Publicly traded companies, including leading aerospace and defense companies, are reporting their second quarter earnings and forecasts.

Airbus

  • Industrial system adjusted to new production levels, cash containment and business resizing on track
  • H1 financials reflect COVID-19 impact mitigated by adaptation measures
  • Revenues € 18.9 billion; EBIT Adjusted € -0.9 billion, including € -0.9 billion COVID-19 related charges
  • EBIT (reported) € -1.6 billion; loss per share (reported) € -2.45
  • Free cash flow before M&A and customer financing € -12.4 billion, € -4.4 billion in Q2
  • Strong liquidity underpins business resilience and flexibility

The Airbus press release can be found here, the slide deck here and the link to the webcast can be found here.

Boeing

  • Financial results continue to be significantly impacted by COVID-19 and the 737 MAX grounding
  • Revenue of $11.8 billion, GAAP loss per share of ($4.20) and core (non-GAAP) loss per share of ($4.79)
  • Operating cash flow of ($5.3) billion; cash and marketable securities of $32.4 billion
  • Total backlog of $409 billion, including more than 4,500 commercial airplanes

The Boeing press release can be found here, the slide deck here and the link to the webcast can be found here.

General Dynamics

  • Diluted EPS of $2.18
  • Net earnings of $625 million on revenue of $9.3 billion
  • Free cash flow conversion 100% 
  • 32 aircraft delivered despite pandemic-caused delivery challenges

The General Dynamics press release can be found here, the slide deck here and the link to the webcast can be found here.

Lockheed Martin

  • Net sales of $16.2 billion
  • Net earnings of $1.6 billion, or $5.79 per share
  • Generated cash from operations of $2.2 billion
  • Achieved record backlog of $150.3 billion
  • Increases 2020 outlook for all financial metrics

The Lockheed Martin press release can be found here, the slide deck here and the link to the webcast can be found here.

Northrop Grumman

  • Net Awards Total $14.8 Billion; 1.7 Book to Bill
  • Total Backlog Increases to $70.0 Billion
  • Sales Increase 5 Percent to $8.9 Billion
  • EPS Increase 19 Percent to $6.01
  • Cash from Operations Increases 45 Percent to $2.3 Billion
  • Free Cash Flow Increases 53 Percent to $2.1 Billion
  • 2020 Guidance Raised; Company Now Expects Sales of $35.3 to $35.6 Billion, MTM adjusted EPS1of $22.00 to $22.40, and Free Cash Flow1 of $3.15 to $3.55 Billion

The Northrop Grumman press release can be found here, the slide deck here and the link to the webcast can be found here.

Raytheon Technologies

  • Sales of $14.1 billion
  • Adjusted sales of $14.3 billion
  • GAAP EPS from continuing operations of a loss of $2.56 and included $2.96 of net significant and/or non-recurring charges and acquisition accounting adjustments
  • Adjusted EPS of $0.40
  • Operating cash flow from continuing operations of $210 million
  • Free cash flow of an outflow of $248 million
  • Achieved ~$600 million of cost reduction and ~$1 billion of cash conservation actions
  • Combined book-to-bill ratio of 1.20 at RIS and RMD segments

The Raytheon Technologies press release can be found here, the slide deck here and the link to the webcast can be found here.

Textron

  • Cash flow from operations of $245 million
  • Bell revenue up 7% from prior year, operating margin of 14.4%
  • Textron Systems revenue up 6% from prior year, operating margin of 11.3%
  • Restarted manufacturing operations at Aviation and Industrial segments

The Textron press release can be found here, the slide deck here and the link to the webcast can be found here.

This article will continue to be updated as other companies announce their earnings.