Aerospace and defense investors are busy today digesting several earnings reports in the sector.
Boeing (NYSE:BA) posted a 31% increase in profits, to $1.1 billion, or $1.46 per share, from $837 million, or $1.12 per share, last year.
Revenue rose 4%, to $17.73 billion.
Earnings per share were ahead of expectations, as was Boeing's increased full year forecast for earnings in a range of $4.30 to $4.40 per share.
Also today, General Dynamics (NYSE:GD) reported that third quarter earnings ticked higher to $652 million, or $1.80 per share, from $650 million, or $1.70 per share, last year, when there were more shares outstanding.
Adjusted earnings of $1.83 per share exceeded analyst estimates, but a 2% decline in revenue, to $7.85 billion, missed expectations.
Lockheed Martin (NYSE:LMT) reported third quarter net earnings of $700 million, or $2.10 per share, compared to $560 million, or $1.54 per share, last year.
Adjusted earnings of $1.99 per share beat analyst expectations, as did an increase in revenue to $12.12 billion from $11.34 billion last year.
Lockheed hiked its full year earnings expectations to $7.40 to $7.60 per share. Analyst estimates are in the middle of the range, on average.
And, Northrop Grumman (NYSE:NOC) reported third quarter earnings that rose to $520 million, or $1.86 per share, from $497 million, or $1.67 per share, last year.
Revenue fell to $6.6 billion from $7.1 billion last year.
Per-share results beat analyst expectations, although revenue fell short.
Northrop raised its full year forecast to earnings in a range of $6.95 to $7.05 per share.
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