A Note From Our President & Founder Jim Garrettson
Three of the U.S.’ five largest government contractors and members of Executive Mosaic’s GovCon Index ushered in the latest round of earnings reports this week and went three-for-three against Wall Street’s forecasts..
Lockheed Martin kicked off third quarter earnings seasonTuesday with earnings-per-share and revenue figures above analyst estimates and raised guidance to the top end of its prior outlook.
Chief Financial Officer Bruce Tanner subsequently outlined to investors the company’s potential future steps on the separation of some government information technology and services businesses.
“We’re looking at… a sale, a spin or a Reverse Morris Trust somewhere in probably the middle of next year to the third quarter of next year, ” Tanner said.
CEO Marillyn Hewson said the company expects to offer more details on such a transaction by the end of the year.
Boeing soared past analyst expectations in both earnings and revenue and also lifted its full-year guidance for both categories.
The company also posted a 6-percent jump in defense segment sales year-over-year.
Raytheon reported earnings and sales figures above Wall Street forecasts, raised its full-year revenue guidance and left the 2015 earnings outlook unchanged.
The GovCon Index has risen 2.11 percent to 74.836 for the week through Fridaymidday and investors with a particular interest in government contracting will digest more earnings reports next week from Northrop Grumman, General Dynamics and others.
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An industry team led by Lockheed Martin (NYSE: LMT) has secured a potential $320M contract to integrate a new radar and tracking sensors into the Missile Defense Agency's Command, Control, Battle Management and Communications platform.
Consulting firm McAleese & Associates has released a report on military defense programs as discussed by Pentagon officials at the Senate Armed Services strategic forces subcommittee hearing Wednesday. John Rood, defense undersecretary for policy; Air Force Gen. Terrence O’Shaughnessy, commander of Northern Command; Lt. Gen. Sam Greaves, director of the Missile Defense Agency; and Lt. Gen.
Unit-ASRC Construction has won a potential $128.6M contract from the U.S. Army Corps of Engineers to build a power plant for the Long Range Discrimination Radar system at Clear Air Force Station in Alaska. The Army received three bids for the project, which is slated to be completed by December 2021, the Department of Defense
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Three of the U.S.’ five largest government contractors and members of Executive Mosaic’s 
Lockheed Martin 
Chief Financial Officer Bruce Tanner subsequently outlined to investors the company’s potential future steps on the separation of some government information technology and services businesses.
“We’re looking at… a sale, a spin or a Reverse Morris Trust somewhere in probably the middle of next year to the third quarter of next year, ” Tanner said.
Boeing 
Raytheon 
