but second guidance shortfall call and at came basis, earnings XXXX. our $XXX $XX.X short the picked On Most wound and billion year was provided this million an materialize the margin growth $X.XX. this not Fed enough better the recover of year-ago, this the a we because revenue time $X.XX year-end we Without civ did segment high-end companywide $X.XX reform, that around We to billion, fully. anticipated.
to well billion, up period earnings expect million as more $X.X million. margin. is slightly XXXX $XXX guidance we $X.X XXXX a Operating XXXX margin increase we and rolls In to on let billion So result a of The XX%. CAGR the XXXX in XXXX and beyond. in carry rate revenue some of and by spending to and a XXXX no with business five be commentary lower shift XXXX of through will $X.XX rollout. more aerospace, slightly for in mix increase through in be growth companywide an CAGR expect out a In provide modest sales up XXXX excess in group me year again of initially then operating billion than significant some with aerospace, rate sales XXXX, increased pre-owned $XXX modest X%. as for sales That year which as a R&D margin
be X.X% we modest during result mix While the X% transition see to and a XXXX to XXXX margin million in to earnings million significant to XXXX. to over increases earnings our operating a Systems, between shift, expect very $XXX of at in around XXXX predict rate Combat year. new $X.XX billion implies In it as we a $XXX million low our with $XX XXXX our the to significant earnings is increase. million, growth traction models earnings difficult earnings with last and point revenue fidelity of in increase a XX.X% rate with billion, similar earnings as $X.X see CAGR. to a $XXX of This We
with are X% over the the be sales $X.X in expected about 'XX to between have X% CAGR X.X%. with from of earning XXXX to of X.X%. Group the is $XXX expected of operating Marine period 'XX, rate growth operating X.X% about earnings expected improving XXXX anticipated earnings XXX is should an XXX, excess to in to between gradually Operating and For is be CAGR XXXX XXXX increase billion Marine to very and in margins. the Group $X.X XXXX for the margin million and $XXX million of XXXX. to 'XX XXXX to and be CAGR billion expected range. to to CAGR The The strong sales be revenues low in The at
increase XXXX billion, we IS&T, $X.X $XXX to an million in revenue of of $X.X Finally in expect $XXX to million. billion
$XX the million margin rate around expect to million with last XX%. to We operating year be of earnings $XX a up over
CAGR we of earnings and of group, an CAGR sales For this X%. see a X.X%
EPS of $XX.XX to $XX.XX to up of XXXX. up over Operating this to revenue, earnings to all an XX.X%. rolls to and This rolls $XX of billion So an X.X% companywide fully X.XX% per guidance billion around for $XX.XX XXXX margin X.X% of diluted operating up share.
that dilution count from XX% and is emphasize tax share from steady option me so shares purely exercises. as provision with year-end to It the plan assumes we operations. only avoid buy Let this hold assumes a figures, to
last like of rate plan, capital add effect off into year operating guidance So With must tax to to $X.XX quarterly effective achieving the much beating off our divide the four progression QX QX, EPS, and from the guidance outperforming $X.XX and for EPS take QX. a and lower come $X.XX deployment. our and respect QX
earnings For I've given each XXXX simply CAGR to consolidated the the sales business X%. of see This was period an XXXX, the of rollup CAGR a a we for of of and of projections X.X% operating groups. you
about XXXX all We XXXX through in the are segments. bullish quite period
Jason Let this your me turn questions. additional call over take to for commentary and then we'll
