“This is driven by higher services revenue, which we now expect to grow low to mid-20s, up from high teens.”

In context

“ar-over-year and improved pricing. Propulsion and Additive Technologies grew 29%, with all businesses growing over 20%. Profit of $386 million was up 75% year-over-year. Higher volume in Defense and Avio, customer mix, price and lower losses at additive offset continued investments and inflation. Margins expanded 380 basis points to 13.6%. Year-to-date, DPT has delivered 11% revenue growth $1 billion of profit, up 27% with 170 basis points of margin expansion. Turning to guidance on Slide 11. Given the strong year-to-date performance and trajectory entering the fourth quarter, we are raising our full year guidance across the board. We expect revenue to grow high teens, up from our prior outlook of mid-teens. At CES, we now expect growth of low 20s, up from our prior outlook of high teens. This is driven by higher services revenue, which we now expect to grow low to mid-20s, up from high teens. We continue to expect equipment to grow high teens to 20%. We now expect DPT growth of high single digits, up from mid- to high single digits previously. Operating profit is now expected to be in the range of $8.65 billion to $8.85 billion, up $400 million at the midpoint from the prior guide. CES operating profit is now expected to be in a range of $8.45 billion to $8.65 billion, up $450 million at the midpoint from prior guide. This reflects the drop-through from roughly $1 billion improvement in services revenue in the second half versus our prior guide and favorable services mix. We expect DPT profit to be in the $1.2 billion to $1.3 billion range, up $50 million at the midpoint versus the prior guide, reflecting year-to-date performance from improved deliveries. Corporate costs and e”