The company said it realigned its business into four reportable segments beginning in fiscal 2024: National Security and Digital, Health & Civil, Commercial & International and Defense Systems. It said prior-year segment results were recast to reflect the new structure.

10-QQuarterly reportFiled Jul 30, 2024Period of report Jun 28, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said it realigned its business into four reportable segments beginning in fiscal 2024: National Security and Digital, Health & Civil, Commercial & International and Defense Systems. It said prior-year segment results were recast to reflect the new structure.
The company said the operating income decline in its Commercial & International segment for 3 months and 6 months ended June 28, 2024 was driven by write-downs on certain programs within its UK operations for which cost and schedule were rebaselined, as well as the completion of certain contracts. It added that higher material volumes and program wins partially offset the decline.
The company said it had $823 million in cash and cash equivalents and $4.7 billion in debt as of June 28, 2024, and had no borrowings outstanding under its revolving credit facility. It said net bookings were $4.0 billion for Q2 and $7.7 billion for the first half.
The company said net cash provided by operating activities increased $210 million in Q2 from the prior-year quarter, and $371 million in the first half. Open market share repurchases were $100 million in Q2 and $250 million in the first half.

Key figures

Quarter ended June 28, 2024

Revenue: $4.1B
Operating income: $475M
Net income: $322M
EPS: $2.37

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Realignment into 4 reportable segments in fiscal 2024

The company said it realigned its business into four reportable segments beginning in fiscal 2024: National Security and Digital, Health & Civil, Commercial & International and Defense Systems. It said prior-year segment results were recast to reflect the new structure.

Source · Based on the MD&A text of the filing

Commercial & International operating income decline explained

The company said the operating income decline in its Commercial & International segment for 3 months and 6 months ended June 28, 2024 was driven by write-downs on certain programs within its UK operations for which cost and schedule were rebaselined, as well as the completion of certain contracts. It added that higher material volumes and program wins partially offset the decline.

Source · Based on the MD&A text of the filing

Cash, debt and net bookings status

The company said it had $823 million in cash and cash equivalents and $4.7 billion in debt as of June 28, 2024, and had no borrowings outstanding under its revolving credit facility. It said net bookings were $4.0 billion for Q2 and $7.7 billion for the first half.

Source · Based on the MD&A text of the filing

Operating cash flow growth and share repurchases

The company said net cash provided by operating activities increased $210 million in Q2 from the prior-year quarter, and $371 million in the first half. Open market share repurchases were $100 million in Q2 and $250 million in the first half.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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