Overview
- Q3 results: $10.4 billion in sales, $7.67 diluted EPS, 12.3% segment operating margin, materially higher free cash flow, 1.17 book-to-bill, and 32% international sales growth.
- 2025 outlook updated to $41.7–$41.9 billion in sales with EPS raised to $25.65–$26.05 and free cash flow reaffirmed at $3.05–$3.35 billion, reflecting timing shifts in awards.
- The second B-21 entered flight test with advanced procurement awards for LRIP Lot 3 and Lot 5 expected later this year, while production-rate acceleration talks with the Air Force remain unresolved.
- Missile defense programs advanced with a multibillion-dollar GMD Weapon Systems extension through 2030 and IBCS completing successful live-fire tests for Poland and the U.S. Army, now 32-for-32 in flight tests.
- Solid rocket motor and launch progress included Gen63 XL boosters powering a ULA Vulcan Kuiper mission and selection as a second supplier for the Navy’s SM-6, supported by ongoing capacity investments.