Archive: Business/Financial

Airbus Group CEO Tom Enders. Photo: Airbus Group

Commercial Aircraft, Helos Power Strong Opening Half At Airbus Group

Airbus Group reported strong first half results on Wednesday due to higher deliveries of commercial aircraft and helicopters and the company expects its sales for the year to be level with 2013. Net income soared 50 percent to $1.5 billion from $1 billion in the first half of 2013 as all three of the companies operating groups [...]

Raytheon CEO Tom Kennedy. Photo: Raytheon

Raytheon’s Kennedy Elected Chairman

Raytheon [RTN] on Monday said that the company’s board has elected its CEO Thomas Kennedy to become chairman effective October 1. Kennedy will succeed William Swanson, who has been chairman of the company since 2004. Kennedy succeeded Swanson as CEO in March and became a director on the company’s board in January. “As CEO and [...]

Bollinger Shipyards delivered the Coast Guard Fast Response Cutter Kathleen Moore  in March. Photo: Coast Guard

Coast Guard Awards Bollinger $255 Million For Six FRCs

The Coast Guard on Wednesday said it awarded Bollinger Shipyards a $255.1 million contract option for six Fast Response Cutters (FRC), bringing to 30 the number of Sentinel-class patrol boats under contract with the Louisiana-based company. The latest award also brings the total value of the FRC contract with Bollinger to $1.4 billion. Bollinger has [...]

Raytheon Chief Financial Officer Dave Wajsgras. Photo: Raytheon

Old Business, Pension Benefit Send Raytheon’s Net Income Higher

Raytheon [RTN] on Thursday posted lower sales but higher earnings with the bottom line benefiting by a swing to pension income and a handsome return from a business that was discontinued a decade ago. Net income rose 12 percent to $551 million, $1.76 earnings per share (EPS), from $493 million ($1.50 EPS), driven by a [...]

Ivor Ichikowitz, Paramount Group chairman. Chris Chadwick, president and CEO of Boeing Defense, Space and Security sign collaboration Memorandum

Boeing To Collaborate With Paramount Group

Boeing [BA] and Paramount Group, Africa’s largest Ivor Ichikowitz, Paramount Group chairman. Chris Chadwick, president and CEO of Boeing Defense, Space and Security sign collaboration Memorandum privately-owned defense and aerospace business, signed a memorandum of collaboration to jointly develop defense and security opportunities in key international markets. The agreement, signed July 15 during the bi-annual [...]

Northrop Grumman Chairman, President and CEO Wes Bush. Photo: Northrop Grumman

Northrop Grumman Posts Higher Earnings On Pension Adjustment As Sales Fall

Northrop Grumman [NOC] on Wednesday said its net income rose in the second quarter on pension adjustment as sales fell but the company’s overall performance was better than expected and it raised earnings expectations for the year. Net income increased 5 percent to $511 million, $2.37 earnings per share (EPS), from $488 million ($2.05 EPS) [...]

Boeing Chairman and CEO Jim McNerney. Photo: Boeing

Boeing Takes Hefty Charge On KC-46 Tanker But Net Income Soars With Tax Items

Boeing [BA] on Wednesday said that its net income in the second quarter climbed more than 50 percent with the help of some favorable tax resolutions, although the company disclosed a steep charge related to engineering issues with the development of a new aerial refueling tanker for the Air Force. Jim McNerney, Boeing’s chairman and [...]

GD Chairman and CEO Phebe Novakovic. Photo: GD

GD’s Net Income Tumbles On Charge Related To Planned Sale Of Axle Business

General Dynamics [GD] on Wednesday posted lower net income in the second quarter due to a charge related to the planned sale of an axle business it acquired in 2009. Excluding the charge related to AxleTech, GD’s earnings from continuing operations were up nearly a percent to $646 million, $1.88 earnings per share (EPS), beating [...]

The Marine Corps' short takeoff and vertical landing (STOVL) F-35B performs a vertical landing. Photo: Lockheed Martin.

Pension Income Drive Earnings Rise At Lockheed Martin In Second Quarter

Lockheed Martin [LMT] on Tuesday reported higher earnings in the second quarter due to a swing to pension income and the company increased its profit guidance for the year as a result of stronger than expected operating performance in the first half of 2014 and because of better than expected pension income in the second [...]

Orbital Sciences' Antares rocket launches July 13 for the company's Orb-2 Cargo Resupply Services (CRS) mission for NASA. Photo: Orbital.

Earnings Up, Sales Down At Orbital In Second Quarter

Orbital Sciences [ORB] on Thursday posted a slight rise in net income in the second quarter despite a modest decline in sales as an insurance recovery related to a an anomaly with one of its communications satellites that was launched in March helped boost results. Net income was up a percent to $16.5 million, 27 [...]