Fourth Quarter 2014 Conference Call – Raytheon Co

Raytheon Co · Jan 29, 2015 · 14 slides

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Fourth Quarter 2014 Conference Call January 29, 2015 Dial In Number 877.474.9502 Domestic 857.244.7555 International Reservation Number: 79908680 Replay Number 888.286.8010 Domestic 617.801.6888 International Reservation…
Fourth Quarter and Full-Year 2014 Highlights Strong bookings of 7.1 billion in the quarter and 24.1 billion for the year; book-to-bill ratio of 1.05 for the year Fourth quarter 2014 net sales of 6.1 billion; full-year net sales of…
Total Company Bookings and Backlog Bookings (B) Backlog for Period Ending (B) 24.1 22.1 33.7 33.6 7.5 7.1 Q4 2013 Q4 2014 2013 2014 2013 2014 Book-to-bill ratio of 1.16 in Q4 2014 and 1.05 for full-year 2014 Page 4
Total Company Net Sales Net Sales (B) Fourth Quarter Net Sales (M) Q4 2013 Q4 2014 % Change IDS 1,569 1,627 4% 23.7 IIS 1,458 1,538 5% 22.8 MS 1,638 1,719 5% SAS 1,613 1,660 3% Corp/Elims (408) (401) NM Total 5,870 6,143 5%…
Total Company Operating Margins Fourth Quarter Q4 2013 Q4 2014 Change 14.1% 13.1% 13.0% IDS 15.4% 18.4% 300 bps 12.1% IIS 8.3% 8.5% 20 bps MS 12.3% 12.3% - SAS 15.7% 13.1% (260) bps FAS/CAS Adjustment (60M) 70M 130M Corp/Elims…
Earnings Per Share from Continuing Operations Fourth Quarter 1.86 1.71 1.58 1.46 (1) Adjusted EPS () Fourth Quarter Full-Year Adjusted EPS 2013 1.58 6.38 Operations 0.06 (0.62) Reduced share count 0.05 0.22 Other items, net…
2015 Financial Outlook 2014 Actual 2015 Outlook Net Sales (B) 22.8 22.3 - 22.8 FAS/CAS Adjustment (M) 286 197 Interest Expense, Net (M) (203) (225) - (235) Diluted Shares (M) 313 305 - 307 Effective Tax Rate 26.5% Approx. 27.5%…
2015 Financial Outlook: By Business Net Sales (B) Operating Margins (%) IDS 6.0 - 6.2 15.1 - 15.3% IIS 5.8 - 6.0 7.4 - 7.6% MS 6.2 - 6.4 12.8 - 13.0% SAS 5.6 - 5.8 13.1 - 13.3% FAS/CAS Adjustment - 197 Corp./Elims. (1.5) - (1.6)…
2015 Financial Outlook: By Quarter 2015 Estimates Q1 Q2 Q3 Q4 Total Sales (M) 5,130 - 5,245 5,350 - 5,470 5,690 - 5,815 6,130 - 6,270 22.3 - 22.8B EPS 1.28 - 1.32 1.64 - 1.68(1) 1.41 - 1.45 1.87 - 1.90 6.20 - 6.35 Operating…
Pension Impact Millions Current Projections* P&L Impact 2014 Actual 2015 2016 2017 FAS (903) (1,177) (1,065) (995) CAS (1,189) (1,374) (1,485) (1,544) FAS/CAS Adjustment 286 197 420 549 Cash Impact Gross Funding Required…
Appendix Page 12
Workdays in Fiscal Reporting Calendar Q1 Q2 Q3 Q4 2015 61 64 63 61 2014 62 64 63 60 Increase / (decrease) (1) 0 0 1 Q1 Q2 Q3 Q4 2014 62 64 63 60 2013 63 64 63 59 Increase / (decrease) (1) 0 0 1 Page 13
Reconciliation of Non-GAAP Measures in Statement of Operations Information Adjusted EPS Non-GAAP Reconciliation (In millions, except per share amounts) 2015 Guidance Three Months Ended Twelve Months Ended Low end High end 31-Dec-14…
Reconciliation of Non-GAAP Measures in Statement of Operations Information Adjusted Income Non-GAAP Reconciliation (In millions) Three Months Ended Twelve Months Ended 31-Dec-14 31-Dec-13 31-Dec-14 31-Dec-13 Income from continuing…

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