This operator. call. conference with second have you, everybody to is Thank I our Farabaugh, our Matt me quarter Welcome CFO. Brian.
the this going as course, earnings The on to webcast. it to release, our And that go I you the -- of presentation you copy presentation of to usual, through a via go make want In to really this website. most of as we're know, is also you front are in morning. call instructions posted presentation, think more we through now have As as announced of to how access our which earnings there you meaningful.
what we long usual, ticking That's interesting dry can't this cover try We perspective. a in could I time want We not inside try to a numbers. to through of everything. As presentations. warn these lot we data be you, to one. And spend do don't provide really
think three or four like XX have I to XX the it could minutes. been, last be
to And don't So you in if be so and we questions can. there will I happy go hang through presentation. answer why Matt the
started. get our forward-looking disclaimer. this let's Slide So is X,
our of contents. Let us know Slide if you have any table language. X questions about our is disclaimer
to go can questions Slide of if at end appendices, are know us either or presentation. those which not attached through three presentation you the have going time. the the at We any X. let later. But to this have you us call again, We're
go part the of we with Now right numbers. into the stuff the we get
our 'XX QX. we just fiscal year So announced
down in QX gross column the sales or QX Look indicated -- margin As QX our at XX% when $X.XXX from less more Gross of were here, as call. level XX.X%, margin down correction, would $XX.XXX right-hand think of million. we of you profit, can that EBITDA Adjusted margins you And come probably I $X.XXX know, see, last adjusted million. gross the we EBITDA at did XX.X%. our years. the couple and the million
did what said estimate million was July sales call QX on to we during So say we our our $XX.XX investor $XX.XX X, QX million. about
seems it came range the like there. Again, we our to the million. was we EBITDA And $X So estimate range. within in $X.X within came adjusted million
not but lot Our we forecast this go sure much philosophy just want to. which are some every the still we us, we in, I forgot over. of some the new of have dial we over I'm with go you of to you quarter. a think cover people I just stuff should basics or hope familiar case say, pretty in how Because in case we
provide a saying We We We lot don't but everybody wrong, going know we we do, think to not numbers normally which think little work give we to you, we but going you don't philosophy it's you when forecast, This with happen. be saying happen, could is we're that is is assuming we commitment. what hard is easy what happen is dedication happen very to We this and a a little we Our of bit different. feel almost we -- plays give but a a beat. range, can forecast a is that you. silly we're game. it, to of
your So time. kind later here then can that's beat we're number think almost on. -- just be that not and trying we worth to selling We and a not of give
to want remind I So you that. just
of -- the about be this we of themes. presentation, these X. kind this to We on of over quarters. And QX, repeating things a Remember, last to low the million. are In had these go discussed Let’s Sales which programs. Slide $X factors which several component missile go that's for through. of the affected sales want central margin. component Lots of QX, we will throughout
the supplier. supplier. relationship overseas the have It's We an with
Some us of OEMs these buy our and for customers ask to the that them. product this in are missile on programs U.S.
relationship And product, then programs. supplier We a sell overseas. a These with sell to are the we customers. have critical the the product we
there's So it's quite low but involved, markup a margin.
as many and side, produce flip the call the high. Now are actually times, -- we blade product we is when that margins prepregs we the quite and discussed use it
with expectation sell used by to that the point at these in it them future. product is will for whatever to it, once these they want later us produce we the do customers, can for composite programs Now some the materials they be but the
when when margin low So central we mark-up the sell basically good it flips we margin. produce component the a materials,
another -- $X low QX. sourcing In is sales $XXX,XXX -- is sorry, actually component. source shipment inability other sales not this materials. raw theme. second quarter, international going difficulties, coming Over sales key big in million Difficulty missed needed. And $XXX,XXX missed stuff a in. that out of then we margin of words, to So because couldn't this on we materials Yes,
ship We really I shippers it. But product at of get that couldn't all customers. good that to couldn't mean have good our ship too, stuff. We $XXX,XXX at people this was testing international overseas are we really overseas. still
and it. ship can't a it sale be not product, quarter. that ship We record simple. the a very It's it's we in to we going as it a then us sale in we And For invoice quarter.
there. thing. additional of miss weeks over that dollars sound the in but approximate the last couple We of the And $X quarter. here's $XXX,XXX So million, had doesn't risk at good,
bit of done. of the lot the of logistics. in there's for more teams getting a So our quarter. stuff around, a us moving a of at on All fantastic job juggling, really at it people did the lot of SME But lot lot risk. of a a lot brute based force, the end because factors a at A nail-biter little [ph] was same this
quarantines. brute So lots we're daily with plus in dealing force of battles, COVID
people not havoc somebody the pick planning to issues, in happens of tests what somebody's to terribly pretty scheduling to really got really all reached then freight that. think of. okay. City the is do be want up stuff. this We're the And in kind whole talking driving materials international terrific that to with I crew aware -- production home. shipment we Domestic this the the that did is But And dealing supplier about deliver up hasn't can't Yeah, sick job wife, you our we things. we yard they work freight Kansas Nobody's time train to couldn't ourselves, home, to have issues. positive, our because get and us. we a And around. to with everybody our sorry, then Fortunately, complaints. difficulties, that is around just these domestic go This of life go has okay, have some
let we're you about it. say us If talking when
costs expected freight Additional for shipments.
yeah, So kind it's of a like weird. little
paying well, of you're get us. expected is interesting Our I they U.S., we other LTA, are the what new listening sorry, the the still they to our cost the a kind Most an could last going material enter not of say but are with a manufacturing of in to to of can we always don't which, quotes if supplies, there are kind on covered. to are aerospace, Washington and then then either. company have surprises. Financial get suppliers going are -- upon just cost these not we're Journals, that's product based day-to-day well, we covered. customer the say, covered increases, of increases. always think News something. tie This world, increases LTA escalations, No to Yeah, to suppliers. in of terms in life perspective normally When companies, cost yeah, pay an lot based the into material in mostly covered always going with in be them. Raw LTA not norm, not that's but that's attention for manufacturing customers, anything And getting an minute adjustment general them Cost you But really costs covered, the expat freight freight, P&L not you we're make there. we
a of terms and supplies cost supplies, go other up. up manufacturing costs for and Miscellaneous So risk all can lot. there's and costs. Yeah, in up
know a you later to cost These that. Remember, the about we It's don't generally we're are We factors to news quarter, opinion. talking just because, of finally up, but any well. tell we are excuses But not benefits, kind people that my as the would You of can environment you I'm all. don't that good We it. use in, are count. [indiscernible] have me talk country. in wages, of a insurance thing. goes goes there's kind every our utilities, what as thought -- that they specific We strange into very -- increase you been up name people obviously, we're want about give at on. kind like to these able here not about. we'll That's
go on Slide to let's talk P&L is Slide about XXXX. I'll X. So to our just back going annual history This X.
our You it can current fiscal at let's the on. to -- for want when to and you a forecast if take But we fiscal XX prior look Slide the move look year, on just 'XX, years. compare
X. Slide on here going keep Let's
couple sure. we for this really We information information this shareholders. one quarter. We quarters to were a our including like said of important not every and see So of
to and but marketable go date to our balance strategy And spending about in caption. the overseas complete read $X.XX Trump Matt's law transition and am, to capital We the tax and zero to have that spent This Park $XXX dividend zero the earnings I we debt. spending of our We sorry, explain has tax forgot they -- is our in Park to here cash. at cash million. QX. So expansion, talked $XXX,XXX we payments, long-term a past. go. better the than Park about securities long-term with cash major sorry $XX.XX those of about debt. million, do history million cash, about has end QX. allocation got has -- sheet,
So let's see.
owe million of quarter. calendar the we the in Those payments that are year million that has $X.X paid $XX.X $XX.X be to second have was date We paid XXXX. paid, $X.X in million been fiscal to and through million
we like a have always dividend. $X regular course, little million quarter, over every Of plus
everybody we consecutive to years rushing did regular amount. cash don't per economic without the has per fiscal in regular XX dividend. Park sorry. At share cash because long think you dividends cash year reducing or that throughout interrupted, well and about million $XXX a beginning paid the ever presentation, of of as since has think paid $X.XX I So need it's maintained crisis. in of cash dividend skipping Park $XX.XX Park's uninterrupted that. a or XXXX. outflows. dividends dividend I'm quarterly Park, share a terms dividend pandemic quarterly cash
X. Slide to go Let's
October on X, cash Another payable XX, $X.XX dividend regular November September share X XXXX. per record on declared shareholders to quarterly was of
company dividend will we cash here November know have X, X $XXX million exclamation small beginning we a me tell for you lot like the today paid Park, what did fiscal with but get go. I in me So going XXXX, don't When do heck what that's since this But yesterday, you think, tell it, Park and paid don't you're money. to tomorrow. is points. of XXXX a from of dividends on cash what of a
to that Wall capital we of in a aren't for fancy go lot strategy the us of do with to Park's So going saying, way Financial are or living that what allocation of money world. a really we Street now those
what think means. that's it I
industry strategic collaborations, talked track targeting So also to this watch time. and acquisitions Park product segments certain continues and lines. aerospace We last about but and acquisition potential of certain potential opportunities
areas out and to from transom reached the the rather want to that than go stuff to reacting are think targeted say. we comes segments. companies companies strategic continues that So into we Park bankers, to to out we reach let's several over identified just in
it. we're So still still at trying. We're
Park going and -- next strategic large in X. to certain to major aerospace new investments programs. Slide investments aerospace programs. Potential has reached major the in strategic OEMs out regarding Next slide, aircraft
These interesting. maybe yet. of programs been they really the considering, new household announced names We're industry. is haven't this are they're aerospace aware that So OEMs in
partly with also them want and So as out we discussion. these them would part we the programs, to work by on Obviously, making we've that business an of investment. the asked can reached
That's a part us. So keep sacrificing going. park or cheap It's many with money. Park go dollar not come let's which years. easy people over not through easy easy many every cash money of is Park's much syndication.
you somebody to That our money, invest this a deal of comes spend to do not throw around hard, idea do the not thing you're some for will casualty some Park how meaning much that investment, going and more or strategic had. If deal. guess doing form sake you shareholders, our owners serious a feel invest for kind we'll other or going to or are. be in we do a of the deal many thing when for be just Slide of it not I It's tend So an or much of is feeling more and a cash just careful, but cash its cool acquisition more of to you. we that money -- it's about it. when much right thoughtful, were my let's XX. Well, you thing
customers, one our This kind our Okay. presentations X is of in thing. a of slides fun our standard top
a to GBST. deterrent multiple be that? with for ICBMs into are they but a we now bit program. in their top UTAP-XX to Aerojet to ground-based That's very for Rocketdyne, a country's, is be start Let's you of We're the main here, really a with by picture quite this We're more deal. Grumman composite hope GBST. recently. drone. important the get quite we Cratos of there -- goes This Kratos, that a big supplier picture X North drone And strategic the bit. Aramatrix materials we their programs. And have We on about news heard penetration happy told Teramatrix That at programs. for composites. defense. seem very Have are a next-generation
quarter, So X we be picture different anyway to find try say a top a here, seeing bit. usually to every quite the you
right. NORDAM at Those It's that of is. presentations Park them right, stuff I the had top nacelles group engine plenty see engine. materials. Passport bottom Group. XXX-X the to a here, nice aerostructure system. with a the program last they are -- all of about NORDAM made this And rest quarter, all XX Okay, featured We middle and the we different a think, the river, in picture of time. but cells know We in There's
nacelles Now It's primary this NORDAM the jet. thrust what's of XX but This we the of is Global by is this for interesting for for that on engine. and produced not MRAS. materials which itself. MRAS, And is business the engine, produce for through component a engine versus goes XXXX the is engine structure this Passport the the long-range
go XX. to Slide Let's on
Okay.
So here's slide another have standard in our we presentations. that
pie Our charts.
comparison, 'XX. X I pieces The have And shouldn't look that's We it pie we for was back quarters. we the have have the 'XX, is let's just how and 'XX at say first around. commercial have 'XX but -- not dominant, the for say, much of than dominating in moved right, more significant
surprise anybody. So due I not generally for us it's big budget little don't think a issues. Military a hear We to maybe to slower.
programs, for full as I down our I Arm Committee Valkyrie. and tell the Although can many of just markup about just Senator released its sort this it. Good guess including you to Service
But next especially a active, every good could the commercial. going running will For it in to Commercial, be quarter running every month, emerge the us, It which going on be really and we ones active it than week will us are programs is which then military, military, they're very quarter, will Obviously, running, be it's ones be we and no really and quarter. the be on one following to not. have we're Military for program. that. are over different and active control active be programs, really.
Business We little these not stronger military a they're Aircraft. caught me the around. We it's budget fluctuations weaker. choppy, sensitive be a less perspective. programs niche could get to or function just sometimes the those. of up anyway our revenue Also from military the that in. getting think like think why that's So big but fine We it's to programs market
Global in the for mostly big us that's business That's us, aircraft. XXXX. a dog For
like do Although programs. Gulfstream we citation quite and and Business into supply type good. Falcon has been other And Aircraft
rather Commercial X about for presentation. throughout more last, don't jet, the reasons, maybe to do months maybe commercial the I So to a obvious much than into on months, have that know, detail able I airlines. people for go are prefer fly will X-X business
fun moving we is or that Don't is every So the and this want one a lane slides quarter. little project. down. do get bugged here. of XX, let's data to keep Slide This
lot We are These to there interest not at programs, necessarily fun of with military programs left. be top have of this. they are find we think a biggest you'd the the
a So run for program we're that or of really time. PAC-X of thing thing missile F-XX in We've is ground-based the long kind a us, for data PAC-X. a tracking intercept fun program. with This interesting an incoming PAC-X providing to
of we parts deck we Then materials we're And except Navy the vertical at think actual it much, program, Navy mentioned a it launched this many from I nice produced but the next U.S. you the very of XX system. and really not this being missiles to actually really see about times. one launch could picture is ship. NK the talk right,
CXX Next one, Spark, medium-range aircraft. surveillance
renal but programs, a a has niche material which get radome, mile to focus. missile probably about this niche there. grown to That's we surprising to what consider on materials, then And with to that really position program. Falcon in And nice guard. not more to Avio is be We this program. do been like be program, really the we're then programs. Heavy So Aster, space the for SpaceX later to really coast as hypersonic Rocketmiles the penetration we not talk The go
go Let's Slide to on XX.
updated Okay. it Kansas. our to Changing on moved major Newton, expansion gears Total budget up million. in here, $XX.X
was time, said last it we $XX I think million.
$XX.XX everything to We as Spending XX%, million little total up a creeping go. million it's about that's to So go. $X.XX to date bit. added up spending to
many get some on, payments with are of we'd well. why had, everything good. -- and for money slashing released, that built know we off begin figured were be now, which a we've be the you in based out Thanksgiving, we're need in forward complete thing was that to so spending of this paid That's we you is capacity suppliers If an capital in the holdbacks is right expansion some maybe been expansion this remember. still released. pushed major works to the the the world in progress, process. for It's So final really December. certified did. expansion with we as qualified hurt a there's redundancy the saying Manufacturing things when and their going factory runs we it get out. expected as signed about way But a Qualification when And probably trials Originally, equipment a is We expansion now. to expansion building get and the around good get zero X equipment big there's months. certified because do trouble the don't the equipment, or and year others design we like
didn't and we So keep going. start
We have our a now. real problem right in hands
new about a we'll but expansion building thing We works building existing something the is new sorry, Tent talked So made like at with along. least the And All facility. this facility. actually can of the but send new office it, a One we little the right you feet. a never came And new it. the or in been in guess see the It's of City really right, that's that's the we new top Well, the to middle name up good with you facility aircraft building bit stories this thing, bottom building. thing all is that's about -- that's that. see R&D left, the the our with XX,XXX And existing square little office little the kind new The we -- the the something here, decision. I picture, how anybody the $X that just maybe wanted sets with picture, facility middle picture the now. right. offices, name name. building is secret two then a came a the that's the with
on Let's Slide keep going XX.
aviation. gears on changing updates the commercial aviation, developments commercial again So and
aircraft concern our AXXXneo. such more with and less we legacy in environmental fuel first modern quickly motivation the as single-aisle presentation, extra item provide had to fuel-efficient more The airlines Airbus fuel aircraft higher vision jet single-aisle prior for prices replace
item. Next
the So you activity to aviation aerospace, going perspective with going here commercial the market. on stuff, domestic is The new commercial little this try to was aviation and to commercial coming we're September, and August give in but a nicely in as expectation. probably what's that's we variant as the recovery in all down negatively fully well. passenger major reported, September. Delta and August markets, September impacted as but The traffic
quarter impacting the markets to to a China Delta pushed been My major aviation Will to the means well as domestic domestic major guess outbreak if other let's fourth recovery, next if China. lower we -- the earlier, Delta don't Slide back at occur on variant. which amount. that's The by setback of right some it can airline airline, orders have I extent, U.S. large feel. is pre-COVID, term airline an maybe impacted But to planning. amount minor based most upon maybe full meaning the the market Delta in from is we running in probably markets as So manufacturers? by been airplanes by you year mean by this feeling have predicted business what why go you're the variant that, year, aviation this about my I negatively variant. XX, maybe the produced the very U.S. in Well, talk market more, negatively aircraft a domestic of be quarter aviation have the or will know the also is to impact That's even the to And minor commercial temporary first all.
an airplane X it and just in don't weeks. buy You want
are you if So your a X an you're going order month passenger and really data pattern. there's traffic change or X to airline, running setback and
to out going orders. push You're
got In a the is with you're production business, the you you is a I shocked. pandemic shouldn't A the trending very be when would Will an or that by seen own I end variant business. trending Delta the experts? commercial situation. event, change and us, very feeling November My are I not manufacturing, massive saying by our Boeing, Delta everything. saying people not This that. or wrong push uncertainty already. is we as running airline, I that. lot any I did out think cancel orders. has adjust predicted there countries the in of We're before large there this surprised. decision support talking cancel if to it's down be be make other aircraft running schedule of this probably about at guess Also, UK. a to to evidence any different upon lot data of we that India about the a You people the orders of back. look you're that airline started Airbus their variant they And have of test based under mean with patterns. are circumstances, I'd these probably beginning in guess like been
of we'll down. So think the of kind winding even variant it And the even lot Delta October, November, of there's maybe expectation more. of by a end see end is the down that I at winding
my is or on recover business. yes, International that upon commercial to it traffic. to passenger our of typically based Aviation loosening have maybe has think. recovered years rates, August, vaccination a know, level. lags affect -- I in big extent, increased fully to Commercial some my recover a feeling and restrictions September. X say say, is They no number travel recoveries. that, expected X Commercial International years to Aviation domestic body of is pre-COVID don't impact let's some aviation did So feeling still significantly take aerospace also at people what just started But means still but
X shorter single-aisle aviation for to are believes Since all on actually because interesting I commercial heard service the international in as designed the CFM, like at be engine? will rise rise How domestic is markets, COMACXXX. partnership single Park correct. we're are ending aviation between Aviation's in for the to family. markets this right Yeah, Those questions. GE industry GE for know aviation about Have not well future? single-aisle affect that's development the decades, That's and feel we in as the single-aisle to XX. that's you GE aircraft GE -- It's It's with Aviation Aviation AXXX aircraft now. aisles. the Aviation, place Safran. the go probably, don't multiple place maybe commercial aircraft Slide Let's is which engine the range decade, commercial least
have industry markets. there they don't would to a just want we future these these just because Boeing aviation minutes items that's go before of into not the compete terms time, in -- one, not and this But XX-XX I important take new will could put So items. COMACXXX aircraft a AXXXXLR, what correct. end out year? commercial against Airbus discussion will happens single-aisle be in to of to have proper to We're will develop going people China actually XXXX. in be them of which because the plans in the to the Last certified in introduce these
a quarter, except to going to modifications. the items. couple Let's to XX. you've cover We're of first is This I time, as on think just almost not with some every slide minor just go seen it save
have we with basics firm a It's of ST pricing So contract from XXXX River requirements Middle Systems, a the Aerospace. through Engineering XXXX, subsidiary MRAS LTA. here, just Aerostructure
of X So entered what it is ago. Engineering and years this sold this subsidiary about was to why Aviation, ST to that's sale we're the Aviation GE Aviation Engineering. Aviation by tie-in all done. that GE MRAS existed think the GE I then But It's we on about? MRAS programs CFM MRS Aerospace or ST When of contract, We've a the are before GE programs. type through was
complete. that fact, already construction In is talked we about
a go commitments. a to Aviation our was we we're going LTA, to MRAS of and it deal soon with up that as sign our did as GE but handshake, even live course, this And just we'll So factory. and was of course, though they ahead build
the let's So here. the not items rest into of go
cells, If on any engine Park are that background, I of lots you you in ask. huge this it update questions these Aviation jet have especially love go shows the Boeing please XXX-X how Legendary because, materials guy them, XX, picture into On Slide GE about programs. engine these all content. style. this
going update do to let's little an So take while. It's a now.
to try we'll So go as quickly through possible. as
release, the of XX the It's investor So These family have the This news dog. On We May Neo just big, through engines. Airbus quickly had by And big presentation, LEAP-XA suppliers, continuing held let's recovering AXXX is future, last Neo. they is but aircraft. on go it. bit. XX of of this the ramping in And of in this like for by for steeply. the the a of anticipation mention this us Airbus enable to That's family where XX. AXXX meaning firm I high QX been by throughout right, XX. AXXX is opportunities rates average XX a as AXXX of call year. a production an want Airbus rate of stated of XXXX. market, That's to on month 'XX. at moving just of now, prepare it's they family, QX XX per In to XX that basically confirms QX. at quite is to That's investing XX% XXXX, rate Longer scenario as QX term, suppliers Airbus the also asking picture securing pandemic.
numbers. very big So those are
Slide Let's XX. keep on going
of for bible which LEAP-XA family meaning of the had of aero-engines, firm engines. the aircraft the of of As data the XXXX, source engine CFM, Neo aircraft, of kind a orders but end the share as XX.XX% commercial August like is for AXXX
and that CFM the One is for AXXX other ones the certified program. XA family are Pratt. LEAP two has of the aircraft engines the So
engine We're the program. talking That's XA. LEAP program, not the on share Crack So CFPX CFM this our the has. share, is we're about
the for that's is So supply we Pratt don't into CFM program. us. the Pratt, -- good
here. going keep Let's
the a in that. number it's XX.XX% talking the a thousands backlog. just don't for CFM planes, And planes is current rate. of a over few month predicting planes, are of slide of future, assuming future. significant a XX in Neo prior is Assuming like now. long-term rate We We're this per the aircraft facts what not That's the forecast those happens ordered. share. about not know but share, family our that increase represents the AXXX thousands that the the forecast. we're And It's are big this units
we that back to we per AXXX, the AXXX airplanes kind the equivalent forecast math, that. XX month, about talk per if MRAS, have long-term let's airplanes into do from So math of XX In and it's the month.
other that XX.XX% for the doing compared to computations, instance, share what XX XX. share and assuming Assuming
think So that I over forecast. a higher. over XX% a increase I represents said, Like it's lot our -- it's
at out forecast yet. the number that, Our not forecast not We're at the assuming XXXX. yet. We're in XX tops at that in that number number
tops assuming XXXX, a at But XX. they to to get saying want forecast Airbus our is XX rate. So
it happen? it don't is big, So know, difference XX. want but between millions aware far Park. because be concerned. millions as dollars per XX number. big, big it's year and to for I I'm Will of you of big big, I as The Difference and a deal
makers diverging the airplanes. make selling the has particularly family make Airbus Neo up. economic There's selling the engine aircraft some engine upon the manufacturers The tension with tension and suppliers aircraft Now by ramp forecasted aircraft tension engine, money some historically rates makers. their makers there's based engine mean? been by suppliers, developed aircraft servicing drivers engine What their AXXX aggressive that over money engines. not about and for between production by does The
tension there's a new So is for that's This a a time. existed long thing. not
So on engines. AXXX supplies and legacy They out the CFM some to the legacy engine out come anxious maker servicing they also into legacy with the airplane to keep here's aircraft to of life XXX aren't makers because for with keep CFXX the getting want legacy want engine. The the the the next-generation the those point. airplanes. engines
our we're minute, up retired. GE and going a those then wait margins because going be Neo. airplanes revenue going really are retire, to and production to to the the service engines says, are the from means That the loses of everybody those if for airplanes So plans
of not of long. in rate It's I was XX stated, that production, You challenging of XX, they it more that were than understand Then XX, Customers rate this many that disappointed quarter. long, AXXX That's a XX. a important years a rate he to of X,XXX to suppliers want July the the if get He that long commercial aircraft. you're wait dynamic? backlog family pretty XX which the XX, at to guess, until, time. do That partners, means Neo means years. At CEO stated aerospace. further some a the ramp we Airbus XXXX, up. are Slide on is have
to have go. We
it make this Now is I any that But sic, sense. the think was doesn't misquote. a
it the further pretty above expect said XX. It's chain He he faster otherwise make to said obvious, he above supply sense. I much a we any think wouldn't XX, at stated, ramp up pace.
So here we go.
July the have also of Neos Neo, CEO wants share commented is The the as based share on capable a XX partly significantly ramp success that of to production AXXX said. XX% I up about Airbus We here, a to upon be AXXX XX%. little potential of of aggressive the
want to wrong. the can this just supply do because Okay, program opinion, sell can So what as GE why that is that? share think And my Airbus CFM airplanes, opinion we these happen Pratt. if My will my you engines. or will opinion with I they is be
Airbus. Pratt supply CFM engines her well, to get happens fine. airplanes going what want CFM heels for revenue maybe engines. case, don't the okay, Pratt, says, that's to any digs and that sell to I'll if not Airbus So to to that can new many support that produce we're servicing in they get it. you In can say,
manufactured not replaced But these the on engines And to legacy produced new anyway. programs. are the Neos going airplanes, old Pratt airplanes that be are with with, So with engines. the selling
AXXXneo will and haggling airplanes, Tulus it. way could if the for also be line opinion back day, Airbus you Airbus an these or the there's support sell of recently aircraft. to of Safran at resuming lose end the that in on So is is assembly opinion, GE announced new It my lot or could work a I [ph]. CFM But wrong. my be going forth
their mouth to money the talking So they're where maybe up is, about their not rates just investing. trying they're move putting
AXXXXLR, let's on we've Slide spoken to XX. The for now. So quarters go about this several
could I supposed cost. on aircraft. X,XXX really AXXXneo. widebodies much considered some XXXX orders range in and a the XXX of have big They be, be it Yeah, Well, the international So family and the shorter aggressive some capacity aircraft? already. is in probably seating over forecast AXXXneo this driver of of is in Because with of it think, XXX lower is of the This to probably. to replaces of the at a be the service over over Is seats. this game-changing flights miles it
say, cost capacity. from the still much North XLR. going with want in America seating a widebody bit you're get of have let's they a to you lower on an So the for to Europe, quite or And XLR, you get airline
ratings, item key which stature market XXX seated single-aisle, back orders capacity So to Boeing this question last AXXXneo XX is generally, A to an the what in bad. compete the Airbus seating is is what X,XXX-plus let's just August, develop see is refers not being airplane mile it. That happens. family, And AXXXXLR. to to against going
to Let's this a Aviation go a GE GE again, case, program. CFM programs. still are it's Slide XX. or These on In Aviation
COMACXXX. And for of nevertheless, a on would this down So to that airplane bit. of certified their in We U.S. make that dynamic but be And slowing XXX it the a immediately sticking doubling export difference. to But here. this year. export about China that a certification were Recent before year. China control is talked -- much those the they didn't quite no, deliveries. saying going it. was they're saying, by have Interesting timeline really They're they're of progress didn't end reports, COMAC controls responded
is know happened. for next what important Park. But we'll let's an So conference what call, would have see happens. Maybe this potential program by the
it, XX. So Slide let's the with that's happens what there. but see dynamic
airplane this And can. jet. that's a is engines go Last That's XXX. probably there which we the about discussed our us good the Passport the a reasons have up ramping a It's certified we up. us. kind Global pictures for as going out year, program also This past. thing The to next for high-margin And this planning of quarter. thing. for product Let's ramping is talk following XXX regional XXX. material Lightstrike an the sentimental of the those is every of this one We ARJXX, year. XX in XXXX are But to Also, for lot are next quickly, the a is through for we've have COMAC well. terminate
I mean have sad a less I to to you, vital for us. So also revenue want real thing we'll is have them. of for remind us. be that $X million for will a this than But
of XX. $X a $X less So is but it's for million per we emphasized Slide revenue That million. us lot, less than program than year.
Okay.
flights not commercial You being the review. It which day of rather. very beginning Why XX, of not remember, all in fly supply was handle sorry, it. for many mode, pretty stuff a the to the industry aircraft is come any, industry, many, about started stuff, Vaccines it. for up at it's even believe review that really halted. lease promised commercial people. But the got end? in fly when future that this of aerospace not just Thoughts to in almost so meltdown the aircraft quickly mode Let's years thousands the to people to it here. of can items and again all And kind people domestic thinking about were Slide at developed news commentaries them Armageddon as and led And don't of the Aviation or of dire surprise, know that supply far of how analysts production the also. the survival probably chain end pretty at surprise, recovery and talked aviation companies different or the commercial being back in was tired may want is and the day's we the pandemic, people The in was again, companies commercial these slashed industry minds We about recovery, about attitudes since or scenario, in result the of flights. negative. just about. the chain empty. end locked read will predicted come never were dire a -- industry, the Both skip all if was lots in survival was just industry worth down. meltdown recovery, most We're the bunker industry.
get a to sudden, these people planes So all again. of wanted
airplanes buy wanted change. to result, again. as a companies a And So airline it's kind of big
I While had want didn't There of companies buy future didn't was. is beginning of what much the the you airplanes. the airplanes want at airline a just uncertainty pandemic, about But airplanes. so to lot
go Airplanes these airline produce into needs components, that airplanes. to now. thousands companies somebody buy of And to the which the thousands, want
Let's a aircraft supply it very plus survival is to to not commercial since back had mode up chain such quickly had renewed flat the massive demand, was in the going employees off ramp chain go was ramp off number XX. who Slide laid to the did of workforce on bunker so what the paying the to been companies supply mine try meet But companies easy, with These to the work. has anyway. employees not go that has up and back widely plus been government people reported meet laid back industry not have they the hire the not to in
cases, demands So badly this that to whipsaw all and unexpected recovers. is of aircraft in didn't commercial as the in result increased aircraft of which commercial What's meet flat-footed the help chain the called industry effect either. some was it industry struggling supply the the
did This is news. end not in supply back We chain we response commercial sudden, aircraft So use been, bill the say, would has but one. of the a It's again. kind a lukewarm. of Then of not And need difficult were down mode. XX, in we're to hand. of phase clamping whipsaw up all dynamic. dongle Slide at today's a Park, I do survival the ramp buy in we kind because they the
said. interesting. XX, XXXX, is we we reigns said beginning This of uncertainty crisis, Here what is the fear the confusion, what pandemic, is This and this supreme. is on of the May beginning
were one we're that you, read mode. I what, we remember we the item don't days to to it. through know it, we're interesting. aviation people what got the call of the bunker And you mission going pretty believe -- that for returning, know last the don't tend too were part quite you mode. into of not on. the were were not go-forward that we We joining I glory be in But you many I'm this. the but read Just alone. We for go much going
we a giving to believe on of commercial quite for Park, Let's know come, go Slide We're wanted us not to we for At aircraft up XX. the and the when it. opposite commercial industry part it aircraft the be ready although be on do is not and we would recovery actually. industry
very our people off commercial in seemingly the through and pervasive aerospace We -- to of all decision in baseline for was it people with ability So commercial MRAS of before Slide difficult we our maintain industry. levels, anybody hopeless any ramp we to about mass We to below days up. have this important If of nobody. these condition when This bad and the is went off we out Because in enough Park. us. monthly production made production such be though levels And have hands some even and would problem layoff big a people have trying very, didn't up. one big mass And a to we important. a be MRAS not would critical the our Park's wasn't ramp lay -- would It to big need. we in for laid because to talked darkest minimum critical we not the would preserve an the we in None XX. ramp It a one. for turns back aerospace of really real really we'd those off for one back we problem critically terms arrangements. aircraft a know industry. problem laid us, be -- is widespread manufacturer people
the engine and jet ones Aviation GE the up Park fast. Park's where So on programs, ramping
on Park are and up ramping sorry, -- GE on jet that Steve. looking up programs ramp focus the a Aviation So of is engine
we you the We're four last forward look million. perspective, this at stuff. increase company. significant shared very quarters quarter, very, million. into XXXX, for QX quarter. X in four move not quarters, with in Just selling $X to a a Then XXXX, for That's QX two $X.X times That's of manufacturing times
make to it. have We
We have raw the material. get to
to produce have We it.
it. have We test to
big challenge, We a very have it, to a big challenge. very ship
go. Aviation great. about it faster would really maybe not ramp XX. aerospace ramp? the Park pre-COVID How minus, up, for if long supply a Important a try the long. responding QX us 'XX, still the already people. because And I Steep GE Slide are I'm program? I so -- responding QX. long year It's issue to commercial how QX day. all an fiscal know at every C has chain is QX is and going and to give so way you already, manufacturing FYI, going we're our even is steep look here Just levels, still at the and ramp-up to to question, challenge rush
XXX. is We're Our XXX at quarter. last current headcount
little back to X So a still hiring and a challenge. we're steps people bit, are of up terms still forward ramping process. a looking the X of headcount number We hire. our but in step
blessed challenge, thank during move continue, to freight able logistics quarantine have COVID loyalty dedication quarter for and every her Park issues, work for couldn't go his done stepped But issues, about to and A Without and the people all through go steep received Aviation been up bonus flexibility this that How customer trying the program's again, That's to to XX. once every thank as talked especially into about in critical to Slide on what ramp to I won't about outstanding done. job great commitment enough planning people. program. or We meet be better in Once you goodness QX. people issues, has chain get to dedication, quarter Park's QX. details. ever of again. back do up for were us, the second had ramp get objectives great this I almost well-earned is people. you're a So people but we already supply lot program, fortunate GE and Park, overcome, for less and we people, them, we over won't up. We deserved. the those Park our our talk Park can't Park's so $XXX responding back big say order challenges Park's Park again. person is such as for really
rushing So Slide I'm and XX, this quickly.
difficult difficult. that ramp the of quarter Airbus of anywhere the the quarter-to-quarter levels. GE is in To inventory It's I thing other. coming move can to we -- see The though, much we We're forward up operating when that here. X have because -- forecasted mismatch especially go would the discussion only not practices, questions, out that is You that course. forecasting move me, is back this It more can things it. to numbers say not one from makes is numbers, about it spoke presentation. earlier about with will big near numbers Because the meet the of those the and a
go is point, up. So is going at But have bring can't numbers or some are to be ways. to Airbus going both number down to those
So we there know, got I but this had kind I to has something a saying hanging it's you there, at it, feeling I'm let point. be fourth out hard quarter? give. hard to start If in in the Is to It's to kind know, quarter? have fourth don't going of I something say. about going really it is to the it's would just to of out give. that say, know
we close pretty that other the Unless support per up. happen. that going to XX a minute, got a is off level to Slide Again, because or to We're bringing operating something our numbers has backs we're And straightforward. XX as unless wait backs are says, to changed story. to ramping give about a XX. lot, that's program. Maybe are different nowhere Something off or Airbus we numbers back month. programs Airbus down the well mind. a our talked But
detail. are million about late essential good. which relatively in of Same plated in that we also into we the I'll million great great about but just go In question. margins. expect which about good sales. them any critical expect That's of of mention won't sales, margins, component QX, $X.X sales I materials, So though, $XXX,XXX the of $X QX, not the
up. requirements. they back go not because talked we particularly At regarding GE on our but look chain I QX it's to this ready. to to factors to to and there. point want to I point, we out we're about. It's what We're Slide talking and said, At is go. to some their Obviously, you gone we'll at If point, the numbers QX. At their going have of ready have that our that our challenges like that Airbus. will they're once move matching. don't Same out going away supply going we have about and match apply kind Park is down When numbers X, something will to it's those looming continue, QX programs, factors have know. or that our there. Those going is for we're production haven't keep about to all do question And But ready with bring go. happen?
As that for important did I said, they're stop very Park. it's really to it good we expansion slow down, going
go to Let's on Slide XX-XX.
told the expendable. good. we quickly, these they're the We're defined through me in undefined for greater told So go fairly in last world matter. sacrificed We're saddened be or to We that at some they're deeply are gears by What our let We're important most here. here not but slides, they what work loosely living for a Park. lot so matters to people who were see us, are today. changing do them told
say company larger us, these all matters we about believe people. what doesn't it's But we really matter we we to what a say think about own our But what understand or lot what it tragic. small much and we're and a So issues. is that
matter Park, everything; most; them are our do the back not turn We So at are people are Park, at people Park, Park, expendable. our family. people family. our people, at our on not our At
are not forsaken. to Our people be
a but are a people to most fortunate it's because our Our lot. At comes I Park, when I we're people. it's At be lot, mean our Park, it sacrificed. say precious; the to are not people it's always
At on Park, talking slide, our them. for is our our a do. owners. That's about money people people people is go make which that It's to Let's are something of all they they our Park, last At for That to. living. committed what do. I'm what work XX. our
throughout crisis. every I Now think Did that? and everybody quarter don't economic pandemic we made this money so. do
throughout chain that probably aerospace do the think economic was that doing something easy in most the not people I companies did pandemic, this supply it crisis. throughout our that. But wasn't
that, do. luck. did what based serious every an upon money not people accident, That's dedication. dedication, and commitment owners quarter. and It's made for they Not serious commitment Our
by know At special not that. a we others. the to you Park, is we're wanted play people. unusual and Park, At strange just keeps. So company, wonderful Park built and like for
this crews, crews featuring we're So service we teams. planning of X case, of a always least picture customer our at feature in and the purchasing few quarters, last in one always,
right; me left Let and go Chris, Elena. to Jordan, from Jonathan, Sara Teresa, Dakota,
kept people, So issues, with the environment to week, initiatives, lines are people chain these the all issues, production things international supply these that orders, presentation, all juggling been the we've things front on during freight you and change day. about up, coming don't normally, predict can't talking quarantine want planning, things issues, then in freight planning this customer possible you COVID every let's But say, quarantine, every want some production visibility you that that. because these the
the group people. saw we brute juggling, of probably obstacles. was waste met big it of schedules the lot moving these overcome objectives QX. force on quarter around this of the always for But lots job, that way They So a for our to
very you thank much. So
long Sorry as with done you followed, it for to But start July over of going quickly things. maybe you that have rushing we our presentation. take operator, probably made difficult and we're so so now skipping some
So if to there them. take questions, are any we happy would