Ron Epstein

I was wondering if we could maybe dig down deeper on the defense portfolio, both in terms of new product sales and in the services business

if you could dig down a little bit more on the engine anti-icing issue with the Dash 7 and Dash 10. What's going on there

could you talk about how you're thinking about Boeing's portfolio? I mean, there's been a fair amount of press

There's been discussion about this from class battleship. When would you expect some more details on that, a possible down select

We've seen, I guess, the DOW putting pressure on some contractors to make investments for, how do I say, the promise of future volume

you guys have brought to market sort of a refreshed fleet of kit. Right? So a bunch of new airplanes. That's driving demand. Because you got the newest stuff out there

Battleships. How do you think about battleships? Battleships, Golden Dawn. I mean, that's a lot of stuff going on. How do you think about that with your ship business

from your point of view, I mean, what are the levers you're pulling today to try to really get the efficiency out of the shipyards up?

How are you thinking about product development now? Because my understanding is Gulfstream has always had sort of a steady investment

How do you guys think about running your business in an environment where it's kind of this volatile?

Is there any impact on the CERT and delivery of G800? And do you get any compensation from the suppliers on the delay

mentioned spending $3 billion a year on R&D, a big number. Can you elaborate on spending, investments being made

what lessons have you all learned in commercial, given the size of the fleet and all the experience you have in -- with commercial engines

what makes you all feel so good about RISE today? And if it doesn't end up being an unducted fan, is there a ducted option

How are you all thinking about rare earths and some of the rare metals that you need either directly in what you do

777X is back in-flight test. Are there other opportunities for that engine beyond the 777X?

can you talk a little bit to the recent acquisition facility you guys bought in Meta and what your goal is for that

you guys are almost exclusively commercial. Is that opening any doors for you to do other things that maybe weren't -- I don't know, in the plan just a year ago

on the Aviation side, do you expect any impact there on tariffs

How are you thinking about just getting shipments of product? I mean my understanding there's freight that's waiting outside of ports

Any production contracts visible that you could discuss or hint at for 2025?

How is the South Carolina facility ramp progressing? And can you discuss at all the MOA with Hyundai, how is that evolving?

the Trump administration suggested that Hanwha is going to be making nuclear submarines into the Philadelphia Navy Yard. How does that changed things or not?

Can you give us more color on your partnering strategy on unmanned vessels? You announced recently a partnership with Shield AI and the progress you're having on your own internal autonomy systems ...

how large is that product line today? And if you could frame maybe the kind of growth you could see there

What impact, if any, are you guys expecting on the business from the changes in R&D in the tax code

what has to happen in the shipyards to really update the manufacturing process, right? I mean when you look at how the Koreans, do it

what are you seeing in terms of demand for your unmanned product for the autonomous stuff

How should we think about -- how IGT is going to go for you all over time

How exposed to rare earth and maybe rare minerals? I mean is that a question mark for you guys?

How are you thinking about that, John? And you guys were, I think, really the first to come out with the force majeure concept on tariffs.

Can you speak a little more to the opportunity in industrial gas turbines? Because it does seem like over the past several quarters, you've gotten, I'd say, more build up on it.

could we go a little deeper on what's going on in the Space business? I mean there was so much growth there.

How do you manage that, that when you're working with them, A, your organization can maybe benefit from their nimbleness

Given the increased defense spending in Europe, what impact do you think that will have for you guys?

Could you speak a little bit more about Golden Dome? You've mentioned that you're making some investment there already

with the new administration, maybe things change, and Boeing has got some assets for sale. Is there anything out there that you're thinking about

broadly thinking about your AI strategy and what you're doing there

isn't that NGI, the contract that you guys already won? Or am I thinking about that wrong? Because isn't that what NGI is?

How do you think about, about that and mixing that up with them being an important customer and what message that might send other customers?

how are how are you broadly thinking about the how a company would breadth and depth and legacy of Northrop Grumman and how that jives with this push towards, you know, the the nontraditional

your prepared remarks, talked about some program award delays. What's driving that? The administration has been pushing hard for speed on acquisitions

how is it going with a potential increase in the build rate on that aircraft and so on and so forth? Because if that were to play out, it is material

Any details you could share with international backlog growth or how we should think about that? How do you expect the growth to continue as NATO

How confident should we feel about the profitability on that given the potential changes to that program?

there's been a lot of talk lately about an Iron Dome. Given the kind of work that you guys do both in space and in missile protection

When we think about growth in 2025, how much of a contributor is B-21 and GBSD?

how are you thinking about you know, we got this executive order about how defense companies deploy capital you know, RTX was highlighted in, you know, a social media post by the administration.

It seems like the incremental margins might have been a little bit weaker than what we were thinking. Is that tariff related?

what you're seeing in OE production rates. It does seem we're starting to see some stability and lift in the Boeing narrow-body rates and wide-body rates.

Do you have any idea on NGAP, when that could be? Because I would imagine it's going to be one of the XA engines from either you guys or your competitor.

Yesterday, the Air Force bumped up their contract for NGAP to about $3.5 billion, a big number. Where do you guys stand on the program?

Was your experience, you know, bidding for the work on it any different than it was on any previous programs?

Depending how long the St. Louis strike is, how much exposure do you have there?

how about your own supply chain? What are you seeing there? Is that flowing better? Are there any bottlenecks there?

what are you guys seeing in kind of the pulse on freight and cargo? We've heard the ship-borne cargo is way down

Have you guys been kind of more interested in looking into that as a net market for you all, where I know a lot of what you do

Boeing has suggested that they're going to sell some stuff. Is there anything in that pile of stuff that might be attractive

with the new administration and maybe some changes, do you expect the M&A environment to change?

culturally, how do you achieve this, right, because you have no organization, I guess, in some parts that's used to being more independent

the industrial business over the years, we heard that there'd be too much tax leakage to spin it or do whatever -- how should we think about that the tax impact

how are you factoring AI and AI-driven autonomy into systems? And when I look at something like X-76, it seems like a platform that could generate a lot of interest

Things have changed. You know? And given that you've got this awesome toolkit of a lot of commercial parts

On the MV-75, how are you all thinking about the logistics and support for the aircraft? Because once aircraft are on the field, logistics and support can be pretty profitable

How is the unmanned portfolio doing when you look across the -- you've got unmanned land system stuff and Shadow and Aerosonde and some other stuff

is there opportunity to take some of the technology you guys are developing in there and, like, moving it over to some of your other aircraft

Is there much out there? I mean, you guys are looking at stuff. Defense tech seems to be a space where there's a lot of interest

Do you see any opportunities for you guys with maybe like a Scorpion 2.0 parenthetically, something like that with maybe the changing environment

have you heard any discussion around some form of accelerated depreciation coming back or something like that historically has been a nice catalyst