Earnings Week

This week marks the beginning of the quarterly earnings season for defense contractors.

United Technologies Corp.'s earnings per share during the first quarter of 2012 were up 24 percent from the same quarter last year, according to a company statement released yesterday.

Quarterly net sales for its Sikorsky helicopter segment were $1.3 billion, compared to nearly $1.6 billion the previous year, however. And UTC's Pratt & Whitney engine segment reported $3 billion in sales compared to nearly $2.9 billion the same quarter the year before, according to the company.

As for the top five U.S. defense contractors, Boeing, Northrop Grumman and General Dynamics are scheduled to release their earnings statements today; and Lockheed Martin and Raytheon on Thursday.