Scott Donnelly

“Let me just start with yesterday's announcement. I'm sure you've all read by now that yesterday, we elected Lisa Atherton to become our new President and CEO, effective at the beginning of January.”

“Overall, revenues were up 5%, led by Bell, partially offset by lower revenues in industrial. During the quarter, aviation delivered 31 jets and 30 commercial turboprops compared to 36 jets and 20 commercial turboprops in last year's first quarter.”

“The results for 2024 were affected by a work stoppage in Aviation and challenging conditions in our Industrial segment. During the quarter, Aviation reached an agreement with IAM on a new five-year contract.”

“During the quarter, Aviation experienced a strike on the expiration of its existing labor agreement with the IAM. The work stoppage caused disruption to our aircraft production and service in our Wichita facilities.”

“Aviation has higher segment revenues of $1.5 billion, generating a profit of $195 million, up $24 million from the second quarter of 2023. We delivered 44 commercial turboprops, up from 37 last year and 42 jets down from 44 in last year's second quarter, while aftermarket revenues grew 13%.”