CLAIM #25289 · GD (GD) · 2023Q1 earnings call · Apr 26, 2023 · due Dec 31, 2023
“So we think that we plan to have Q1 as our lowest margin quarter. And we'll continue to work to that.”
Phebe Novakovic · CEO
In context
“ne. Phebe, I wonder to ask a question about Marine and at the risk of asking the question that you just said that we never update guidance at this time of year. If you can just give us some color, given what we thought about revenue and margin at Marine coming in. The revenue is clearly much stronger in Q1, the margin weaker for the obvious reason of the Virginia charge. Can you help us from here in terms of how the Virginia contribution changes from Q1 going forward now that the charge is done? And it seems Columbia is maybe coming in stronger. And if I could tack on one follow-up, there's been a lot of talk about the Columbia schedule, both in congressional testimony, GAO reports, et cetera. If you can give us the latest update on how you view the schedule for Columbia. Phebe Novakovic: So we think that we plan to have Q1 as our lowest margin quarter. And we'll continue to work to that. Virginia is -- it will stabilize once we get the schedule and supply chain issues resolved. But at this point, it's some comment on electric boat to continue to do better to offset those costs. So with respect to revenue, there's clearly some upside pressure there, but we're going to hold any other additional comment for the moment. So let's go to Colombia. And I think just the Navy has clearly articulated it -- firmly articulated that we are ahead of the contract schedule. The contract schedule is what matters. So let's put a little context on this. We are on the Colombia. We are 16 years into the 20-year lead ship schedule. I think within that context, it's indicative of the actions we have taken heretofore and those that we will continue to take to keep this program on schedule. Opera”
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SEC filings for GD ↗ · Claim quote is verbatim from the 2023Q1 earnings call.