“We look forward to a powerful second half with increasing revenue and earnings quarter-over-quarter as we forecasted at the end of last quarter.”

In context

“rongest market, but the yield is improving. The Middle East shows very strong potential. And just very recently, we have seen some improvement in China. The interest level of buyers and the expiration of accelerated depreciation at the end of the year suggests a reasonably strong order intake in the second half of the year, particularly in the fourth quarter. We are pleased to have both G700 FAA and EASA certifications behind us. The Aerospace comparative revenue and earnings numbers in the quarter are very good by any reasonable standard, but still behind consensus, largely attributable to deliveries that did not make it to the wire. In summary, the Aerospace team had a very good quarter. It is handling the rapid increase in deliveries and revenue on a methodical and disciplined fashion. We look forward to a powerful second half with increasing revenue and earnings quarter-over-quarter as we forecasted at the end of last quarter. Moving to the defense business as a collective. We once again saw strong growth and good operating performance across the portfolio. Let me walk you through each segment in turn. First, Combat Systems. Combat Systems had revenue of almost $2.3 billion, up 19% over the year ago quarter, with growth at each of the three business units. Earnings of $313 million are up almost 25%, and margins at 13.7% represent a 70 basis point increase over the Q2 last year. In short, very strong operating performance from Combat Systems. The increased revenue came from facilities expansion and artillery work in our ammo business, coupled with increases in international tank and wheeled vehicle sales and U.S. Army programs of record. Each of the businesses increased earnings nicely, with particularly strong”