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Do you see 1Q as the low watermark for the BDS margin for the year?
you made an interesting comment on longer-term free cash flow that you think you could have significant growth beyond the 10
is the total of those pieces greater or less than $7 billion
do the remaining months of this year have 42 production units? Or is there some spacing before we actually see that
Clarification on the free cash discussion for this year, if 3Q looks like 2Q and then I put the $700 million on top of that, 4Q would have to be kind of barely positive to be minus 3% for the year....
Kelly, how did you reduce traveled work by 50% in a few months? And how did you have a positive defense margin despite the tanker news
if you live with the decisions that were made on the existing programs for until the end of those programs, how do you have confidence
What is it about the T-7A specifically that it keeps having so much cost creep?
how much are they just asking for reductions versus how much are you showing them capability that can help them gain efficiencies
Could you elaborate on the agreement announced with Eptai
I wonder if you can quantify the duration of the pent-up demand? Will it take you 1, 2, 3 years to get through that
To what extent was the quarter ahead of the free cash plan? And if it was, how much of that is pure outperformance
is it possible to provide any more color on the sticking points in the -- in getting to the finish line on the next batch of nuclear subcontracts
in reiterating the full year, it actually now you would need shipbuilding revenue down year-over-year for the rest of the year to do the midpoint of the guide. Is that possible?
if we were looking at that right now and then right next to it, we had the version you had of that from a year ago, do those look significantly different?
How help us better understand how the shipbuilding margins are flat for that full two-year window?
Can you talk a little bit more about that? I mean, how much upside and specifically, on the SSC win, when does that start ramping up for you?
Chris, 4% is in the rearview mirror. What do you mean by that?
Can you talk about why philosophically or mechanically and whether that's mechanically in the actual work or the nature of your contracting, why would throughput and top line growth improve before ...
you highlighted the shipbuilding revenue in the quarter being almost $250 million ahead of your plan, but then only raising the full year by $50 million.
can you give us a sense for the split -- on the labor front, the split between the need to improve new hiring versus the need to improve attrition
it feels like there's a little bit of a chasm between the very significant change in funding and treatment of your business and the Navy overall by the government in the budgets, and what you're do...
I was curious what your sense is for why that changed in the process? And how likely or unlikely it is that that you eventually see SAS
how much have you been able to raise wages in recent periods to get the attrition improvement that you referenced? And how much more do you have to raise wages
I was hoping to better understand is price or productivity, the bigger driver at the moment. And then as you move into 2026, can you stay above that historical targeted range
is there any framework for -- when we're looking at the upward revision of CapEx each of the last two years, how much you pick up from that in run rate revenue
if the mix of the business that's driving the growth changes, does the margin change a lot over a 2-, 3-year window
if it's possible to attempt to speak to the multiyear or maybe just even next year directionally beyond this year in the Health segment
do you feel like you can rule out having a year where revenue is down over the next three years
the reiteration of revenue guidance look a little conservative. I know you have the nonlinear working weeks.
Just want to make sure that's what you meant. And then just as a second question
Can you actually grow faster than that over the medium term
if you could talk about how you expect bookings to trend through the rest of the year
the divestiture coming out reiterating the $23 billion for 2026, I think, would require closer to 7% organic growth
Are those the run rates of those segment margins for the foreseeable future with the adjustments you've taken today?
has there been a step function improvement in ability to get work through? Or is it more of a stabilization?
your full year guidance for segment EBIT at Pratt and Collins, I think implies the margins are pretty flat sequentially through the year
which of those are still achievable in the medium term and have just had cost inflation or some other more transitory headwind versus which of those have structurally changed
Is there a way to think about where the margins go, 2027, 2028 versus last year
the lumpiness in distribution being a headwind, and then the statement of POS at distribution grew double digits
I was hoping maybe you could quantify how much faster the bookings growth was compared to revenue
reiterating the full year high single to low double implies that the fourth quarter growth rate is a significant acceleration versus the first 9 months of the year
Do you have visibility into the length of inventory that's still in the channel?
Are you just looking at a lot of assets that late in the process, the multiple is just too high? Or are there other reasons things are falling out
What are you expecting for the full year on free cash and an income conversion? And is it now the same number
are you surprised to have two quarters in a row of up seven seat miles are still growing a little faster than that
the guidance for the year at the midpoint would imply that, that EBITDA margin is essentially flat through the rest of the year
is it possible to state or quantify what short-cycle industrial revenue growth was in the quarter and what defense revenue growth was in the quarter and then what's in the full year 2026 revenue gu...
Why would total company organic not accelerate?
on the instrumentation margin. Maybe you can just maybe just talk about how you see that progressing through the rest of the year.
Could you spend another minute on the Digital Imaging margins and what you're thinking happens in the back half?
Do you guys have growth in orders versus growth in revenue or a book-to-bill for the first half of the year in what you would call broadly defined short cycle or in machine vision and instrumentation?
you're sort of saying what was 6 and 1 is 5 and 2. So you're still adjusted for the pull forward. You're still projecting a not insignificant decel in total organic revenue growth when the long cyc...
if Excelitas closes on schedule, can you talk about what that adds in revenue, EBITDA, earnings to the year?
what are you seeing in those businesses in machine vision and instrumentation? And how did you go about deciding what kind of recovery to assume in the guidance in those businesses?
Robert, you referenced 4% growth top line in the 2025 guidance. Is that 3% organic and a point from Micropac or is that 4% organic?
on the Bell margin, if you could give us a little more color on the year-over-year change and how it progresses to get to the guidance for the year
when you look at the backlog and the coverage, how are you balancing you want to grow and you want to get customers' jets, but you also want to protect the downside nodes of cyclicality
With what you're telling us today, on the LRIP, and once you take the charge, is that still the view
the guidance for '26 is flat to down, I guess. So are we just recasting the aviation margin, or are we also resetting the aviation margin expectation
does total program revenue grow each of the next few years or does it decline at any point in the window
just how you're thinking about setting supply and deliveries at Cessna for the rest of this year and into next year
fixed the LRIP pricing at the time of the bid where by the time you get to LRIP, there's been cost creep, so your LRIPs are breakeven or loss making
maybe you could just give us your updated plan on production and delivery growth through the rest of the year as you continue to recover from the strike
maybe you could just talk about the demand environment in the private jet market. Obviously, it's hard to predict the future
it would be lower than 2023 and the conversion from net income or the free cash margin, I think a little light of where you've talked about
Maybe just walk us through the pieces that would bring the Bell margin down that much in 2025