This presentation contains information about the company's expectations of future performance, including future financial or operating performance. This information constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and is identified by words such as "forecast" or "outlook". Forward- looking statements are based on management's current expectations, estimates, projections and assumptions. These
statements are not guarantees of future performance and involve risks and uncertainties, which are difficult to
predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained in the company's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. All forward-looking statements speak only as of the date they were made. General Dynamics does not undertake any obligation to update or publicly release any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this presentation.
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Financial Highlights
Three Months
Variance
($ in millions, except for EPS)
1Q21
1Q20
$
%
Revenue
$9,389
$8,749
$640
7.3%
Operating Earnings
$938
$934
$4
0.4%
Operating Margin
10.0%
10.7%
- 70 bps
Net Earnings
$708
$706
$2
0.3%
EPS, Diluted
$2.48
$2.43
$0.05
2.1%
Cash from Operations
$3
($666)
$669
Free Cash Flow *
($131)
($851)
$720
Good Growth in Revenue; Contributions from all Segments
* See Appendix (page 9) regarding this non-GAAP financial measure
3
Aerospace
Three Months
Variance
($ in millions)
1Q21
1Q20
$
%
Revenue
$1,887
$1,691
$196
11.6%
Operating Earnings
$220
$240
($20)
(8.3%)
Operating Margin
11.7%
14.2%
-250 bps
1.3x Book-to-Bill
Gulfstream book-to-bill 1.34x
Broad customer, geographic and model mix
Evidence of continued strong demand
Operating Margins In-Line with Consensus
Flight Test Program for the G700 Doing Well
Good Order Quarter
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Marine Systems
Three Months
Variance
($ in millions)
1Q21
1Q20
$
%
Revenue
$2,483
$2,246
$237
10.6%
Operating Earnings
$200
$184
$16
8.7%
Operating Margin
8.1%
8.2%
-10 bps
Revenue Increased 10.6% primarily from:
Virginia Block V and Columbia construction
T-AOand ESB construction
Awarded $1.9 billion for Construction of the 10th Virginia Block V
Backlog Contains Visible Growth
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General Dynamics Corporation published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2021 11:07:06 UTC.
General Dynamics Corporation specializes in the design, manufacturing and marketing of aeronautical, space, naval, and defense systems and equipment. Net sales break down by family of products and services as follows:
- information systems and technologies (30.6%): telecommunication, control, surveillance, monitoring, and similar systems;
- submarines and boats (29.5%);
- business aircraft (20.4%). Moreover, the group offers maintenance and assistance services etc.;
- defense and security systems (19.5%): armored combat vehicles, land combat systems, weapons systems, munitions, protection and detection systems, etc.
Net sales break down by source of income between sales of products (58.2%) and services (41.8%).
Net sales are distributed geographically as follows: the United States (85.5%), North America (2.3%), Europe (6.5%), Africa and Middle East (2.7%), Asia/Pacific (2.6%) and America Latin (0.4%).
GENERAL DYNAMICS CORPORATION 
