Publicly-traded companies, including aerospace and defense companies, have recently released their second quarter earnings and forecasts. Among them:

Boeing (BA)

  • Continue to engage global regulators and customers on safe return to service of the 737 MAX
  • Recorded charge and increased costs related to the 737 MAX, as previously announced
  • Revenue of $15.8 billion reflecting 737 MAX impacts and higher defense and services volume
  • Loss of ($5.21) per share (GAAP) and core (non-GAAP)* loss of ($5.82) per share
  • Operating cash flow of ($0.6) billion; paid $1.2 billion of dividends
  • Total backlog of $474 billion, including more than 5,500 commercial airplanes
  • Cash and marketable securities of $9.6 billion provide strong liquidity
  • Previously issued 2019 guidance does not reflect 737 MAX impacts; new guidance to be issued at a future date

Boeing’s press release is here –

Boeing’s slide deck presentation is here –

Boeing’s conference call information is here –

General Dynamics (GD)

  • Revenue of $9.6 billion, up 4% year-over-year
  • Diluted earnings per share of $2.77, up 5.7% year-over-year
  • Gulfstream G600 achieves FAA certification

GD’s press release is here –

GD’s webcast is here –

GD’s Q2 Earnings Conference Call slide deck is here –

Leidos (LDOS)

  • Revenues: $2.73 billion, year-over-year growth of 8%
  • Diluted Earnings per Share: $0.93; Non-GAAP Diluted Earnings per Share: $1.16
  • Net Bookings: $3.0 billion (book-to-bill ratio of 1.1)
  • Increases quarterly dividend by 6% to $0.34 per share

Leidos’ Q2 Earnings press release is here –

Leidos’ Q2 Earnings Conference Call slide deck is here –

Lockheed Martin (LMT)

  • Achieved Sales of $14.4 Billion
  • Achieved Segment Operating Profit* of $1.6 Billion and
  • Earnings Per Share of $5.00
  • Generated $1.7 Billion in Cash From Operations
  • Returned ~$840 Million of Cash to Stockholders
  • Achieved Record Backlog of $137 Billion
  • Updated 2019 Outlook for Sales, Operating Profit,
  • Earnings Per Share, and Cash from Operations

Lockheed Martin’s press release is here –

Lockheed Martin’s Earnings call slide deck is here –

Northrop Grumman (NOC)

  • Net Awards Total $13.5 Billion; Book-to-Bill of 1.6
  • Backlog Increases 10 Percent to $63 Billion
  • Sales Increase 19 Percent to $8.5 Billion
  • Operating Income Increases 16 Percent
  • Segment Operating Income Increases 26 Percent
  • EPS Increase 12 Percent to $5.06
  • Cash from Operations Totals $1.6 Billion; Free Cash Flow1 Totals $1.4 Billion
  • 2019 MTM-adjusted EPS1 Guidance Increased to $19.30 to $19.55

NOC’s Q2 press release is here –

NOC’s Q2 slide deck is here –

NOC’s Q2 webcast is here –

Raytheon (RTN)

  • Record bookings of $9.5 billion; book-to-bill ratio of 1.32
  • Strong net sales of $7.2 billion, up 8.1 percent
  • EPS from continuing operations of $2.92, up 5.0 percent
  • Operating cash flow from continuing operations of $823 million
  • Increased full-year 2019 guidance for sales, EPS and operating cash flow
  • Merger activities progressing well for previously announced merger of Raytheon and United Technologies; expected close remains on track for first half of 2020

The Raytheon Q2 press release is here –

The Raytheon Q2 side deck is here –

The Raytheon Q2 webcast is here –

Spirit AeroSystems (SPR)

  • Revenue of $2.0 billion, up 10% y/y
  • Earnings per share (EPS) of $1.61, up 23% y/y; Adjusted EPS* of $1.71, up 5% y/y
  • Cash from operations of $230 million, unchanged y/y; Adjusted free cash flow* of $193 million, up 13% y/y
  • Continuing to work closely with Boeing and supply base to manage 737 MAX grounding disruption
  • European Commission approval of Asco acquisition closing delayed due to cyberattack; expected to close in Q4

Spirit AeroSystems’ Q2 Earnings press release is here –

Spirit AeroSystems’ Q2 Earnings slide deck is here –

Spirit AeroSystems’ Q2 Earnings webcast is here –

United Technologies (UTX)

  • Sales of $19.6 billion, up 18 percent versus prior year including 6 percent organic growth
  • GAAP EPS of $2.20, down 14 percent versus prior year driven by the absence of the Taylor divestiture gain in Q2 2018
  • Adjusted EPS of $2.20, up 12 percent versus prior year

UTC’s press release is here:

UTC’s Earnings call briefing is here —