Quarterly guidance

Quarterly guidance
No quarterly guidance was given.

Annual guidance

Diluted earnings per share
$17.20 to $17.30 per diluted share
Revenue
$56.5 billion to $56.8 billion
Operating margin
Around 10.5%
Capital expenditures
Between 3.5% and 4% of sales for the full year
Free cash flow conversion
Around 105% for the year, with potential upside
Net interest expense
Approximately $215 million for the year

Outlook

Aerospace demand
Active interest across all Gulfstream models in the U.S., Western Europe, and Southeast Asia, with cautious concern from customers in the Middle East.
Combat Systems demand
Strong demand driven primarily by U.S. allies, with increased orders for wheeled and truck vehicles and high growth in munitions.
Marine throughput
Shipyards demonstrating strong revenue growth and productivity gains, with ongoing investments in facilities, automation, and workforce development.
Technology segment
Sustained mid-single-digit growth expected over time with consistent contributions from GDIT and Mission Systems.