“In short, we expect revenue growth throughout the year, but at a slowing rate of growth because G700 deliveries began in the second quarter of last year.”

In context

“ext of the business segments and provide detailed color as appropriate. First, Aerospace. Aerospace did particularly well in the quarter. It had revenue of $3.03 billion and operating earnings of 432 million with a 14.3% operating margin. Revenue is $942 million more than last year's first quarter, a 45.2% increase. To give you a little color here, the increase was driven by a 50% increase in aircraft deliveries, including 13 new G700s and higher services revenue at both Gulfstream and Jet Aviation. The 36 deliveries in the quarter are about as planned. Recall, however, that there were no G700 deliveries in the first quarter of 2024. So this quarter really shows the robust revenue increase driven by the introduction of the G700. In addition, we saw improved margins on our G700 deliveries. In short, we expect revenue growth throughout the year, but at a slowing rate of growth because G700 deliveries began in the second quarter of last year. As I indicated last quarter, the supply chain continues to improve and is performing better to both schedule and quality. We are finding fewer faults and those we are finding are becoming easier to fix. In short, I am increasingly confident that we can meet this year's delivery plan. We are also pleased that the G800 was certified by both the FAA and EASA on April 16th. This is expected to be a smooth entry into service and we have some reason to believe that we can exceed our planned deliveries of G800. I would be remiss if I failed to mention that Jet Aviation made a significant contribution to the quarter's results. Its revenue was up 8% and earnings up 22% over the year ago quarter on 160 basis point improvement in operating margin. This business has become a real jewel. In summary, t”