Tag: Aerospace and Defense

Boeing factory workers voted to reject a contract offer and continue a more than five-week strike on Wednesday, in a blow to new CEO Kelly Ortberg’s plan to shore up the finances of the struggling planemaker.

The industrial conglomerate on Thursday announced third-quarter adjusted earnings per share of $2.58 from sales of $9.7 billion. Wall Street was looking for earnings of $2.51 a share from sales of $9.9 billion.

U.S. defense company Northrop Grumman on Thursday raised its 2024 profit forecast for the second time, amid increased global defense spending prompted by conflicts in the Middle East and the protracted Russia-Ukraine war.

Boeing Co.’s stock was slightly lower Wednesday, after the troubled aerospace giant’s third-quarter earnings showed better-than-expected revenue despite the impact of a strike by machinists, weighing against a wider-than-expected loss.

German arms maker Rheinmetall will produce gun barrels in the UK as part of a sweeping new defence pact between Berlin and London aimed at deepening military co-operation and bolstering support for Ukraine.

RTX on Tuesday raised its 2024 adjusted profit and sales forecasts for the second time, citing strong demand for aircraft repairs and defense systems, and reported better-than-expected quarterly earnings.

GE Aerospace reported better-than-expected quarterly earnings, and raised full-year financial guidance.

Tuesday morning, Lockheed reported third-quarter earnings per share of $6.80 from sales of $17.1 billion. Wall Street was looking for earnings per share of about $6.50 from sales of $17.4 billion, according to FactSet.

 Boeing is expected to book more than $1 billion in wage-related expenses from its proposed labor contract, analysts said, although its shares rose 4% on Monday on hopes of an end to a crippling strike.

Italian defence group Leonardo will finalise a joint venture with Germany’s Rheinmetall on Tuesday, its Chief Executive Roberto Cingolani said on Monday.

Boeing stock was retreating in premarket trading Monday after dropping some big news on Friday evening

The Atlanta-based carrier on Thursday forecast fourth-quarter adjusted earnings of $1.60 to $1.85 per share, compared with Wall Street estimates of $1.71, according to LSEG, and above the adjusted $1.28 per share it reported a year earlier.

Airbus reported lower monthly deliveries late on Wednesday, putting its annual production target under pressure as supply chain struggles continue to plague the industry.

Talks between Boeing and its key manufacturing union broke down, and no negotiations are currently planned as the financially damaging strike heads into a fourth week.

Shares of industrial firm Honeywell International were rising early Tuesday after the company announced plans to shed a business.

Italian defence company Leonardo is looking at a dozen domestic and foreign companies for possible acquisitions in the cyber security sector, and could close some deals by the end of the year, its chief executive said on Tuesday.

Boeing Co. is considering raising at least $10 billion by selling new stock, as the planemaker seeks to replenish cash reserves depleted further by an ongoing strike, according to people familiar with the discussions.

The airline said it expects unit revenue to rise as much as 3% in the third quarter over the same period last year, up from a previous forecast of a decline of as much as 2%, helped in part by rebooking passengers who were originally flying airlines affected by July’s CrowdStrike outage.

Rocket Lab said on Thursday that the scheduled launch of its Electron rocket into space from a facility in New Zealand was aborted just prior to lift off due to issues with on ground support equipment.

Shares of space-exploration company Intuitive Machines are up more than 54% in premarket trades