General Dynamics, Boeing's defense business and Northrop Grumman today all reported sales boosts in the most recent quarter.
General Dynamics said sales in its most recent quarter hit $9.3 billion, up about 23% from the same three-month period a year earlier. The company last year acquired CSRA.
The contractor's quarterly profit reached $745 million, down almost 7% from the prior year.
In a call with analysts this morning, Phebe Novakovic, General Dynamics' chief executive, said the company is making investments in each of its shipyards as a result of higher demand from the Navy.
Additionally, she said General Dynamics is seeing the Army both modernize its existing fleet and look to new platforms.
“Stryker and Abrams have seen considerable increases in their budget funding lines because the Army needs those vehicles,” Novakovic said. “We think those two franchises for us are in very good stead.”
Meanwhile, Boeing's defense, space and security unit announced its quarterly sales hit $6.6 billion, up about 2% from the same period a year earlier.
The business' quarterly profit reached $847 million, up 12% from the prior year.
Boeing attributed the sales boost to “higher volume across satellites, weapons and surveillance aircraft partially offset by lower C-17 volume.”
Northrop Grumman said sales in its most recent quarter reached $8.2 billion, up 22% from a year earlier, buoyed by the company's acquisition of Orbital ATK.
The company's quarterly profit reached $863 million, up 3% from the same period the prior year.
The company's technology services business recorded quarterly sales of $977 million, down 15% from the prior year. Northrop said the decline was “primarily due to program completions across the sector.”
“Global Services sales declined principally due to the completion of a state and local services contract and certain defense services contracts, largely the [Joint National Integration Center Research and Development Contract] program,” the company added. “Global Logistics and Modernization sales declined primarily due to the completion of a manned aircraft sustainment program, KC-10, partially offset by sales growth on strategic and electronic systems sustainment programs.”
Earlier this year, Northrop said it had consolidated two groups within the unit as it seeks to shift the business into higher-end work.