“However, as we get into the second half, we are taking a more measured view given the evolving environment and have included the potential impact from deceleration in spare parts growth, lighter work scopes, delayed spare engine shipments, and reduced billings within our guidance.”

In context

“vailability in certain geographical regions; a global reduction in GDP growth impacting air travel demand. This guidance does not contemplate a global recession unfolding. Near term, orders continue to be strong, and we expect the strength in the first quarter to continue into the second quarter, with 95% of spare parts in backlog and all shop visits for the quarter already off wing. As a result, we are expecting second-quarter services growth of high teens, above our full-year guide, and supporting total company year-over-year and sequential profit growth in the quarter. For the full year, we are now expecting services revenue up roughly $4 billion year over year, from approximately $3.5 billion expected previously, supporting our increase of profit and cash to the high end of the range. However, as we get into the second half, we are taking a more measured view given the evolving environment and have included the potential impact from deceleration in spare parts growth, lighter work scopes, delayed spare engine shipments, and reduced billings within our guidance. While the external environment remains uncertain, we are taking proactive actions, including managing discretionary spending and conducting reviews to assess risks and opportunities to support our customers. Overall, balancing the various factors, we are confident in our ability to deliver the high end of our guidance given our strong first quarter, outlook for the second quarter, and a substantial backlog. With that, Larry, back to you. H. Lawrence Culp: Rahul, thanks. Our momentum is further supported by our sustained competitive advantages. With the industry’s largest fleet—80,000 engines and growing—and more than 2.3 billion flight hours, we operate at scale with unmatched proximity to our customers across decades-long life cycles, which makes us the partner of choice. Our field exper”