“Space margins at the midpoint are slightly above 10% and include higher equity earnings related to ULA.”

In context

“ns expected to remain consistent with 2025 levels. Next, at RMS, we anticipate overall sales to grow in the low single-digit range, with higher growth coming from Sikorsky driven by the CH-53K and Black Hawk programs, partially offset by program timing and lifecycle headwinds on several radar training programs. RMS margins at 10.5% at the midpoint include impacts due to portfolio mix and program life cycles. Finally, space is projected to grow approximately 5% year-over-year at the midpoint, with strong growth expected on fleet ballistic missile, NGI, and hypersonic programs within the strategic and missile defense systems portion of the business, as well as solid growth from space tracking communication missions due to the Space Development Agency's transport and tracking layer programs. Space margins at the midpoint are slightly above 10% and include higher equity earnings related to ULA. Back to the consolidated level. On earnings per share, we project a range of $29.35 to $30.25. The midpoint range is over $8 higher than 2025, primarily due to the aforementioned program pension-related charges accounting for approximately $7 of the year-over-year improvement. The remaining upside comes from higher volume and a higher net FASCAS pension adjustment, partially offset by nonoperating related expenses, namely a higher tax rate. Wrapping up with cash, our free cash flow guidance is $6.5 billion to $6.8 billion. That estimate includes between $2.5 billion and $2.8 billion of capital expenditures as we are planning to increase our investment to support production ramps and other strategic growth opportunities. Included in this range is the initial portion of the multibillion-dol”