It’s earnings week for defense contractors — here’s how industry giants did

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An F-35 Lightning II flies around the airspace of Davis-Monthan Air Force Base, Ariz., March 5, 2016. (U.S. Air Force photo/Tech. Sgt. Brandon Shapiro)

WASHINGTON – Defense industry giants, Boeing, Lockheed Martin, Northrop Grumman, and General Dynamics posted third-quarter earnings this week. Raytheon is due to report quarterly earnings on Thursday.

Here’s a look at how they did …

Boeing

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Boeing KC-46 Tanker program first test aircraft (EMD1) flies with an aerial refueling boom installed on its fifth flight. (Boeing)

The world’s largest plane manufacturer beat on earnings and raised its full-year guidance on Wednesday. Boeing posted per-share earnings of $2.72 versus $2.66 expected on Wall Street. What’s more, the aerospace giant succeeded revenue expectations with $24.3 billion versus $23.9 billion.

Boeing raised its full-year earnings between $11.20 to $11.40, which is a 10 cent increase from its previous range of $11.10 to $11.30.

Even with better-than-expected quarterly profit, forecasts are clipped due to delays in Boeing’s KC-46 aerial refueling tanker for the US Air Force. The plane remains in testing and is expected to cost an additional $329 million.

Meanwhile, Boeing continues work on the next fleet of Air Force One aircraft. Last year, Boeing won a $25.8 million US Air Force contract to replace the aging Air Force One and its twin decoy with 747-8’s for use in 2020.

Up to Tuesday’s close, Boeing‘s stock is up 70.1 percent this year.

Lockheed Martin

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An F-35B from Marine Fighter Attack Training Squadron 501, flies near its base a MCAS Beaufort, South Carolina. (Courtesy of Lockheed Martin)

Lockheed Martin shares slipped in premarket trading after the defense giant reported lower-than-expected third quarter earnings on Tuesday. The Pentagon’s top weapons supplier posted per-share earnings of $3.24 versus $3.26 expected on Wall Street.

Considered a bellwether for the US defense sector, Lockheed Martin reported a net income of $939 million compared to $1.1 billion, in Q3 of 2016.

The company, which produces the F-35 Lightning II and the THAAD missile defense system, raised its full-year net sales of $50 billion to $51.2 billion, which is up from an earlier estimate of $49.8 to $51.0 billion.

General Dynamics

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A Virginia-class submarine is seen at a General Dynamics-Electric Boat basin. (Photo courtesy of General Dynamics-Electric Boat)

The Falls Church, Virginia-based company, boasting a portfolio of Gulfstream jets, tanks, and ships, reported higher-than-expected quarterly earnings.

General Dynamics achieved earnings per share of $2.52 versus $2.44 expected on Wall Street. 

The company, which is one of two defense contractors that is equipped to build nuclear-powered submarines, missed revenues with $7.6 billion versus Wall Street estimates of $7.94 billion.

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