Contractors report sales, profit increases

July 30, 2020

By Marjorie Censer

Several defense contractors this week said sales rose during the most recent quarter, despite the ongoing pandemic.

ManTech International reported Wednesday sales in its most recent quarter reached nearly $633 million, up almost 18% from the same three-month period the prior year.

The contractor's quarterly profit was just shy of $30 million, up about 24% from a year earlier.

ManTech attributed the sales growth to recent contract awards.

Meanwhile, Oshkosh said this week sales in its defense segment during the most recent quarter hit $548 million, up 7% from the same three-month period a year earlier.

The company attributed the growth to the "continued ramp up of Joint Light Tactical Vehicle program sales to the U.S. government and higher aftermarket parts & service sales."

However, Oshkosh said it saw lower sales of its Family of Heavy Tactical Vehicles.

The defense unit reported quarterly profit of $40 million, up almost 36% from the prior year.

At Textron's Bell unit, quarterly sales rose 7% to reach $822 million, "primarily on higher military volume." The unit's quarterly profit was up about 15% to hit $118 million, also as a result of military sales.

Textron Systems reported quarterly sales of $326 million, up 6% from the prior year, "primarily due to higher volume in our Unmanned Systems product line, partially offset by lower volume in the Marine and Land Systems product line."

However, the unit's quarterly profit was down 24% at $37 million.