“We continue to expect CES services to grow mid-teens, putting overall growth of CES at low-double digits to mid-teens.”

In context

“this quarter, we completed the sale of Electric Insurance. We also reached an agreement to sell the licensing business and a reinsurance agreement to exit a block of our life and health insurance business. Combined, these actions will result in proceeds of roughly $700 million of investing cash flow. Looking ahead, given the strong results and the momentum in our business, we are raising our profit and cash guidance. We are reducing our revenue guidance given lower engine output expectations. Growth is now projected to be up high-single digits due to lower equipment revenue in CES. We now expect CES equipment revenue to be up high single to low-double digits from prior guidance of up high teens. This includes our updated full-year LEAP output expectations of flat to up 5% year-over-year. We continue to expect CES services to grow mid-teens, putting overall growth of CES at low-double digits to mid-teens. Consistent with prior guidance, we expect DPT growth of mid- to high-single digits. Operating profit is now expected to be in a range of $6.5 billion to $6.8 billion, up $250 million at the midpoint from prior guidance with margin expansion year-over-year. This improvement is primarily from CES, with operating profit now expected to be $6.3 billion to $6.5 billion from $6.1 billion to $6.4 billion previously, reflecting improved services performance and impact of lower equipment sales. DPT profit guidance is unchanged, and corporate costs and intercompany eliminations are now expected to be below $900 million from approximately $1 billion previously. Our expectations for interest expense and tax rate are unchanged, and we are raising our adjusted EPS guidance range to $3.95 to $4.20, up m”