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Defense Company News

First Quarter Earnings Reports are in... and here's some hightlights from the aerospace primes... 

Boeing reported that Q1 2016 revenue increased 2% to $22.6 billion. Core earnings per share of $1.74 reflect solid core operating performance that offset a $156 million after-tax charge ($0.24 per share) on the KC-46 Tanker program to maintain schedule with concurrency between late-stage development testing and the transition to initial production.

General Dynamics reported first-quarter 2016 earnings from continuing operations of $730 million, a 2% increase over first-quarter 2015, on revenue of $7.7 billion. Diluted earnings per share from continuing operations were $2.34 compared to $2.14 in the year-ago quarter, a 9.3% increase.

Lockheed Martin reported Q1 2016 net sales of $11.7 billion, compared to $10.1 billion in Q1 2015. Net earnings in Q12016 were $794 million, or $2.58 per share, compared to $878 million, or $2.74 per share, in Q1 2015. Cash from operations in Q1 2016 was $1.6 billion, compared to $1.0 billion in Q1 2015,

Northrop Grumman Q1 2016 net earnings increased 15% to $556 million over Q1 2015. Q1 2016 diluted EPS is based on 183.4 million weighted average shares outstanding compared with 200.5 million shares in the prior year period, an 8.5% decline. The company repurchased 1.5 million shares of its common stock in Q1 2016.

United Technologies reports first quarter adjusted EPS of $1.47 -- up 2% versus the prior year. GAAP EPS for the first quarter was $1.42 per share, which included $0.05 of restructuring charges. Sales of $13.4 billion were flat year-over-year as 2 points of organic growth in the quarter was offset by 2 points of unfavorable foreign exchange.


Defense & Aerospace Industry Meetings, Trade Shows and Exhibitions


April 28-30 -- AAAA - Army Aviation Mission Solutions Summit (Atlanta, GA)
May 2-5 -- AUVSI Unmanned Systems/Xponential 2016 - (New Orleans, LA)
May 16-18 -- Navy League's Sea-Air-Space Expo (Washington, DC)
May 24-26 -- Special Operations Forces Industry Conference - SOFIC (Tampa, FL)
June 1-4 -- ILA Berlin Air Show (Berlin ExpoCenter Airport)
June 13-17 -- AIAA's Aviation 2016 (Washington DC)
July 11-15 - Farnborough International Air Show (London, England)
Sept 9-12 -- National Association of the US (NGUAS) Annual Conference (Baltimore, MD)

USAF Chief of Staff General Mark Welsh to retire 1 July.

Defense Systems Personnel

Air Force Sets Retirement Date For Chief of Staff Gen. Welsh

Defense News reports that General Mark Welsh, the U.S. Air Force Chief of Staff, is slated to reture on 1 July 2016.  Welsh was commissioned as an Air Force officer in June 1976, and became chief of staff in August 2012.  Pentagon watchers believe the top three candidates to replace Welsh are Gen. Darren McDew, head of U.S. Transportation Command, Air Combat Command head Gen. Herbert "Hawk" Carlisle, and Air Force Space Command head Gen. John Hyten.