The INSIDER daily digest -- April 24, 2024

This Wednesday INSIDER Daily Digest has news from Lockheed Martin's, Boeing's and General Dynamics' quarterly earnings calls and more.

We start off with defense contractor executives talking about their quarterly earnings:

After long wait, Lockheed to resume F-35 deliveries between July and September

Deliveries of F-35 Joint Strike Fighter aircraft are on track to resume this summer, albeit with a truncated version of Technology Refresh-3 software upgrades, top Lockheed Martin executives told shareholders during a call to discuss the company's first-quarter earnings.

Boeing's fixed-price contracts with the Air Force are still burning cash

Boeing's defense unit has logged $222 million in losses since January on two major firm fixed-price contracts with the Air Force, the KC-46A and T-7A, Chief Financial Officer Brian West told investors during a first-quarter earnings call.

GD execs: Submarine supply chain needs funding for second Virginia shipset in FY-25

With the Navy requesting only one Virginia-class submarine in fiscal year 2025, it is important that the sea service also fund a second, full shipset of Virginia materials to sustain the submarine supply chain, according to General Dynamics executives.

. . . Followed by some Navy ship news:

Navy to advance amphibious warship block buy in the coming weeks

The Navy is planning to use multiship procurement to buy four amphibious warships and aims to put the vessels on contracts within a matter of weeks, according to Navy Secretary Carlos Del Toro.

Navy wants to delay ADG system installation on DDG-51s until next generation

The Navy wants to delay the addition of an advanced degaussing system on Arleigh Burke-class destroyers and install it on the next generation of destroyers -- a move it says would provide the service flexibility to balance warfighting capabilities with the expense and schedule constraints of future destroyer procurement.

The Senate voted 79-18 late last night to pass the supplemental spending package:

Senate set to approve $95B security supplemental as defense industrial base awaits boost

Senate leaders, following the House's weekend passage of a massive national security supplemental poised to inject $50 billion into the U.S. defense sector, is taking up the spending package and hopes to pass it late tonight amid the objections of some lawmakers.