“We have line of sight to solid cash generation through the end of the year and we intend to direct any incremental cash generated above the $6.6 billion free cash flow estimate for 2025 towards pre-funding a portion of the required $1 billion pension contribution in 2026.”

In context

“mps, and throughput expectations in Q4. Meanwhile, RMS is lowering its forecast for sales by $500 million due to lower expected cost volume and slower production ramps at Sikorsky. Profit changes are generally in line with sales. Back to the company level, on earnings per share, we are increasing our estimate to a range of $22.15 to $22.35 Incorporating the $50 million of incremental segment mark operating profit as well as lower estimated full-year tax rate. Now estimated to be approximately 16.7%. And as our release stated, the EPS outlook excludes any non-cash impacts from the conversion of pension annuity contracts, that are currently under evaluation and could occur as early as the fourth quarter. Turning to cash, we've shifted to a point estimate our cash flow guidance this quarter. We have line of sight to solid cash generation through the end of the year and we intend to direct any incremental cash generated above the $6.6 billion free cash flow estimate for 2025 towards pre-funding a portion of the required $1 billion pension contribution in 2026. Our goal is to build financial flexibility in 2026 and beyond, to ensure we are best positioned to seize organic growth opportunities and create value for shareholders. In summary on chart 10, as Jim said, we're excited about the prospects for Lockheed Martin Corporation. We remain laser-focused on executing our record backlog to deliver on program commitments and drive favorable outcomes that create value for our customers, and shareholders. With that, Sarah, let's open up the call for Q and A. Operator: Thank you. Tone phone. You will hear an enunciator indicating you have been placed in queue. You may remove yourself from the queue at any time by pressing star then one again. We ask that you please limit yourself to one question. If you're using a speakerphone, please pick up the hands”