General Dynamics Corporation (NYSE:GD) Q1 2024 Earnings Call Transcript

Phebe Novakovic: Nice try. So, look, yeah, I think, once you get through the first lot, our performance from a margin standpoint will continue to improve. And you’ll see that third quarter will be significantly better than second quarter and fourth quarter will be even better still, but we will update you in our regular order. We kind of keep our discipline, as you well know, around updating guidance and I think that that’s appropriate.

Gavin Parsons: Yeah. Appreciate that detail. And then just in terms of the 100% cash conversion for the year, what’s the opportunity to exceed that, given last year you were well above and you built a lot of G700 inventory?

Phebe Novakovic: I think right now we’re just focused, given the steep ramp in the second half of the year, we’re really focusing on trying to hit that mark at this point in time.

Gavin Parsons: Thank you.

Phebe Novakovic: And we should get there. Great. Well, thank you, everyone, for joining our call today. As a reminder, please refer to the General Dynamics website for the first quarter earnings release and highlights presentation. If you have additional questions, I can be reached at 703-876-3152.

Operator: And, ladies and gentlemen, this concludes today’s call and we thank you for your participation. You may now disconnect.