RR's H1 2026 numbers look strong on the surface — 29% revenue growth. But dig deeper and Civil Aerospace gross margin actually fell, and management's confident tone doesn't fully line up with that.
Put together a short breakdown covering:
* The guidance optimism vs. supporting evidence gap
* Tone/performance mismatch in Civil Aerospace
* What IR teams (and investors reading between the lines) should watch for
Curious what this community thinks — is the margin dip a one-off cost pressure, or something structural?
