The company, a contributor to my think tank, reported fourth-quarter sales of $18.1 billion and full-year sales of $67.1, with backlog rising to $175 billion on the strength of a 1.28 book-to-bill ratio.
Sales for the full year were up 6% from the prior year, while earnings per share rose 12%. Free cashflow in 2022 totaled $4.9 billion, significantly better than forecast in October. The company projects further sales gains in 2023 due primarily to recovery in commercial aircraft markets. Revenues are expected to reach $72-73 billion, representing 7-9% organic sales growth over 2022.
With business lines spread across military and commercial, domestic and foreign, production and aftermarket segments, the company looks well on its way to becoming the world’s