Author: Jane Edwards|| Date Published: August 22, 2022
A new McAleese & Associates report shows major defense prime contractors posted sector operating margins of approximately 11 percent in the second quarter of 2022, reflecting limited impact from the current 8.5 percent inflation.
Almost all of major defense contractors are reporting strong free cash flow and investors are expecting top seven defense primes to return approximately $22.2 billion of that cash flow in the form of dividends and share repurchases, according to the report.
McAleese said defense companies appear to expect 7 to 10 percent higher defense funding in 2023 and project that inflation will start to drop during the second half of 2022 to mid-2023.
He also noted that defense companies saw lower sales and sector profit during the second quarter driven by labor shortages and supply chain disruption.
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