Ukraine war orders beginning to boost revenues for big US defence contractors
1 year, 1 month ago

Ukraine war orders beginning to boost revenues for big US defence contractors

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US defence contractors such as Lockheed Martin, General Dynamics and others expect that existing orders for hundreds of thousands of artillery rounds, hundreds of Patriot missile interceptors and a surge in orders for armoured vehicles expected soon will boost their results in coming months The Russian invasion of Ukraine in 2022 is starting to boost defence contractors’ revenues, as customers such as the US government restock supplies shipped to Ukraine and countries around Europe arm themselves with an eye on Moscow’s aggressions. US defence contractors such as Lockheed Martin, General Dynamics and others expect that existing orders for hundreds of thousands of artillery rounds, hundreds of Patriot missile interceptors and a surge in orders for armoured vehicles expected in the months ahead will underpin their results in coming quarters. “And I think the Israel situation is only going to put upward pressure on that demand.” The General Dynamics’ Combat Systems unit, which makes armoured vehicles, tanks and the artillery Ukraine uses, saw its revenue rise almost 25% versus the same period a year ago. RTX, which makes AMRAAM rockets used in Ukraine, said on Tuesday’s earnings call with Wall Street analysts it has received $3 billion of orders since Russia’s February 2022 invasion that are related to replenishing Ukraine and US war stocks, and the company expects more.

History of this topic

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