“the strong profit we realized in the first quarter provides increased confidence in our ability to absorb currently estimated 2025 profit impacts from tariffs and the ENGAT announcement.”

In context

“bit and reduce risk for our customers. The LM-400 is capable of serving military, commercial, or civil customers, can be customized to host a variety of missions, and can operate in any orbit. Now I'll turn it back over to Evan. Evan Scott: Thanks, Maria. Shifting gears, I'll walk through guidance on Chart nine. Our expectations for Lockheed Martin's 2025 financial outlook remain unchanged from what we laid out in January, with the strong first quarter results positioning us well to achieve a consolidated full-year outlook of mid-single-digit sales growth, solid 11% margins, and high single-digit free cash flow growth of $6.7 billion at the midpoint. In addition, there is an opportunity to increase backlog in 2025, providing a solid foundation for sustained growth. As I mentioned earlier, the strong profit we realized in the first quarter provides increased confidence in our ability to absorb currently estimated 2025 profit impacts from tariffs and the ENGAT announcement. While it will take more time to complete a thorough business assessment of these dynamics, we're optimistic about achieving our profit targets for the year and look forward to partnering with Frank and the rest of the leadership team on operational excellence initiatives to unlock company-wide efficiencies. Now given the dynamic backdrop, I'd like to note several key assumptions within our guidance. First, on F-35, we continue to expect between 170 to 190 deliveries for the year from the world's premier fighter jet production operation, with a backlog of approximately 360 jets at the end of Q1. And we anticipate definitizing the Lot 18 contract in the second quarter, which we expect will unlock cash currently tied up in working capital on the balance sheet. At the same time, we're making”