Q1 Earnings: Boeing, Lockheed and General Dynamics Profits Rise

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.