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is that a target that you're willing to endorse? And if so, do you think the business is on the trajectory to achieve it
do you have a sense for when BCA will need to begin making these types of design decisions in order to have a competitive entry into service date
on the last call you seem to reference that the free cash flow usage for the year will be somewhere in the $4 billion to $5 billion range
can you characterize the pace at which you think the business can liquidate 777X aircrafts from inventory once EIS hits
can you share an update on the G300 and G400 development time lines, and your latest expectations as to the timing
Does that production break create any kind of absorption pressure that we should be aware of?
Danny, are G700 margins approaching mature levels at this point?
can you walk us through what drives free cash flow conversion to the 100% range in '26? Despite that big step up in CapEx
given the strong orders and demand at Gulfstream, as well as the strength on the production and supply chain side, I guess, wouldn't the delivery growth in 2026 be higher than this 1% increase
was the order strength at Gulfstream this quarter pretty well spread across aircraft types?
does getting to high teens margins at Aerospace require meaningfully higher Gulfstream deliveries
can you go into a bit more detail on what drove the margin strength at Aerospace this quarter
an update on LEAP aftermarket profitability, and particularly how LEAP aftermarket margins are trending in 2026 relative to 2025
can you quantify what the GE9X headwind ended up being in 2025? What is the incremental profit headwind from NINEX in 2026
would you be able to share any of your current thinking on 2026 at this point, particularly as it relates to CES revenue growth
the high end of the 2025 guide implies second half EBIT nearly $500 million lower than the first half
can you characterize how much of that 100% increase in price you see at this point in the income statement
can you refresh us on what the 2025 guide is assuming with respect to LEAP OE profitability?
why do they get recognized in margin at the time of award rather than the period of execution against those milestones
can you explain what is driving the additional delays for LHA 8, 9 and 10 that the Navy justification book show?
does the 2Q guide include any margin benefit at Newport News from the expected contract awards that Kari mentioned.
there are a lot of data centers under construction in the state of Virginia. It looks like within an hour or two's drive from Newport News. Are you seeing that have any kind of impact on the labor ...
do you expect the company to make money Morning. On CVN 80 and 81? Given this trend of negative EACs?
after you raised the wages for your workers in Newport News, did you see any other local area industries respond in kind by also raising wages?
relative to that 15% throughput target, are you looking for a similar number from both Ingalls and Newport News? Or is that target materially different between the 2 yards?
were the Virginia class negative EACs on the block four boats, the block five boats, or both
would the contract change on CVN 79 result in a change in delivery timeline for that ship
is that transition to multi-chemistry coatings still largely in front of you
what factors drove the step function change in the Commercial Aerospace growth at Engine Products in the quarter
do you see a future scenario where your gas turbine revenue at interim products could ultimately be larger than the commercial jet engine revenue?
should we be thinking about flattish CapEx in those years relative to 2025? Or could that increase?
you had some very strong sequential growth in aerospace fastener revenues this quarter, but it didn't really drop through to sequential EBITDA growth
within that 33% [ph] spares growth figure, can you segment that at all by end market, perhaps just to highlight what end markets were accretive
can you say what the guidance is assuming on the GTF advantage certification timing?
You referenced engineered structures benefiting from product rationalization this quarter. You can just explain in a bit more detail what that product rationalization point is referring to?
if you're willing to deploy CapEx for those scale-ups ahead of formal awards?
can you share an update on the classified program in Aeronautics, including how risk is trending on the program
is it CH-53Ks volume at Sikorsky that's trending lower than expected? Or is it Blackhawk?
Can you clarify, number one, if that effort would be self-funded or customer-funded?
Can you talk a bit about what drives that underlying margin decline, particularly given that you are on these newer contracts for F-35
would you be able to share any detail with respect what your market share on this upcoming PAC-3 contract
consensus is forecasting about a 7% revenue CAGR at Defense Systems over the next 3 years
Could you give us an update on that program and how performance has been tracking more recently on your F-35 radar production line
is the customer providing any incremental cash advances or working capital support to help offset some of these increased capital investments
if the b 21 acceleration of work hits in the quarter, should we think about that as being potentially additive to 2026 EBIT? Dollars? Or is it more of a wash in 2026
you got a big award on Gen 63 here in the quarter. But I believe in your prepared remarks, you called for flat volumes on that program. So can you just clarify why the volumes are flat
could you give any quantitative detail on the 2B21 financial items in the quarter between the higher EMD flight test costs and the contract restructure
can you give us any sense for how international book to bill has trended on a year-to-date basis?
can you share your latest framework and how we should be thinking about growth at Space Systems over the next couple of years
would it be reasonable to think that you're biased toward the lower end of the prior range given these B-21 costs
Are you reiterating the previous free cash flow targets for 2026, 2027, and 2028?
the guide imply some pretty solid margin expansion in Mission Systems? Maybe you could talk a little bit through the specific drivers
if the Air Force were to elect to accelerate production on B-21, would the incremental units that get accelerated have similar unit pricing
share your latest thoughts on the durability of the shop visit demand for PW4000 and V2500 over the next few years
can you explain how the transition to GTF Advantage will influence negative engine margin on the program?
can you walk us through how you're thinking about the pricing strategy for [ Hot Section Plus ], which I believe is off warranty?
Neil, why does Pratt commercial aftermarket growth slow to high single digits in 2026? Particularly given the strength you saw here in the fourth quarter?
was the GTF spare engine ratio down year-over-year this quarter? Or are these spare engines just being heavily discounted
should we expect the net impact of tariffs to decline in 2026 relative to 2025, assuming these current rates hold?
Chris, have you seen any operational impacts of the SPS fire at either Collins or Pratt?
are there any components of the free cash flow outlook in 2025 that you would call out as potentially normalizing or reversing in 2026
Can you give us a sense as to how many SKUs the defense business sells and the average volume on those SKUs?
are there any parts of your supply chain where you're seeing meaningful extensions in lead times
does Jet Parts currently have many PMAs on existing TransDigm products?
what would you define as material? Is it less than 1% share loss per year?
can you share any detail on the average contract duration at Simmons?
we expect this decoupling of sales growth from headcount growth to continue beyond 26?
it's also underpacing the airframe companies. So is there anything unique to TransDigm's portfolio you can point to that's driving that?
did the OEM contract renegotiation you've spoken about in the recent past conclude, or is that contract still being negotiated?
how TransDigm's commercial aftermarket revenue breaks down between airframe and in the engine?