RE:RE:espoirI was off on prediction on Revs by $70 or soM for the Quarter. I thought that we would get a lower average per plane. Even though I based it on 31 deliveries. I was under on EBIT by $20M. That just says that are using the +FCF for other things such as Inventory & PP&E. Though I don't know where the $46M in PP&E is going. So I was off on +FCF by $220M because of the cash usage.
The cash usage for PP&E of $46M is interesting. It may have something to do with Pearson. I understand the Inventory increase with the G8000 coming in the H2.This will cover some juggling around for balance of deliveries Quarter by Quarter as well. We can't just keep loading up inventory in Q1 & Q3 every year. The Revolver/LOC increase of $150M is a good thing, if it's at the 3% range of the $300M existing one.
IMHO things are changing to the positive. Everything is going in the positive direction. Services are constantly going above $525M to $550M range for 2025. Inventory Investment maybe slowly getting balanced out in the Quarters. Q4 will still be the recoup year of the +FCF for 2025 onward. Although that could slowly change going forward from 2026 onward.