“There's progress in many areas of the supply base, but we will likely face pockets of variability through the rest of this year.”

In context

“nged from what we previously shared, including $3 billion to $5 billion of free cash flow generation. Commercial demand remains strong across our key programs and services. Passenger traffic in February increased over 55% year-over-year and is at 85% of pre-pandemic levels, comprised [indiscernible] domestic and 78% international. Defense demand is robust, and the initial FY '24 presidential budget is in line with expectations. As Dave mentioned, our portfolio and capabilities are well positioned to support the needs of the nation and of our allies. On the supply chain front, as you'll recall when we set out our 2023 framework last November, we predicted the supply chain instability would likely continue. The good news is that we plan for it within our financial and delivery guidance. There's progress in many areas of the supply base, but we will likely face pockets of variability through the rest of this year. We continue to make key investments, including higher inventory buffers and forward deployment of resources as we take appropriate actions to mitigate impacts and improve predictability. From a quarterly perspective, we continue to expect financials to improve throughout the year. On 2Q specifically, we expect core EPS will be roughly in line with 1Q '23 performance absent the tanker charge, as the 737 delivery impacts would be largely offset by higher wide-body deliveries. We expect free cash flow to be breakeven to slightly negative as we work through the 37 recovery. All things considered, we feel good about what's in front of us. And we remain on track to achieve our long-term guidance, including $10 billion of free cash flow in the '25, '26 time frame. With that, I'll turn i”