Three of America’s largest defense and aerospace companies all reported increased first quarter profits this week.
“Boeing Co., the world’s second biggest commercial airplane manufacturer, reported a better-than-expected 38 percent jump in its first-quarter earnings, as it improved efficiency and recorded more orders for its aircraft,” the Associated Press reported. “The results, announced Wednesday by the Chicago-based aerospace and defense company, sent Boeing shares to a two-month high.”
Lockheed Martin reported profits rose 6 percent on sales of space systems, missiles and information technology systems. The Bethesda, Maryland-based company reported profits of $730 million, or $1.75 per share, beating analysts’ expectations of $1.63 per share.
The nation’s fourth largest defense contractor, General Dynamics, reported a 32-percent increase in first quarter earnings. The company’s net profit was $572 million, or $1.43 per share, up from $434 million or $1.07 per share. Profits rose on increased sales in combat systems, marine systems and the aerospace segment.
NASA also announced that it has awarded General Dynamics a $116 million contract for the Landsat Data Continuity Mission (LDCM). The company’s Advanced Information Systems unit will be responsible for designing and fabricating the LDCM spacecraft bus, integrating instruments, satellite-level testing, on-orbit satellite check-out, and continuing on-orbit engineering support. General Dynamics also will provide a spacecraft/observatory simulator.