our everyone, humbled employees I Board all morning, that last to share I and want to how by their this I'd like for to world-class the me Greg. And thank opportunity RTX start am good lead you, has contributions given Well, thanking year. team.
continue will portfolio be we've driving record meet announced. couple operational accelerating As like backlog, we across I'd the changes our innovation customer delivering other expectations. our of to acknowledge a on leadership to to focus recently forward, move and and shareholder also our performance
I'd Wes for the company he significant First, contributions his like into thank to Kremer retirement. to as transitions
in development allies. the Over year. of his the years integrating transformation Raytheon's in XX-year deep unit their lead and him Raytheon. experience career homeland With RTX's and this customers business experience of systems a to his business LTAMS, the as positions well a Wes successful of aerospace role defense our the military missile our defend Missile led over battle many brings been has defense restructuring Phil led the of Raytheon of needs role range leading Wes programs, Phil better solutions most also most business, connected course has here, President X, and align his Wes' the has in initiatives of Raytheon with knowledge past appointed customers. priorities, to Collins that of XX critical the throughout with career Phil's of Standard recently him he a played Mission Jasper including critical played Systems and and business. strategic where some retirement, our
update of highlights Now on me end year, the the an cover I before let markets. our get into
year. systems. levels, cases, solid surpassed above we XXXX commercial our The Starting air past to stronger. aero, strong in levels threat pre-pandemic especially travel and products narrow-body exited and foremost, the XXXX been back both global returned global and driving helped to, wide-body has commercial and with the aerospace in services and both aftermarket environment demand in demand, into now miles never as year, to some saw travel and growth for and domestic air air expected is has with has aircraft, First demand traffic continue recovery passenger XXXX. drive X% significant Air defense growth we this for defense revenue levels with unprecedented
a in On $XX increases billion the now global $X spending from year defense have side, led which backlog, defense a to ago. up billion, is at
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in XXXX, exceeded commercial let more provide Slide basis, year our were X%. delivered up up that, year, On we some And start our ended flow, billion commercial and with up full of which adjusted cash the We full free EPS with up $XX.X of organically, to the adjusted in outlook. aftermarket and me XX% up and of XX%, X, was X% OE also sales a was importantly, With ahead $X.X $X.XX XX% on year commitment. turn was an which billion of was year-over-year, defense the for I'll highlights. both update
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Let our me to now plans. industrial turn
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average that respect With the to number to roughly previously XXX we guided. AOGs, we continue of expect on the
likely our than due However, customers. AD fleet a previously will we timing peak by lower the see level of to management proactive and issuance anticipated the
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& Both just operational execute a what call, our the lastly, comment and Whitney Pratt on continue consistent those fleets. plans. we on financial we on to with prior remaining the discussed remain outlook And
performance. now shift Raytheon's I'll to
fixed-price challenges have programs attributable the We continued continue previously supply development headwinds to headwinds. chain as as we productivity that discussed experience operational profitability business, primarily to well by within and legacy driven
some are, scale creating in business, note particular, in providing our product to Raytheon's by in families color our and are around important issues. we of it's start where fact, our parts legacy several certain productivity And in that me on achieving that in awards Let we've factories productivity chain. successive received supply
product XX% work uptime For to example, by increased all or test and output time, system without equipment cycle CORE year-over-year we additional by GMT reduce instructions, using manpower. our increased refine capital
productivity phase. risks and technical retire more contracts, our programs when our recognized also in We which we on successfully is in the production gains frequent schedule
came In delinquencies, and have the XX% on from by costs extending period unfavorable productivity development gains those in of unfavorable XX% overcome However, price by well of driven which cases. headwind in XXXX, of the areas. about have supplier as the effect this fixed performance as programs, other several was remaining material had been challenges
doing consists in few certain programs improvement So development growth of we satisfy our deliver and we One, technical a Our milestones. plan it? price programmatic performance what stabilize and profitable are to current the as expect about elements. fixed we
also winning work modifications making disciplined our about we moving in and forward. be the to selective will are Two, work. more we We new approach pursue
help in were play chain indirect This Overall, ensure to us to through, lots experienced take and supplier our trajectory time we supply of here the continue XXXX improved we have some up headwinds better and this continue X% some we in XXXX. on performance additional will margin drive will protection new contractual we Three, us actions improve continue that and and profile. continue our XXXX, inflation. contracts that 'XX. receipts We Fourth, we to will from that expect material help need but to material our take avoid cost flow. in to
structure position will this indirect overhead of and optimized earlier instance, for profitable units business consolidating growth. by month. costs and we business This the our and better streamlining Raytheon's For realigned sub-business further several reduce
some FMS and DCS. more tailwind into programs the mix And of lastly, from a that refreshes will towards sales in production be technical our there shift shifts as move development mix and our business and comes
lot obviously But there's and has portfolio. work with product to foundation business a its do. starts this a So it strong of
we As that challenges that team are need. I said focused the the Raytheon's confident Phil and margins earlier, backlog incredibly record for addressing products and demand at this I'm strong, is and delivering on the these
to let over Neil quarter With to results. turn that, me through our take you fourth it
