our very quarter conference you Matt our – much, this usual, operator. fourth Park’s Farabaugh, published announced We to everybody CFO. release call. course, earlier morning. Welcome of Thank earnings With as me
you guess out, you haven’t access In the do want as instructions it there release, presentation. earnings are checked to if to that. So, the how I
to presentation. go about We’re through our
but in in to front it find our information to but free on get as on Appendix-X there to going that want this questions that’s be Without we presentation used you, is for you the so You financial about more long, also to it, can do access attached Also, you might make of feel presentations for but these you like that website, little order front anymore, it. in meaningful. that are really confusing. it a a Matt supplemental any call us, ask don’t to presentation. read the of presentation that
call select We would every to mention are we of XX next almost then, feeling for probably do These not actually, maybe as cover understanding that now we’re lengthy is. and and on know, we’ll this the The be able interest something of could presentations think every that kind helpful to You what call We go then you cover we in everything. our best need with company. to to you and we call minutes. can else.
or you with done presentation ask you I you can it either about to as not presentation everything. in questions and really to it’s the will much Park I we’re mean presentation. allow We’ll over keep the the to about to say that’s When you presentation, the time want anything we generally possible call, – cover So see, as for can’t the it any you XX want minutes. When I back turn and try then not questions-and-answers.
and get so Any this, is very turn we’ll Okay, Slide our is a on, longer X know. Slide Slide to X. questions why X, bit and language. disclaimer don’t we little us let a when of And X, just Slide just started. ahead lot take on stuff busy. go Slide this X about we forward-looking going
by So, why the top start don’t of for and – fiscal take the three line looking we year, one, look a XXXX two, quarters at four.
point, is with line. talked can this on downturn discussed the now, at destocking right the what’s some I ablative obviously a little about want systems, commercial bit QX. in about going upon based come quarter, prior significant also for I and maybe and in rockets, that remind see component think back for in we start You missile aerospace you to relates something to we the essential this right last product quarter our But
So remember how this essential sourced overseas. an component works, that’s it is
supplier. have relationship the with We the
to programs. essential It’s have the stockpile OEMs buy product that are to about just to concerned and without couldn’t They made component. that then missile asked it a this. component. critical So, are These it. component The be an them sell us safe of
our line. reasons. small at composite ablative our expectation materials, line, component to that for with a a it they the never produce we top product sell We and and We we This programs. can to that. it sell to we I and do with we component, say it shouldn’t to I use do also significant want owned it the It but the to will for missile bottom these of materials markup. they customer, back this what the their they – ablative So buy rocket that it’s is affects OEM, back, is guess, the sell it begin couple
So high. The are small. for the quite material content are sales margins these quite
background. that the sales wanted of component you QX, sorry, know we remind had and million In in – we $X we of just I $X.X remember you that to So, in and predicted QX, of of sales approximately that. QX, million for those had
I so shouldn’t the of you, just did it we to of to but a be think surprise our I does call, kind QX want because you remind affect it that numbers.
QX, through fiscal quarter, of the go million current sales. let’s $XX.XXX XXXX QX, So,
of were we the $X.XXX million. up, low is below numbers let – don’t but me margins. it it it moving like through Gross like million margin that can that. that sales We Gross XX%, a see component $X.X in number, like is don’t You well, put when XX%. we’d of profit – critical which different it
this about It essential adjusted That’s EBITDA came and we’re not that X.X% a component, actually surprised by forced in math. are just so quite the the that actually. gross component, the at margins with because margins we in actually We’re That’s that surprised critical exactly $X.XXX came that. the don’t million. do low, XX% number,
a little surprised that. about we’re So, bit
numbers. about Let philosophy more you forecast our remind discussion the me we the into go about before
happen. know is telling that. going going what of forecast, it. your We what happen. So, of largest of to We working we happen. that’s know, be something, other and a are low everything hard upon we do going telling you but wasting think we’re don’t We lots happen, silly. make very We it telling not need companies we We – to we’re tell give do what to think could think you we a what kind we’re to telling kind beat don’t we based I all to you when we’re that, you you time think happen If to is you we wrong, give it’s think but to alike. you number going think is to do we is
So, right. all
estimate million. okay, came little said So maybe within $XX let’s talk in we we call? that did was sales but during that that still with problem. to conference let’s What to range, mind, the did $XX.X QX up – say what QX in happen no QX. about higher-end, in million within about our We range, Well,
to estimate in We also million. said we at the $X.X Well, million $X.XXX adjusted came $X.X million. was EBITDA
bit So, the range. happened not those estimate just properly What of top ablative are that our said, do of good QX about don’t programs. These happen. not our be materials margins things. was – don’t We on talking did thought capture margins. quite was did to in zero. missile the and going the just products. the to I’m for not we fully could was Very on doing low give above we That’s sales rocket not of not That’s component. what didn’t essential No, for something ablative number. way capture just a We that, we This us. you and margin we as I we a
this see, with kind special on the page, to on me this I of anything another items, if Let numbers, go don’t item no, to But down, deal else okay. think cover so. big page there’s
Well, nevertheless, company, in see a You to success, which facility, marketing. Singapore before you say was reason much I thing got course, aerospace for was, business – time that – the key that a pioneer and electronics, going included operation This special at we was operation. at material very entity it of the in around but we be largest didn’t our plant managed bottom, a separate related million know, Singapore is a get the was a sales, successful wouldn’t XXXX. is and that. in it entity, in never used the to materials of Asian there into is the our the says to $X.XXX operated be was in composite electronics and plant. it I we QX, This of facility, our was our plant, would Singapore In entity. as a composite and This items. – it part in team, facility Singapore we item wasn’t very Singapore our is were aerospace. December okay, time. its terms much our something plant sold It say opened of our which was special big AGC it great but we going part Group just to We but that Singapore whatever our a very Electronics going Singapore was so entirety, Singapore was it XXXX of was call not by then
wasn’t Why Pioneer want to entity, was Now separate it. entity, this it and said I it Because didn’t a want did plant, owned it of the by AGC Singapore as but into another the dropped plant not is that? buy pioneer part we separated they entity Park.
me is need thought in need to together. away away, able we sale when well because in we’ll think we a they lot really, level have still plant right company. and discussion, couple almost with hopes We’ve point been on at just an their not working a of actually our COVID team So know you get discussions, to and it are we COVID – to correspondence level, for didn’t JV this we level would mothballed a and didn’t that questions XXXX didn’t didn’t we possible think the serious, used this answers, mothballed had still this phone it really next we have write to to said, preliminary without so have keep the We it. I operate to off ability we travel kept be they AGC, it it. fine, this We in JV. needs right had right of restrictions, we away JV why I quarter. plant with Asian doing people, not has get have of forth, but aerospace and the almost and and is that executive are maybe but been don’t back and spend to come we discussions okay, it we this did we Singapore our be Asian also while while. talking to that could We’ve had has Remember been to for Asia – us discussed we a we talking it. in that’s to that? Kansas, with some a we’re for might and our together been be discussions not about because about of get would about been large order and some These are and friend do high because company an use it days it in able I we’ve say every anymore,
So, whole it this thing. really sidetracked
don’t in discussions. I mean at to you telling dormant that it’s – all. not still you We’re want – active I don’t I want tell I’m to
next or level. that we’re until like the not kind kind able We’re mean to on emails I phone still together, in a I of of like probably feel to weekly get but discussions, it’s active calls, get basis, going thing, to
we So, facility to JV. did because do gone while and it’s for a clear not on thing in this time if why has use a JV, decide even that write-off we this this a we’d
decided we and the at this think time I writedown that’s to the assets right So, decision.
it thoughtful and think decision. the I right was prudent
of benefit are now pre-tax Just per in and case you know that we’ve by $XX,XXX positive the interested, some you’re if is facilities costs year the about much $XXX,XXX an only the not EBITDA depreciation. off why, benefit because impact of written
there So we you just – just be operate just background. I for this to after we write-down, the to continue no didn’t there’s have of think we It release, didn’t wanted aware mean, operate in – you AGC, Electronics a ability sold the because wasn’t reference that of plant way have of to the to it kind to us. I this news know to to kind was wanted I but
was the but and the it right inevitable, So of don’t maybe made think on kind right decision we the we Slide X. and go was it timing. decision to Why I
more little history our a XXXX with Just results. here
see XXXX. can kind XXXX growth the XXXX, nice oops, XXXX, and top-line XXXX, You of
the Of aircraft effects of and that’s talk commercial course, no industry downturn we news that the flash destocking about sometimes. here,
on AAE or structural program Aerospace, to Slide every we and Top the have almost the material Okay, the customer. on presentation MKXXX to each actually. that’s do, of a components this think customers, this we supply of our It’s sometimes structural rocket, fun why the picture kind we we This thing X is for don’t bottom I warhead. move picture left the not X, and a components. something actually little is
Kratos [ph] and on we radome Multiband quite Terminal Radant, CPI program. that’s the about right, middle, it’s Valkyrie. in MKX the bottom materials top bit, over that here the see, we the supply Kratos, into Navy a talk Let’s
launching this I think of is drone their Kratos a of main you drone. we’ve Baby what and launching believe material call the Kratos told Kind that’s composite a material the picture we they supplier we’re for programs supplier, Drone. drone all interesting, a a to
that. about So, how
think first delivery couple in of actually of production I Valkyrie said they the expect the a Kratos months.
that picture it’s in Middle our left for think of you was top and them. Engineering Turkish to owned all nice Top will aircraft, and terminology. was be Aerospace. I have part GE X, their that a not and company which contractor Aerospace, ST about by XXX-X the River we that’s on know there’s them a Aviation, now – often are Aerospace, They have Sirkosky a
So you provide Sikorsky of the a a Sikorsky for helicopter materials bottom structures helicopters. right have we for the picture the on and
we don’t These X. why go on find interesting. Slide pie Okay, I very to charts
XX% XXXX just about at total look math, million in revenue, $XX in is million. the Let’s military do $XX
a obviously lot percentage about $XX.XX absolute quite $XX.X and the less, you but fiscal actually where is about have military the million. Now, military a revenue was grown XX% million, bit, the has number only XXXX total
So year least focus decided XXXX, of includes I’m saying million we – military which it and that for do rocket we a $XX.XX called need quite results of to essential happy completely, about we’ve to the is we’re for sale not remember component achieved the what Remember, better, that at and ablatives but ago also programs. results we to from that just nice. XXXX some grew on a with bit
mind. So just in keep that
math, apparently. was $XX Looking fiscal at doing aerospace the in of commercial looks that’s $XX and all. in the like XXXX, portion just pie, million the million XXXX It
isn’t a entertaining programs, but with you. thought our don’t of try quarter, This downturn that Elaina commercial every and to bit slide do aerospace. our kind we necessarily X. fun we together, this come little things So up Don make go this on to fun are put Slide in we we Why biggest is want a interesting. – and for bit This obviously and quite of to they
not up So, it’s launched long-range is been a we B-XB, try the that’s program, to it’s come left B-XB. cool there the programs, the military LRASM, but missile some with programs. Top B-XB to by anti-ship
materials XXX know go Eagle, XX losses. ablative program. nozzle to The produce F-XX are that rocket this So, defense materials is in parts wins, means? Aster we for into using combat. Park you zero, missile, XXX, material, that program. that The those what air Avio XXX that zero do
of Radomes the structures the materials we where fair big, even have F-XX materials pie are chart. we produce of JSTARS parts radomes Nozzles as us. the we see and big, but So have interesting segment for and Kind are for it’s still and for parts really big. not cover Rocket not we some to big, are drones important
we X Got why cover going. here. Slide a don’t lot keep Okay, okay. to
our military talked we love about programs. So, we
we fairness, say, in just to aircraft So love our also we commercial programs. need
commercial. to got to equal We’re give time
a covered kind of we’ve slide. This So, this. is review
direct So recovered to call. the to hub-and-spoke single-aisle. fly if trend wide-body, you our wanted pandemic, but ways travel than domestic rather story even know think a domestic, some there take is because been for has wide-body. it’s more was off, listening probably a recovered clear recovering, for aviation the – you’ve for It to extent. actually International a of now before domestic, the to Single-aisle has system, was people versus international going the so single-aisle
single-aisle you programs. So, to major want commercial three in if single-aisle. view aircraft, be at now, There are you be to least want our a
happy, to but in do We’re to those well the program. on. Hopefully to AXXXneo MAX. and XXX on We wish future, two three. program very happy Comac offense the we’re will you of it it are be in really be two think also want the the the well. We the No
say, by boxes want the are in we if and be think you of we partly we those to three in check. we do, checked our the want ideally think boxes industry. we’re which two to we single-aisle, and we So, aircraft commercial two That’s luck opinion positioned
we’re positioned. by of I say partly well saying mostly to would kind very by luck ourselves think we’re being that I nice luck. by just
quickly aviation ago concerns less more were efficient prices for fuel the A new was legacy and replace fuel motivation such aircraft. kind more to Higher modern Slide of prices with abyss saying aircraft, year an certainly provide AXXX we’re as environmental the the the aircraft So an jet abyss. X, fuel commercial extra airlines more down efficient from and that’s impediment the for fuel-efficient fuel aircraft and new family. emerging
even higher prices build prices fuel concerns Now, very the high. low, more are recovered of concerning. domestic single-aisle. but they greater ask. provide fuel a are of you for for for not positive are pre-COVID domestic lot depending prices a course. positive efficient so the full airlines whether place in good, levels, to or fuel-efficient domestic U.S. has recovery very Very who expecting little XXXX. fuel extra aircraft environmental aviation It’s like to are levels. They pre-COVID recovered economic a incentive aviation, in a are single-aisle. That’s China The on high XX%
Just in news of you optimism a Nobody’s that very interesting don’t of domestic the what going think and don’t airlines to say, but that that’s buy from the people the possible. pessimism Very new start said, saw aviation announced but at I the this. domestic programs, an buy, U.S. to they good market. still don’t a just sign for ever not they’re but it, good ago year Park single-aisle, on if U.S. little U.S. is recently was an time. by maybe plan airline to know Two airplanes, I anecdote, kind they launching from plan
We review every the Let’s slide much go into Slide XX. pretty This a is quarter. provide also slide.
of Systems Aerostructure or I think requirements XXXX MRAS, Middle the XXXX, started that’s through we Engineering Aerospace. first have in LTA’s, River subsidiary a item, ST contract, a the it’s
Because GE Engineering of subsidiary these GE are GE the ST a River, MRAS Why was talking all and GE Aviation we Aviation Aviation? Why ago programs what’s I Aerospace. to programs? connection? years were about think two Middle So, sold are
so GE was used they the structures. nacelle MRAS, part which programs So, are programs GE Aviation programs, structures Aviation GE legacy for and thrust all are Aviation reverser
whole connection redundant that when done, but we’ll we’ll that? are we’ll said, next composite okay, Boeing AXXXneo MRAS go build regional Comac Why first supplier. nacelles LTA those later. a that qualify items, now thrust a is ahead we Bombardier for the XXX, long, long, and we that’s engine So MRAS, We’ll the Comac source Redundant XXX-X, material we a reversers about about for XXXX. composite that’s doing long, talk programs, the ARJ-XX, with airplanes which the up takes little and from Factory, just family It of LEAP-XA five It’s sole the for and there. that multiple China item, signed time jet engines, factory. materials to long a with long, Global
see these that if problem crisis is to our it’s happened you plant, all actually aircraft immediately major the So, something almost here programs. for a one
and and there internal XXX I right mean that. So structures are structures it’s signing the was factory thrust not. because Aviation are gives not people I actually is well it all look of perspective nacelles, at say. some they love I on fixed should handshake, very It GE you there right, legendary also was huge. Picture for of we LTA. redundant these nacelles, background picture those engines. nacelles we That’s Passport whether the we understandable build of kind materials, as XXX-X did MRAS to the supply for as and proper not part quickly, asked reverser actually our just Boeing or a produce it nacelles I our part Park XX and a these Top the through their the word us of That’s think LTA still are of and for this the Boeing we only that component but us one contractors. a a of
here. Let’s to We’ll go time ahead Slide on XX. do pushing a
let’s specific Aviation so Okay, update on these do programs. GE an
of we sales. are family not talked some added deal. By the That’s AXXX part AXXXneo the but about So family. much way, the there
would our of part engines LEAP-XA those family meaning in the here. and use LEAP-XA that’s So engines, the say uses it’s ramp program. that they mode Definitely I the when
XX, family and XX also want remember from industry to the month QX, aircraft at aircraft some gossip if to family Airbus This XX a family have know Airbus per of of production month Just of they I math. March. is on. like Pratt is AXXXneo stuff. neo do XX This information, this, plans don’t engines. just two the kind have rate that the delivered in is if is program increase we’re not I which in is aircraft, opinions from doing That’s engine. per engine. Airbus. or in per currently month analysts of LEAP-XA QX AXXX about some One you you, They that the to
each engines. airlplane Now, is two
your remember you to got You doing that math. when are
engine engines CFM. telling what’s not about don’t is going LEAP-XA firm says family I I’m for you for share if is joint future, May at of of venture LEAP-XA that of has the AXXXneo FYI, it which and in between know, engines the look addition orders okay. all to Safran but news, the Just CFM you which aero XX% happen aircraft, of GE a the market the
the it XX% So, about share. saying like math. don’t will doing know market not I’m the if least current at future in you happen situation. that, we That’s
it that of Think XX%. but engines, way. two So
Let’s keep going.
that QX pronounce correctly. I’m – going the Airbus can you CEO, name, important, name Airbus call try Now to investor I during pretty it’s XX, probably this think is I’m not on but his XXXX, pronouncing Faury first April his and not Mr.
chain call that aircraft. production of the ramp-up. about determine steep single-aisle has a chain supply of possible a the single-aisle there ramp-up scenarios means reasonably the is XXXX their Sorry XXXX fastest ramp-up He AXXXneo commented That’s his Airbus can the family aircraft. that, Steep support. will the lot quote ramp-up. in and XXXX That This and to stated for steep friends, to also XXXX. French be supply of and provided during aircraft quote, for
now the AXXXneo push chain of optimistic. trying rate as supply They’re the possible to from these on are going here? to very guys to important they’re up out as and can what So, really the what’s trying get thing support, understand. perspective, figure You much my
the this XX, Slide AXXXneo the story. part that engine. that’s is using the so family. AXXXXLR LEAP-XA AXXXneo Okay, news, still family of on
test first test aircraft nearing flight First assembly. aircraft nearing – final
entering even this electronics tomorrow the expect not old XXXX. In to a in an range, expected and very timeframes, have would they have that these mean holds Boeing and flight because and be the the aircraft like announced is service guess XX be Boeing lot a for two I and replace is in game-changer, many does it years they answer is corner this in hasn’t in this don’t an and thing of years to really being two First bit XX, considering an the in many aircraft to the answer aircraft. will and Certification is for wide-bodies days Boeing little around airplane for yet. but it, significant kind that’s would of need problem XXXX. forever, opinion, be theory sold the is for missions in which the be Boeing I XLR answer people do a that key my missions, going to is production this at the reportedly least XLR. it
first, be a new With usually mean about, to I to always, rule always it’s but So I not general the of what no talking category, be maybe first. be kind it’s the timeframe but good into to be I future. good idea airplane have think they’ll going is,
see just on a – AXXX XX, well, Park. on I important could really anyway be of think important but the program so – go for to family, program Park, for the on XLR, part this really Let’s
Global to the XXXX. go XX, Slide Let’s
by well airplane for up. XX, ramp their made regional production up, ramping in it of XXX for most market in a up. engines. and us. unit. Slide news recently It’s It’s It’s China now. They’re I Comac production Comac. in the the jet. is good LEAP-XC with is mode, ramping for think XXth production, which the airplane ramping really they Chinese is and a This This in ARJ-XX. doing sold Comac
know Comac some think real certify of other this is it’s their to a I and XXXX I So big single-aisle updates date see Airbus attempt That’s before I so of guess airplane begin on and is has they XXX intend any this player see after MAX don’t and deliveries to correct whether that, haven’t not. Park. it’s end indicated their I or is This happens. AXXX. we’ll a that, the aircraft the or here. This XXXX. what right in year, This but whether answer program this commercial to very a potential is for you be aerospace. picture heard
a production be real I as I outside to Queen XXX-X. like terminate the for know of have are inside it will they’d big. suspect Queen in Boeing suspect believe live the domestic eventually they some to going announced single-aisle, of you left it’s going XXX-X, the but to Boeing this of fondness the So originally I I sell Remember, Skies XXXX, XX orders China. China. to fill. aviation Long sell
on first was is One with that for the thing the of a things makes sentimental XXX-X. program us got the real it GE we Aviation
XX at pretty o’clock night, day exciting a these shipment actually. about XXXX XX Park first for for was of kind February Our [ph], was programs
this. a knew gears about land. So the Anchorage the XX. I the we XXX. actually I down have this special took airplane fondness at personally airport. to you for Slide picture This see
revisited. review, commercial year So aerospace in armageddon
parked these by these pictures. ghost airplanes thousands. nice towns. So Airline Donna about you did job the all with real know terminals were a
was matter again of aircraft it the aerospace and I and that MRAS see lot the doesn’t heard be just on commercial commentators calls we Aviation to That’s critical that just for it two the maybe If were interviewed about. over, people buy not commercial not self-fulfilling recovery completely lots flights many There talking industry of at on know and this becomes during of plane. did ability listen employees an production at people We negative gloom at way, industries. least. Park, thing the because is you covered and not only armageddon. end years people of throughout a like to we XX, guess TV when buy and doom it, preserve to maybe made aircraft empty. baseline, airplanes aviation Slide commercial about end of prophecy. may maybe with the commercial needed. as weren’t We Almost get or come either good a maintain they’re full a the analysts a very that minimum Park’s predicted past. hand thing production will and pictures I stuff. not Thousands analysts commentators you’ve there, it’s canceled. the a news Thousands you were really to flying industry but almost of almost, won’t thousands to come, never all was but arrangements at about negative, industry laid levels think ramp-up mass days, monthly and all We did last that days couple off of
– did, we’re to didn’t below if production very type prior going want back and go listen we we we allow levels product this. was know. make anything, you mass I important knew up need know the to to for didn’t we Park about nobody of we a We guess our to MRAS the So because day. it we one calls, this, had did ramp but critical know to of our lot you for MRAS of but – didn’t we believe that
minimum baseline All about didn’t commentators coming What an market, to, pervasive and call because in – and hopeless laid of now, another try if frightened to that to them last weren’t companies to on ramping of doing, build layoffs This and shoe turns happened, minimums the the world fine, $XXX,XXX them inventory support because A XX. we know did so up, under critically over, it that drop, that same month to people then to weren’t to we was not the of days, off is the needed production like with it did everybody end going people have do They be minimum we were half XX. market and anything, not on. out you and you the not with. weren’t none mass which amount We I critical go the about about wouldn’t intimidated, and not then but these that knew with rehire zero. through they’re we these we inventory to production maintained turns the which not to is is talking up analysts to as requirements selling kind to commentators, talking approximately to important the fair. kind continuing was off end from all we begin ended for to you, of said at during year current our widespread and Even past. anything, level Listening analysts they down said, about terms back, going oh thing because the though of market. QX days Everybody $XXX,XXX per to month, then a $XXX,XXX Inventory off, was Park and we QX is be it starting not to talking the the of commercial that, and QX, other all much. I were like about mismatch what July. industry, what so going drop, know, was the MRAS have a to GE afraid of nobody, the only help about basically between were are decision just Park of sales was investor approximately a below aerospace never we’re seemingly lay to go but going we darkest lot through then. were go market, of significant back monthly destocking. agreed at not right didn’t know. all I’m out calls Airbus the We lot doing I’m people destocked there Slide commercial discussed the and is to reason thing, we but the divergence of thing, times say? TV because our theme. going now people know, producing industry. length being the $XXX,XXX amounts all it’s spoke units our to they XX, and for you end. willing not many So always wasn’t it them very let it were letting A analysts, to programs the laying buy stay people aircraft it’s guys in said go don’t People could so
you was We to how long, The know I unless going creative kind mathematically was market but have sustainable, not it mean that a negative can number, I don’t you step can’t unsustainable. the end whose are accounting guess. the opinion. ramp was was dramatic which unchanged. down. coming. it except mismatch. aircraft Destocking how told unless involve of divergence you The sustain of This Park very came. long be You took reckoning All in the our GE another are on day rates ended. is Aviation has that. programs for Well, mode, XXX a We
This to ramp did Slide is go just quarter. we update is and from the steep. Let’s an looking slide the last XX
Calendar sales of six For middle $XXX,XXX $XX minimum, a but now, months XXXX, about talk that XXXX, is $XXX,XXX – because times $XX.X calendar year you a XXXX, Aviation just maybe $XX.X periods years program million. $XXX,XXX, calendar $X these perspective, last the XX year were, but you year to normally that kind to but oops, it, year if of $XXX,XXX that’s run mention million. million, million following want range $XX GE million, rate, think about of calendar was are fiscal that the for periods,
makes kind that So of sense.
million a of last running we’re XXXX. during half the calendar $XX rate So
This you, it a does don’t see have done was up? know. I What forecast up. Is sales Aviation is million. calendar, we forecast it not Okay, What We’ll customer, time XXXX. year it happened? received calendar program $XX year you. Calendar we for is based to $XX.X forecast recently from moved new Last moving upon GE to mean? about. million. Well, the still it to talked
just We’re telling you the forecast we received.
be Our $XX when on a period million is. we’ll this fiscal done a year a steep the to but just forecast is we a to to of in what rate rate month. perspective provide $XX.X give like the ramp basis. Normally, how give you you ranges million will forecast,
a hit continuing mode. So XX, that’s Slide perspective. ramp the we’re mode into
important. addition, really we’ve written, In this is
of recently The or won’t updated pricing XXXX was through we past received LTA, The updated for obviously firm an is just XXXX. In Well, long-term This XXXX addition, now that not GE XXXX. in This we in of forecast. is balance Aviation. forecast XXXX to past. is a remember XXXX the terms XXXX forecast. the the
are forecast calendar something Aviation is basis, an updated XXXX forecast, XXXX here GE apples-to-apples forecasted period sales So same period. GE from program key. really that pre-COVID that very the On program to Aviation similar to sales total year the the total for for
to back basically we That’s updated How think forecast pre-COVID. received. told forecast before. is the where this We’re were you constructed? we Okay, the we I
units. how We type price know much what used, the know what are the material is We what materials. materials giving is selling is unit. by – material We of used for
spreadsheets, there. but detailed from a very that’s it long-term forecast, big build lots it. We we lots of build detail, just we build So how and
XLR But capture I just we a say be the is the not because of of ramp. would two because XXXX not there. big is mean question. it, long-term kind opinion? of bump The didn’t that out aircraft other manufacturing of comments that reason I received is said don’t forecast fully the couple CEO to is that deal ramp-up the fully just went chain commercial big supply capture how we’re a chain opportunities they saying the figure the of steep those ago. family may predicted the see Remember the so forecast and lot equation that support. to sales the supply really forecast in Airbus and wondering about we in a going chain I XLR can after people production think what about side things. and AXXXneo the a a CEO may be some the talking XLR. by it’s steep just forecast that important upside Our to came which the think maybe introduction the then long-term don’t We I’m to we’re Airbus think question, we the now respond tied but also there to out capture forecast, the say we aerospace the weeks guess these the opinion is, will supply the my, updated That’s
count to pulling guess. in I responding our XX, two different currently So directions are, XXX. Park’s Well, the is it’s kind different there’s people. of Slide all ramp-up, how people about things we so that are
last we people. hire XX to quarter it told and the Remember, XXX what So happened here? heck was XX, plan we you
where So our haven’t increased are We people. people? those
stay maybe So why? getting are Well, paid people home. to
news, who but people. can’t much that the So on the The reopen, stay It’s these people. news hire that they about home, to those It’s up, hear is We helping? just don’t companies paying too all terrible. them can’t government’s helping are people. can’t about financial – ramp really really
a little bit. think may you are to that want about So These people.
they mush getting Some home losing turning edge. of them mind to you They for fat, Their now know. maybe, haven’t a year. are are worked is their
a don’t maybe too, it’s the for wasted So souls. the A people of not which know. now. destroyed, least that’s if off souls go Look, can these year? not What it’s some to lives people people part businesses, you Their again, about few are them, being maybe at some of I about ability back but appreciate They may and are them? to fine. They reopen are broken that. of funny, always work ever. these the Some you’re have are of weeks, discussion,
those care by they people. helped it. very an it’s think helped them, point, but we’ll opinion worry that’s don’t being is good have being us, of nobody Are not a but take about who’s about this? and I about I why thinking you
a has done our don’t organizing people Park’s done. of we’re kind about magnificent One stepping the not get job Corey to talk meet job Slide able That’s We that usual, disappointing ramp-up. As the so in done. XX. the customers. of another, up, job getting we’ll vocabulary. way or workforce a
lay current XX%, the X%. because program, not job very, things program Total to talked downturn industry, and back. us would detail. now categories our with four, in a to keep anybody customer is incredibly got just very It little need helping as a there. lot, flexibility They’re so a helped five it darker participation during this we going, This aircraft people for to. the the we be all XX%; done. anybody customer days job in this off responding. respond XX%; the commercial the to it’s Without flexibility we godsend. customer two we XX%. Thank more off categories, Thank laying flexibility So have to We didn’t flexibility much goodness up of incredible job hire didn’t how program. are three, get just about difficult goodness XX%; We’ve
great very fortunate Our in reason are thank and get team the has. people for how is goodness people Those great the there. reason, just things. believe That’s them, we done. just only about the people. think letting other precious people able Park’s blessed don’t to is not have the go. That’s would not we and and Park is the be it Without we not job to reason
more Aviation Aviation we than XX, XX history estimates. on on are go to program how sales doing GE minutes. Let’s time? program, forecast GE Maybe and Slide
the part is $X.X with. which you’re million. was QX of top history, familiar the it So
less I think call. much we Total during that’s and that’s look for pretty predicted where QX our XXXX. million $XX.X
which fiscal it’s think shock less is of not say a would Sorry, don’t XXXX. to XXXX, anybody. fiscal I year big half than I
QX pretty million $X.X $X and to that’s million Our to much million. forecast, $X.X million booked. QX $X
support up. little itself in just up, that year to to could means on the equation is always talked then ramp Mr. I and Well, is Faury the I the CEO talking if fiscal ramp the meet million, guess know, any Airbus we right? part a it can said, down and up $XX million the AXXX happens be, supply other that what us, but that the of with is supply not not chain $XX For side it what able the about that of about this slowed bit. depends ramp part I’m maybe the chain don’t
picture departing So the again of Anchorage. XXX-X a
a see of the So you XXX-X. lot of pictures
picture I get and I the CEO, love As authority the XXX-X.
asked the the airplane revenue $X but us for biggest So even pictures per our million love of program, actually of not the I in just though love than about this, airplane. presentation, putting I less somebody it’s it’s year.
it’s sentimental programs not bigger Aviation. it us, even value So a the of for one though has for very GE
little I want aware you are programs So it forecast ended. being the but we for be have XX, you. of here a just you to seeing Slide
the is top box First history.
So we an on just for perspective, the history, slide. the earlier covered history
essential you, million broken about of mind. in component QX, $X million remind just to $X.X kind about is that here, for year XXXX programs. record Just stuff missile to last This keep QX that in
to go let’s our forecast. Now
while. forecast haven’t for a three-ish forecast gave-ish Well, a four-ish. given We or we like
back We forecast. a to a better. We’re to a trying think little give you there’s we feel of still bit but lot uncertainty,
we that sales a providing to again but as That’s $XX.X $XX.X you million those essential component of we’re forecast. sales we million. and than see, with $X.X $X.X don’t EBITDA. – can QX So QX million of less million have don’t to you
So back there. we’re getting up
know QX, is not in we’re something you Just sure this about.
bit week a do test over forecast, and We predicting sustainable. QX gross saying should have – we’re I’m quite not we forecasts, we be our XX%. but margins every P&Ls in that’s the
a it’s adjusted at going we’re looking If seeing little EBITDA look we’re but up down are QX, bit. you at interesting, because the the revenues
the in that’s lot remember a of essential to line. our mix to Since it’s stuff bottom record military, quarter-to-quarter, First doing changes of million low very QX, going the more we’re all, mix affect there’s but we’re and the going hard just but sales margins, have changes. quarter-to-quarter it’s broken $X component
up is is programs that’s Aviation quarter-to-quarter. lot GE and from a be this going the it will that is. one be more EBITDA quarter of really know no will business and of it of our and one quarter Military, mix and With more it what change, there to you down
million revenue, For year, million $XX $XX looking million the at $XX.X to to EBITDA. $XX.X million
so better bit XXXX we’re and fiscal of be there we’re of EBITDA, $XX a it’s think of the the saying revenue year, part back million may presentation million kind prior with $XX in I than that.
I the very on, like our forecast be hire many is Park $XX,XXX eight per desire a this taken and of up. mention, hire covered our some based think anything couple jobs, given of to expensive, when give later that nine with we’ve maybe going forecast, in now hard, are [indiscernible] cost working could we a course working hard. not want or what involved do person. over is told but people earlier to we’re we very a times. into like so to you entry not or looking haven’t just there’s this people, we This to additional I level walk upon, you We’ll people, things maybe they’re wrong, you we’re these people, So but doing real account we happen is and and but still we’re When saying,
is there’s material concern. start-up, be plant start-up. costs some are going plant in going inflation New up. costs mean Raw quite to involved new a I
it’s prices of myself with so So our know we going into what’s of like as what price interest it’s LTA time often to where inflation, good if not managed, thinking couldn’t and going the and from going say, normally spend it. there do. Things and those up, on, deny That’s is well, cost I’ll but up. material really we that raw thing. most suppliers, also, concerns locked lot we utilities not which our I speak purchase selling we are going but that good price unfortunately raw shipping account what ends Aviation for like LTA customers quote It’s We either and have things increases. do keep of done how that economy, a can’t serious or a raise our are would when supply material the take covered up, LTA’s raw we about don’t prices and we up is quite not is with GE GE LTA we up, it, didn’t going an Aviation, we the part the materials an about We our in. rates have other have
to do us don’t what I immune do every from still think to say We’re the we We for the day, it but here. be outside need goes world we’re would on out world. in proper what living
Okay, we why XX, expansion. Slide our don’t go to on update
was $XX $XX Our is spoke. million. we last now time budget million It
down on So what $XX.X pulled business with happened? We theory that million $XX it million is started think. to very We slow. I
September will be two worked a bottom below kind things So month. things, later decisions ramp Spending and with to about can what a everything on, of the guess $XX million. Completion increased make the items of million. see its hold so is basically of to of which manufacturing July $XX for basically are for up XXXX. is top, pictured let’s the planned. $X the while back date next Little we but XXXX to MRAS is million runs math, the is month. the go. couple I happens about We trials Qualification and do completion major These of right for start next the left but equipment equipment. corners, on what’s
and want huge the they don’t you perspective to to and they competitors our give really, hard stuff well. presentations not how are We’re big they to see some we of it’s a able our see are on as are because
then is offices equipment captured picture new way. the top between toward our there right the one is and right because open. see a one took the but the the with existing kind to also you that’s facility warehouse, and facility offices two the a then you at top the perspective on is to of take we passage of on picture of picture back new except facility, the and office My existing bottom and film left office middle, see funny nice the the So picture. right it’s Off the the a this that’s of new could not this of is in kind rooms, is right and
we to during other’s it going about the reflections is had finest the our when and was let’s not That’s wrap true and stayed of But its capital that fiscal what don’t maybe many not when the not heartbreak others by its when the of spending. we their maybe We family our Park’s up. sell talk people our push nature Slide stuck some backs. down. heartbreak At did. XXXX at so don’t does We are and anybody go that up I’m So we together and our Park, The We expansion through back Park, is Park principles We Well, give family, some XX, quit, share story on major special others strange expansion. Park’s people. Park our thousands. kind that. did don’t tragedy we’re it’s of and year keep some not just XX each do filled precious. try we here. with a a others we Park darkest layoff to together. hour. forward do, not with going. the slashed days away. year, didn’t. thousands out saw to when did We Slide others unusual wonderful have company and
when We’re comes it very our to fortunate people.
keeps. We’re the for Park, At we not play like others.
here. make fooling around, an impact not to We’re we’re looking
ever. may XXXX best have fiscal Park’s So, been year year Park’s
some way since were I maybe but days great time, my that can year when hesitation, years I tell XXs, know, the I opinion, can’t then another and at best I in the the compare. that company the best You with maybe fiscal I’d XXXX. company without that Park’s year can’t say since XXXX without to hesitation Woodside, in I’ve joined in would the there early in the XXXX my you beginning, of been Queens, – speak that think before before year was the
I hour. Yes, my opinion That’s our finest think our ever. anyway. best year
The picture row save The is for who love Jose of a and do. of and crews one to will bottom row we lead. our we top the So Guadalupe Joshua Seraphin. that’s Juan. last a which
film Park these five the deal. operate what’s things. those big lines program. both solution going on and been line Now is this guys This crew. that’s different and Wait to flexibility interesting minute, two customer a Well, second here? shift what’s one has Each treater a of is approved is are
go just them. work here somebody these put No, lines with way. okay, don’t You that doesn’t on hired you it
trying able and forth us the important to between two So we’re works flexibility. you to us downturn to was customer with now see how major that are up. important those to when during and lines guys and it move back so ramp so These
how that’s works. it So
think of thank slide. So at I end our Slide the XX we’re you is the presentation. Operator.
are the questions to take So we’re that extent to happy there any.