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I wanted to ask your thoughts on the conflict in the Middle East and potential impacts to deliveries, your commercial services and weapons businesses
do we think about 737 and 787 cash margins in the near term? How much they're depressed longer term as well
albeit a modest Q4 free cash flow exit rate, just a modest number, how do we think about 2026
How do you think about the 0 for 0 with EU? How do you think that the order momentum builds from here
How are we thinking about production ramps outside 2025 with the 37 and the 87 rates and how you're watching the biggest risks
it seems like the timing to stabilize those keeps getting pushed to the right. How are you actively managing those programs
How do you think about higher fuel and how it changes the competitive landscape, but specifically focusing on international, how do you think about market share opportunities where you're investing...
how do we think about Atlantic capacity next year? Glen, you mentioned more evenly dispersed I guess, how are you thinking about that? And maybe secondly, given your competitor just announced some ...
How do we think about that turning positive? What were the biggest areas of weakness do we think about the improvement in Q3 and Q4?
how do you think about US non-U.S. point of sale exposure to the curve? What's going on in Europe, and are some of the best-performing areas or countries versus lower performers?
what do you need to see your flat capacity in the second half? What do you need to see to actually have reduced your fleet
how much risk there is given or just getting back to pre-pandemic levels in the corporate? And why corporate flowed
How do you think about the number of A350 deliveries this year and how that signals to the strong Atlantic demand that you're seeing
How do we think about it for 2025? As it works towards normalized levels
Should we expect any cadence changes to deliveries for the rest of the year for these jets?
Is it fair to say that the 2% EPS raise is primarily related to aerospace and the 15% margins versus the 14% guide
How do we think about GD Combat what's going on there? There's been a lot of press about capacity and missions and ammo. You know? How are you thinking about capacity coming online for combat
the order momentum has been secured. Can you talk a little bit about what's driving that? Maybe by geography, was it bonus depreciation? Or is it the new model
how are you thinking about the G800 learning curve, the 700 as well?
maybe if you could talk about just the capacity of volume Gulfstream could produce. Is it growing off this 150 base annually?
can you just update us on how we think about the last 650 being delivered in this quarter as the G800 grams
what's really changed, whether it was the higher in cadence, the investment required from GD or is the government customer working closer with you
all your segments hit on it with Marine and DOGE within technology and even tariffs within aerospace
Any sort of quantification you could provide on just the floor, just given the supply chain has consistently lagged
services up 39% in Q1—great quarter both on shop visits and spare parts—and Q2 expected to be up high teens, implying only mid- to high-single digits in the second half
CES profit guidance for '26, if you could walk through margins at the midpoint, it implies margins are flat
how much of that is pure volume unlock through FLIGHT DECK in the supply chain versus tariff price surcharges or any other factors
LEAP aftermarket profitability, it's been a major contributor to CES performance year-to-date. Can you talk about
How do we think about the margin cadence in Q2 and the second half as we think about those tariffs coming in?
services, you raised the guidance here from just one month ago to low to mid-teens. Can you talk about the moving pieces
Jim, any way you could delve into that a little bit more, talking about your Middle East commercial aftermarket exposure?
can you talk about the solid Q1 margins. How much of an impact was supply chain? Was it negative? And any positive onetime items in there?
tell us the rank order of how you're thinking about 2026 end markets and any changes around the medium-term growth
How are you thinking about incremental investments surrounding your portfolio within aerospace and R&D focus areas?
What kind of surprised to the upside in the quarter on the commercial aftermarket?
How are you thinking about the biggest opportunities and the implications for margins
aftermarket, the 7% growth decelerating from 15% in Q1 and lagging some of the early reports from peers
Why the destocking now? And it seems like deliveries are actually increasing. Was it related to one specific platform
if commercial at least still set to outperform aftermarket for the year and any color on commercial OE production rates
aftermarket 15% commercial aftermarket growth. Versus the guidance of mid to high single digits. How was price a contributor
Lots of questions around Bombardier and the payment there was $385 million in Q4. So how do we think about that the return
if you could provide some end market color, particularly on the aftermarket mid-teens aftermarket growth in 2024
Maybe if you could just give us greater depth in terms of the market that opens up, the product offering
where do you see Howmet's end state just given where the balance sheet is, leverage is at record lows, margins in each segment are terrific
If you could update us on the timing of maybe the revenue contributions from the various engine expansions you've announced across aero and IGT
the margins are implied to step down 100 bps. So from 28.5% [ph] to 27.5% [ph], but the net tariff impact is only about 15 bps of that.
can you talk about the step down in engines margins in Q4? They were down about 450 bps quarter over quarter. A surprise given the continued volume growth there
if you could just talk about profitability and the impact within Defense contracting 150 bps, how much of it was from the fixed price program
How do you think about the growth within that segment and just moving past DOGE and potential like issues with civil customers
How do we think about just health growth going forward, whether it's the rural health program
the skinny budget included funding accelerating for the VA EHR modernization work where Leidos is a sub to Oracle
are the margins in Q1 reflective of the full year performance, is that how we should think about it?
can you talk about VBA since you've tackled those head on. The VBA recompete was awarded earlier this year
Can we talk about the ISR portfolio, how that did? Was it -- how is it growing? How is South Korea coming in?
How robust has that growth been in '25 and expectations over the next few years?
I could start off on ISR, Chris, because I think that's the segment that's been improving the most
Any way you could quantify maybe just specifically TDL and Aerojet hitting their stride
can we talk about the airborne side of the business? What do you see as prospects there?
You raised it by $200 million and 40% drops through to the bottom line, it's about an extra 30 bps on top of your peer high margin
In the past, Jim, maybe you've talked about a target framework with low single-digit revenue growth in the single digits and 10 to 20 basis points of margin expansion. In light of what we've seen r...
Can we talk about just the moving pieces of that bridge inclusive of pension and CapEx?
if we could touch upon the $4.6 billion tax liability commentary. What's that related to?
at what fuel price do you make further changes to capacity
I'd love to hear what feedback you're getting on the product segmentation. Are customers even aware? How has that changed your promotional activity
just if you could fill in the details on the corporate growth, how you're thinking about that filtering into your sales numbers
How realistic is it that Southwest and its initiatives buck that normal relationship that you trade off one for the other?
could you talk about Bob or Andrew, whoever would like the expansion into mediums like Google Flights and Expedia and how the yields you're experiencing there relative to volumes
Can you size B-21 and Sentinel? How do we think about these four growth drivers from both the revenue and earnings perspective
the fiscal twenty seven budget provides a lot of money out there to be contracted and you know, as you think about your '26 plan and thinking about the longer term trajectory of growth, where do yo...
as we think about '26 growth in the mid single digit range, does it accelerate from there in '27 as we think about international coupled on to that
the aero outlook for 2025. It seems down slightly but B-21 award timing seems unchanged. So what was the shift there
Do we still think about the Defense Systems as a 10% margin business on a go-forward basis then?
you called out solid rocket motors increasing to 25,000 by 2029 versus 13,000 today. Can you just talk about how Defense Systems' revenue growth profile changes
How do we think about the tariff impact on the overall Northrop Grumman Corporation portfolio and just international relationships
twelve point nine percent in the quarter. They lag the midpoint of your guidance of mid-fourteens. How do we think about the drivers of that
I think you called out in your script $900 million of headwind from MTI and classified when it comes to space, implies rest of the business is growing 2%
How would we think about 2026 guidance which suggests the rest of the year margins are flat to down slightly versus Q1, which would sort of buck the seasonal trend?
Collins embed 70 basis points of margin expansion. 40 basis points of that is the divestiture benefit. So only 30 bps organically.
you raised commercial OE revenue guidance by [ $150 million ] at Pratt pointing to mix. How do we think about
the guidance is now double-digit aftermarket growth for Pratt after 24% in H1 implies a steep deceleration.
how do we think about that across the rest of the Q2 to Q4 and across the segments? Is there any timing mismatch where it hits Collins first and Pratt in '26?
2024, if we look at the OE growth, it was about 21%. GTF deliveries were up 14%. So, is that seven-point delta all price on spares on GTF?
what underlying assumptions you've built with that regard in place in terms of the macro environment
commercial aftermarket, 11% in the quarter. Accelerated from the 6% in Q3
I think you mentioned freight and interiors are ahead on the aftermarket side. Can you give a little bit of color there?
the destocking, was it across both narrow-bodies and wide-bodies?
how do we think about the puts and takes within the four submarkets as we head into the second half of the year?
54% margins in Q2, just pretty strong, implies that the second half is around 52%, so 200 basis points down in the second half
just how do we think about profitability overall, just the flattening out? Is it OE coming back up from down four to mid-single digits?
Interiors, I think that's the only sub-segment below 2019 levels. How can we think about what's driving that when you expect that to improve?
is there any way you could tell us what passenger was in 2024 and how do you think about it in 2025?
folks are picking on the commercial aftermarket number. When we think about 8% organic growth in the quarter is pretty good
the industrial separation has been a long time coming. Can you maybe provide a little bit more on what led to the decision? Why now
Maybe if you could talk about your top priorities for the company now that you're CEO
You're guiding to aviation revenues up 9%, but orders were down 3% over the last twelve months. Can you maybe just discuss how the buildup to aviation guidance and the cadence for aviation througho...
Can you provide additional color on like where -- what's the update on the program? You've completed 215 flight hours. I think you're scheduled to deliver 6 test articles over the next 1.5 years. W...
Are you seeing any changes given the tariffs on competitors and yourselves, how are you thinking about tariffs
They fell below 8% in the quarter. You called out R&D cost. How should we expect that to progress through the remainder of the year
You think about the puts and takes on maybe the FLARA revenue contribution and profitability from here
how the Arctic Cat and certain product line sales impact revenues and profitability for the remainder of the year
can you talk about that bridge as we think about the 7.8% exit rate for Q4 for Aviation, how we think about that progressing
Can we talk about the 2025 deliveries? I think it's implied around 190 deliveries versus 151 in 2024
How do you think about what range fuel would need to settle in for United to return to that mid-single-digit capacity growth in the second half?
can you dissect what you guys are doing right, what the opportunities are for efficiencies going forward and how that plays into 2026 growth?
How are you thinking about the guardrails to capacity growth this year?
You mentioned the 100 bps of margin improvement per year. How do you think about that
Can we talk about the sequential unit revenue trajectory for Q4, the moving pieces of domestic versus international
there were comments around international non-US origin volumes down Europe down six, Canada down nine. Offset by the increase in US originated international traffic
How are you thinking about your deployment priorities towards your leverage targets with the voluntary prepayments as well versus share repurchases