Seth Seifman

I'm wondering if we could dig in a little bit deeper there. First on what gives you the confidence in kind of overcoming the supply chain challenges

Maybe you could talk a little bit about how KC-46, to the extent that you see it turning the corner, how is it turning the corner

You mentioned the recent Capstone review and how we can think about kind of the way you went through the 37, the flow of rate increase is coming on the 87 and what some of the kind of key things yo...

if you could talk a little bit about the progression in BCA margins from here, both as the different programs ramp up

if there's anything you could say to kind of size if we're thinking about the two impacts being kind of the China impact and the cost impact

I wanted to follow-up on maybe two other items as we think about the cash flow this year

the first quarter came in nicely ahead of the expectation for the year on margin rate. The reasons for that, that you mentioned seem to be fairly enduring

if you can update us on your expectations for future submarine contracts? For both Columbia and Virginia

now that we're through the product transitions, you know, there's some improvement expected in '26 here, but I think the hope is that those margins become more robust

Can you talk a little bit about where we stand in the replacement cycle for G650

it sounds like there's potential for Combat growth to accelerate out of this year. Is that a fair way to think about it?

in services after a strong couple of years, things seem to have slowed down a little bit here in the first half

there's a step down in terms of both margin and sales in the second half. And so maybe if you could talk a little bit about what's driving that

starting off with the 7% margin kind of slightly higher than what was initially expected for the year

how much of that is sort of due to supply constraint and the waiting for certification of the G800?

just in technologies, the year -- what's driving the year-on-year margin pressure?

in addition to Brent prices we have seen a significant increase in the spread for jet fuel. Are there special things we should be thinking about there

how should we think about margin trajectory there with LEAP OE becoming profitable, LEAP aftermarket continuing to become more profitable

when we think about what's driving that, is it all material availability? Is there a part of that, that comes from outfitting LEAP shops

I wanted to ask about the trajectory of margin going into next year, given kind of the step down that's implied for the second half

how do you think about those working through the supply chain?

I wanted to ask about the -- in terms of spares growth, you kind of talked about departures and price

What's the timeline when you think about when you might see the types of awards to get production going in that area

given the target of having a boat in the water in 2028, should we think about that ramping up rather quickly?

they have a decent amount of excess cash on the balance sheet by year-end. I know there's understandably a certain amount of reticence about repurchases

The wage increases that you talked about for Newport News, did those go into productivity assumptions on existing contracts and thus led to some higher booking rates

I think you mentioned earlier, Chris, the timing of the contracts -- or maybe Tom, you mentioned the timing of the contracts for Block VI and Build II could affect this year's results.

is there kind of a sizable cash advance associated with it? And is that part of the cash guidance for Q2

how do you think about where that could go and where international partners might actually be able to fit in

what contract awards are you assuming that the company will get this year in the guidance

in terms of the legacy aftermarket and the potential exposure there to the macro environment

if you could talk a little bit about the contribution of F-35 in defense overall this year and how you think about setting up for the future in F-35

how much does it really matter just in that the structures and fasteners will probably be dictated by build rate and engine

Once you've kinda got it performing the way you want it to perform, you know, how do you think about its place in the portfolio?

How do you think about the consequences of that for your intelligence and digital business and the potential to grow in that type of environment

do you could talk a little bit about the the investment areas that you are expecting to put additional CapEx in and the way that that supports and I assume supports some of the ramp in the defense ...

much softer growth in the beginning of the year. Kind of how should we think about the early part of the year and which of the segments is seeing that weakness

it looks like this year is probably going to underrun, to some degree, the CapEx forecast that we had back at the beginning of the year

how you think about the scale of opportunities, kind of your ability to capture them in the competitive environment and the time frame for capturing them

I wanted to ask about the communications business and kind of what you learned and what your takeaways were

How do you think about the sustainability of that margin going forward?

is that a difficult headwind to overcome for 2026?

how should we think about that piece of the portfolio?

there's some concern over there given the state of relations between the US and some of the European allies

Should we think about the magnitude there being kind of the difference between the guided margin and kind of where things landed?

given the backlog growth, would there be any reason not to expect mid-single-digit growth next year

Should we think that within following this charge, the potential for future charges there has really come down considerably

Should we assume that higher profitability on the LRIP units and reversal of charges is still a possibility depending on company performance over the next several years

How should we think about the ability to offset that?

I think the assumption is that Northrop will continue to be paying dividends, I I assume. Right

is three let's say, 300 million or so cash and then we think about the dividend. And so probably left with about $2 billion and I think you talked about repaying $05 billion of debt

if you could talk about the sort of the state of maturity and state of technology on missile readiness satellite or missile warning satellites

At what point does the duration of the shutdown become more of a concern in terms of something that where we might see an impact

you've said B-21 was going to grow but probably remain a high single-digit percentage of company sales. Likewise, for Sentinel, it at mid-single-digit

quantifying the portion of the charge related to the process charge versus the portion related to higher cost. And also would the process charge have been made

international had been running about $5 billion of sales. When you think longer term, is there either a dollar number or a percentage

It seems like there is an effort in this administration to kind of accelerate both tapping into commercial technology and tapping into the capital

I wanted to ask about the impact of lower expected air travel growth on the aftermarket businesses at both Collins and Pratt, particularly maybe the short-cycle stuff at Collins

in terms of missile defense and the Golden Dome initiative, you know, we understand that the administration's looking for contractors to step out a little bit more there in in terms of, you know, f...

are we still thinking about 14% growth in GTF deliveries for the year and which implies a very, very strong Q4?

there's been some reports in the press about upgrades at the FAA and the role that RTX might play in that.

just kind of the latest indications you're getting in order activity and kind of the shorter cycle areas of Collins aftermarket

how do you think about production and deliveries back about five or six years ago as we headed into the COVID period, the number of planes that are coming off warranty

Is there -- other than conservatism? Is there anything to be aware of regarding why that margin wouldn't ascend through the year?

I think you mentioned earlier in the call, $300 million of other small tuck-in M&A

how do you order those risks and the types of capacity cuts they've been talking about in the U.S.?

How is this environment that we've seen over the past couple of months sort of affecting that environment, and specifically your thoughts about how you model

Does anything change in your view of the rest of year? Or should we still think that there's no reason why we wouldn't see growth below

even with the CapEx that you're planning for this year, you know, still have some cash to deploy. No debt due this year

it's a pretty significant uptick in profitability in the fourth quarter and kind of what enables that

When we think about the LRIP units and bringing those forward, are there kind of additional contractual provisions that you can get to protect the company from concurrency risk

this was probably the highest earnings quarter for industrial in a little while. Is there -- do you feel like there's potentially some upside

When we think about the composition of those orders in terms of NetJets versus retail, is that a pretty steady composition