General Dynamics Corporation

President of Investor Relations.

Thank you, operator, and good morning, everyone. Welcome to the General Dynamics first quarter 2025 conference call. Any forward-looking statements made today represent our estimates regarding the company's outlook. These estimates are subject to some risks and uncertainties. Additional information regarding these factors is contained in the company's 10-K, 10-Q, and 8-K filings. We will also refer to certain non-GAAP financial measures. For additional disclosures about these non-GAAP measures, including reconciliations to comparable GAAP measures, please see the slides that accompany this webcast, which are available on the investor relations page of our website, investorrelations.gd.com. On the call today are Phoebe Novakovic, Chairman and Chief Executive Officer, Kim Correa, Chief Financial Officer, and Jason Aiken, Executive Vice President, Technologies. I will now turn the call over to Phoebe. Thank you, Nicole.

Good morning, everyone, and thanks for being with us. As you can discern from our press release, we reported earnings of $3.66 per diluted share on revenue of $12.2 billion, operating earnings of $1.268 billion, and net earnings of $994 million. These results compare quite favorably to the year-ago quarter. Revenue is up 13.9%, operating earnings are up 22.4%, and net earnings are up 24.4%. As a result, earnings per diluted share are up 78 cents, or 27.1%, more than the year-ago quarter. The operating margin for the entire company was 10.4%, a 70 basis point improvement over the year-ago quarter. While aerospace led the way with a 45.2% revenue increase, each of the defense segments also enjoyed revenue increases. A similar pattern is true with respect to operating earnings. Aerospace led the way with a stunning 69.4% increase, and each of the defense segments contributed nice improvements to operating earnings as well. We have obviously opened the year with a very strong quarter. It is important to note that the comparative quarter in 2024 also showed very good growth in all respects over first quarter 23. We also beat consensus by 16 cents in the quarter. At this point, let me ask Kim Correa, our CFO, to provide detail on our order activity, solid backlog, and cash activity before I come back with segment observations.