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Key Defense Earnings for April 27: BA, GD, LDOS, LLL, NOC

As Q1 earnings season continues, more and more companies are starting to post their earnings results. Yesterday, aerospace and defense research company Lockheed Martin LMT reported impressive Q1 earnings, beating both the top and bottom lines. And on Wednesday, five more defense giants reported their first quarter fiscal 2016 earnings results before the bell. Let’s take a look.

Boeing Co. BA

Boeing, one of the largest defense contractors in the U.S., saw mixed Q1 results. Adjusted earnings per share of $1.74 missed the Zacks Consensus Estimate of $1.81. Revenues of $22.63 billion, however, topped our consensus estimate of $21.24 billion. Boeing maintained its 2016 outlook with its core earnings is expected in the range of $8.15−$8.35 per share on revenues of $93-$95 billion.

General Dynamics Corp. GD

One of two contractors to build nuclear-powered submarines, General Dynamics reported solid Q1 earnings per share of $2.34, topping the Zacks Consensus Estimate of $2.14 per share. The company has reported positive earnings surprises in the last four quarters. Revenues came in at $7.724 billion, surpassing our consensus estimate of $7.693 billion.

Leidos Holdings, Inc. LDOS

The defense and technology solutions company reported strong first quarter results, beating the Zacks Consensus Estimate on both the top and bottom lines. Earnings per share of $0.72 topped expectations of $0.68 per share, while revenues of $1.21 billion surpassed our estimate of $1.285 billion.

L-3 Communications Holdings, Inc. LLL

Defense contractor L-3 Communications saw strong Q1 results. Adjusted earnings per share came in at $2.08, soaring past the Zacks Consensus Estimate of $1.57 by 32.5%. Total revenue of $2.353 billion beat our consensus estimate of $2.339 billion but declined 5% year-over-year due to business divestitures.

Northrop Grumman Corp. NOC

Northrop Grumman, an aerospace and defense operator, reported earnings and revenue beats for Q1. Adjusted earnings per share came in at $2.11, surpassing the Zacks Consensus Estimate of $2.47 by 12.1%. Revenues of $5.956 billion edged past our consensus estimate of $5.930 billion. As a result, Northrop Grumman its 2016 earnings guidance to the range of $10.40-$10.70 per share on revenues in the range of $23.5 billion-$24 billion.

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NORTHROP GRUMMN (NOC): Free Stock Analysis Report
 
BOEING CO (BA): Free Stock Analysis Report
 
GENL DYNAMICS (GD): Free Stock Analysis Report
 
LOCKHEED MARTIN (LMT): Free Stock Analysis Report
 
L-3 COMM HLDGS (LLL): Free Stock Analysis Report
 
LEIDOS HOLDINGS (LDOS): Free Stock Analysis Report
 
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