Friday, April 19, 2024
Friday, April 19, 2024
This Wednesday INSIDER Daily Digest has coverage of defense contractors' quarterly earnings and more.
General Dynamics executives discusses the company's quarterly earnings this week:
GD: Shipbuilding remains profitable despite labor and supply chain challenges
General Dynamics executives this week reported a profitable third quarter that was largely unimpeded by supply chain challenges and shipyard labor shortages.
GD: Russia-sparked demand boost has become reality
General Dynamics executives on Wednesday suggested that demand increases sparked by Russia’s invasion of Ukraine have grown more concrete during the previous quarter, as eastern European countries seek to bolster inventories of ground vehicles, munitions and bridge systems.
. . . as did Raytheon:
Raytheon reports lower Q3 military sales; 'hand-to-mouth' supply chain through 2024
Raytheon Technologies reported a decline in military business sales in the third quarter of 2022 in the company's earnings call this morning, a problem largely attributed to supply chain woes that are expected to last into 2024.
. . . and Boeing:
Boeing Defense records major losses, pointing at KC-46A and VC-25B fixed-price contracts
Boeing lost $2.8 billion from its Defense, Space and Security business in the third quarter from fixed-price development programs, according to the company's earnings report, because of continuously rising supply chain and manufacturing costs along with "technical challenges."
The Pentagon has set up a new acquisition, integration and interoperability office:
DOD standing up new office to integrate JADC2 across the military
Pentagon leaders are working to stand up a new office that aims to tackle the process of integrating the military service-led efforts to achieve Joint All-Domain Command and Control across the Defense Department.
Over the past year, the Navy has run eight test events bringing classified information into the live, virtual and constructive network environment:
Navy testing highly classified information in LVC training environment
Citing the Navy's struggle to fully exercise its capabilities, Commander of Naval Information Forces Vice Adm. Kelly Aeschbach hopes to put highly classified information into the service's live, virtual and constructive network to better employ technology and train sailors.
News on the Long Range Hypersonic Weapon program:
Army pivots from OTA to FAR for follow-on work in Long Range Hypersonic Weapon effort
The Army is upending its acquisition strategy for Long Range Hypersonic Weapon ground equipment -- the vehicles and associated support gear needed for a second and third battery -- after the presumed prime contractor, Lockheed Martin, elected in May not to submit a sole-source proposal.
Pentagon research and engineering chief Heidi Shyu spoke at a conference in Atlanta, GA, hosted by the Defense Advanced Research Projects Agency this week:
Shyu to make case this week to fund FY-24 tech 'sprints'
Defense Department technology chief Heidi Shyu said today she will be participating in a special Pentagon meeting this week to determine the fiscal year 2024 budget profile for future experimentation "sprints" intended to rapidly assess new military technology.