“We still anticipate low single-digit sales growth as we convert our strong backlog position.”

In context

“t year's fourth quarter. In conjunction with our recent announcement of increased share repurchase authorization, we're increasing our share repurchase forecast for 2023 to $6 billion, provided there is not an extended shutdown scenario. These repurchases along with dividends, are expected to return nearly 150% of our free cash flow to shareholders for the year. And between 2022 and 2023, we are on track to repurchase nearly 13% of our current market cap. We're also set to deliver mid-single-digit free cash flow per share growth in 2023, and we're positioning the company to continue that level of growth in the future. Okay. A few comments on 2024. While we don't have a formal outlook to share, I'll provide a few directional markers as we see them today, barring any environmental setbacks. We still anticipate low single-digit sales growth as we convert our strong backlog position. As I previously mentioned, the backlog supports a higher growth rate, but the value chain remains constrained by extended lead times that have yet to compress. On segment margins, we expect the underlying business to be relatively flat year-over-year, but anticipate variability caused by the timing of impacts from the MFC classified program. And at free cash flow, we're following the budget process to determine whether it will have an impact on the timing of our program schedules and milestones but are continuing to set internal targets that deliver mid-single-digit growth and free cash flow per share. Okay. Let's wrap it up. Results through the first three quarters have been solid with a long-term demand environment that is favorable to Lockheed Martin's 21st Century security capabilitie”