Archive: Business/Financial

USS George Washington (CVN 73). Photo: U.S. Navy.

Lower Taxes, Pension Gain Push Earnings Higher At Huntington Ingalls

Lower taxes, the gift that just keeps giving this year for corporations, combined with a pension benefit, propelled Huntington Ingalls Industries [HII] to a hefty increase in earnings despite a dip in operating profit at the segment level. Net income soared 63 percent to $239 million, $5.40 earnings per share (EPS), from $147 million ($3.21 […]

Christopher Kubasik, L3 Technologies Chairman, President and CEO. Photo: L3 Technologies

L3 Establishes Business Segment To Focus On ISR, Bolster Growth And Boost Margins

As part of L3 Technologies’ [LLL] major transformation plans this year, the company on Thursday said it has consolidated its Aerospace Systems and Sensors Systems business segment into one focused on intelligence, surveillance and reconnaissance (ISR) solutions for customers worldwide. The $4.7 billion Texas-based ISR Systems segment supplies sensor solutions from the “ocean floor to […]

Mark Aslett, president and CEO of Mercury Systems. Photo: Mercury Systems

Mercury Systems Acquires Rugged Computer Maker Germane Systems

Mercury Systems [MRCY] on Tuesday said it has acquired rugged computer maker Germane Systems for $45 million in cash, adding additional capabilities and customers in the U.S. and international defense markets for C4I subsystems. Mercury President and CEO Mark Aslett said in a statement that combined with its $180 million acquisition earlier this year of […]

iStock Cyber Lock

CGI Wins $530 Million Cyber Security Contract To Protect Federal Agencies

The U.S. federal business of Canada’s GGI Group [GIB] on Monday said it received a potential six-year, $530 million contract from the U.S. General Service Administration (GSA) to provide federal agencies with cyber security capabilities under the Continuous Diagnostics and Mitigation (CDM) program. CGI Federal won the CDM DEFEND Group C award, which covers several […]

Chris Kubasik, chairman, president and CEO of L3 Technologies. Photo: L3

L3 Reports Solid Sales In Second Quarter; Preparing To Consolidate

L3 Technologies [LLL] on Thursday reported higher sales in its second quarter driven by organic growth while earnings results were a bit mixed given gains from sales from various business units as well as a debt retirement charge. Net income was $375 million, $4.72 earnings per share (EPS), up 86 percent from $202 million ($2.54 […]

Raytheon’s Earnings Soar In Second Quarter On Lower Taxes, Pension Benefit

Lower taxes combined with a pension tailwind powered Raytheon [RTN] to a huge boost in earnings in its second quarter and the company also posted solid top line growth. Raytheon, like all the major defense companies that have reported second quarter results this week, benefited handsomely from the lower corporate tax rate that went into […]

A KC-46 tanker refuels an F/A-18 fighter during testing. (Boeing photo)

Lower Taxes, Commercial Aircraft Business Drive Strong Earnings At Boeing

Boeing [BA] on Wednesday posted higher earnings in the second quarter due to lower taxes, higher operating profit at its commercial aircraft business, and to a lesser extent its year-old services segment, and sales were also higher on gains across all the company’s segments. Boeing generated the higher profit despite a previously disclosed charge related […]

General Dynamics Chairman and CEO Phebe Novakovic. Photo: General Dynamics

GD’s Second Quarter Earnings Rise On Lower Taxes

Lower taxes and improved operating profits more than offset higher costs related to a recent acquisition as General Dynamics [GD] on Wednesday posted higher earnings and sales in its second quarter. GD said net income increased 5 percent to $786 million, $2.62 earnings per share (EPS), from $749 million ($2.45 EPS) a year ago, topping […]

Lockheed Martin Chief Financial Officer Bruce Tanner. Photo: Lockheed Martin

Lockheed Martin Posts Strong Second Quarter Results; Raises Guidance

Lockheed Martin [LMT] on Tuesday reported strong second quarter financial results driven by higher sales, lower taxes, a pension benefit and improved operating performance. Net income increased 26 percent to $1.2 billion, $4.05 earnings per share (EPS), from $955 million ($3.28 EPS) a year ago, topping consensus estimates by 13 cents per share. Earnings were […]