Publicly-traded companies, including aerospace and defense companies, have recently released their second quarter earnings and forecasts. Among them:

Boeing (BA)

  • Continue to engage global regulators and customers on safe return to service of the 737 MAX
  • Recorded charge and increased costs related to the 737 MAX, as previously announced
  • Revenue of $15.8 billion reflecting 737 MAX impacts and higher defense and services volume
  • Loss of ($5.21) per share (GAAP) and core (non-GAAP)* loss of ($5.82) per share
  • Operating cash flow of ($0.6) billion; paid $1.2 billion of dividends
  • Total backlog of $474 billion, including more than 5,500 commercial airplanes
  • Cash and marketable securities of $9.6 billion provide strong liquidity
  • Previously issued 2019 guidance does not reflect 737 MAX impacts; new guidance to be issued at a future date

Boeing’s press release is here – https://boeing.mediaroom.com/2019-07-24-Boeing-Reports-Second-Quarter-Results

Boeing’s slide deck presentation is here – https://s2.q4cdn.com/661678649/files/doc_presentations/2019/07/2Q19-Presentation.pdf

Boeing’s conference call information is here – https://investors.boeing.com/investors/events-and-presentations/event-details/2019/Q2-2019-The-Boeing-Company-Earnings-Conference-Call/default.aspx

General Dynamics (GD)

  • Revenue of $9.6 billion, up 4% year-over-year
  • Diluted earnings per share of $2.77, up 5.7% year-over-year
  • Gulfstream G600 achieves FAA certification

GD’s press release is here – https://www.gd.com/en/Articles/2019/07/24/general-dynamics-reports-second-quarter-2019-results

GD’s webcast is here – https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fwww.gd.com%2F&eventid=2021077&sessionid=1&key=C3140ACABA78D001D491A22B30E5BB78&regTag=&sourcepage=register

GD’s Q2 Earnings Conference Call slide deck is here – https://s22.q4cdn.com/891946778/files/doc_financials/2019/q2/2Q19-GD-Earnings-Highlights-and-Outlook.pdf

Leidos (LDOS)

  • Revenues: $2.73 billion, year-over-year growth of 8%
  • Diluted Earnings per Share: $0.93; Non-GAAP Diluted Earnings per Share: $1.16
  • Net Bookings: $3.0 billion (book-to-bill ratio of 1.1)
  • Increases quarterly dividend by 6% to $0.34 per share

Leidos’ Q2 Earnings press release is here – https://investors.leidos.com/news-and-events/news-releases/press-release-details/2019/Leidos-Holdings-Inc-Reports-Second-Quarter-Fiscal-Year-2019-Results/default.aspx

Leidos’ Q2 Earnings Conference Call slide deck is here – https://s22.q4cdn.com/107245822/files/doc_financials/2019/q2/Leidos-2Q19-Earnings-Presentation_FINAL.pdf

Lockheed Martin (LMT)

  • Achieved Sales of $14.4 Billion
  • Achieved Segment Operating Profit* of $1.6 Billion and
  • Earnings Per Share of $5.00
  • Generated $1.7 Billion in Cash From Operations
  • Returned ~$840 Million of Cash to Stockholders
  • Achieved Record Backlog of $137 Billion
  • Updated 2019 Outlook for Sales, Operating Profit,
  • Earnings Per Share, and Cash from Operations

Lockheed Martin’s press release is here – https://news.lockheedmartin.com/2019-07-23-Lockheed-Martin-Reports-Second-Quarter-2019-Results?_ga=2.106533258.869660645.1563884062-549308367.1563884062

Lockheed Martin’s Earnings call slide deck is here – https://news.lockheedmartin.com/download/LMT-July-2019-Conf-Call-Webcharts-Final.pdf

Northrop Grumman (NOC)

  • Net Awards Total $13.5 Billion; Book-to-Bill of 1.6
  • Backlog Increases 10 Percent to $63 Billion
  • Sales Increase 19 Percent to $8.5 Billion
  • Operating Income Increases 16 Percent
  • Segment Operating Income Increases 26 Percent
  • EPS Increase 12 Percent to $5.06
  • Cash from Operations Totals $1.6 Billion; Free Cash Flow1 Totals $1.4 Billion
  • 2019 MTM-adjusted EPS1 Guidance Increased to $19.30 to $19.55

NOC’s Q2 press release is here – http://investor.northropgrumman.com/static-files/10ec3e3a-f746-4d58-89be-96ffa67616f9

NOC’s Q2 slide deck is here – http://investor.northropgrumman.com/static-files/c69d36fa-fe0c-49b5-910e-bf5120c4ef1d

NOC’s Q2 webcast is here – http://investor.northropgrumman.com/events/event-details/q2-2019-northrop-grumman-earnings-conference-call

Raytheon (RTN)

  • Record bookings of $9.5 billion; book-to-bill ratio of 1.32
  • Strong net sales of $7.2 billion, up 8.1 percent
  • EPS from continuing operations of $2.92, up 5.0 percent
  • Operating cash flow from continuing operations of $823 million
  • Increased full-year 2019 guidance for sales, EPS and operating cash flow
  • Merger activities progressing well for previously announced merger of Raytheon and United Technologies; expected close remains on track for first half of 2020

The Raytheon Q2 press release is here – http://raytheon.mediaroom.com/2019-07-25-Raytheon-Reports-Strong-Second-Quarter-2019-Results

The Raytheon Q2 side deck is here – http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDIwNTgwfENoaWxkSUQ9LTF8VHlwZT0z&t=1&cb=636996036378019482

The Raytheon Q2 webcast is here – https://edge.media-server.com/mmc/p/ddknhyoi

Spirit AeroSystems (SPR)

  • Revenue of $2.0 billion, up 10% y/y
  • Earnings per share (EPS) of $1.61, up 23% y/y; Adjusted EPS* of $1.71, up 5% y/y
  • Cash from operations of $230 million, unchanged y/y; Adjusted free cash flow* of $193 million, up 13% y/y
  • Continuing to work closely with Boeing and supply base to manage 737 MAX grounding disruption
  • European Commission approval of Asco acquisition closing delayed due to cyberattack; expected to close in Q4

Spirit AeroSystems’ Q2 Earnings press release is here – http://investor.spiritaero.com/Cache/1500122352.PDF?O=PDF&T=&Y=&D=&FID=1500122352&iid=4831679

Spirit AeroSystems’ Q2 Earnings slide deck is here – http://investor.spiritaero.com/Cache/1500122354.PDF?O=PDF&T=&Y=&D=&FID=1500122354&iid=4831679

Spirit AeroSystems’ Q2 Earnings webcast is here – https://services.choruscall.com/links/spr190731.html

United Technologies (UTX)

  • Sales of $19.6 billion, up 18 percent versus prior year including 6 percent organic growth
  • GAAP EPS of $2.20, down 14 percent versus prior year driven by the absence of the Taylor divestiture gain in Q2 2018
  • Adjusted EPS of $2.20, up 12 percent versus prior year

UTC’s press release is here: https://ir.utc.com/static-files/d1eede7e-671b-4472-be40-72df4d4cb390

UTC’s Earnings call briefing is here — https://ir.utc.com/static-files/36ca9723-3064-4054-aedd-dcafb10d1135