And these Big 4 US Defense Contrators had their total Earning Per Share (EPS) in the 1Q 2013 increase by an even more robust 8.6% over the 1Q 2012. Further, all 4 of these Big US Defense Contractors had their 1Q 2013 Earnings Per Share grow over the 1Q 2012. And EPS is what drives stock prices and is also what drives the predominant compensation of these companies' top executives.
The same positive economic effect didn't happen to US Government Employees. In fact, just the opposite, with their earnings sharply curtailed across the board by incompetent US Congress Sequester action.
Further, there are so many critical US Government Non-Defense programs which have been cut dramatically by the Sequester.
Just where is the fairness here, where the Big 4 US Defense Contractors generate very robust earnings growth under the Sequester, while at the same time so many US citizens and key US programs suffer severely under the Sequester?
What the US Congress has done here will go down in US history as one of the craziest initiatives ever enacted.....and so harmful to the country.
Below here is the GAAP Earnings and EPS for the 1Q 2013 and the 1Q 2012 for each of these Big 4 US Defense Contractors:
| GAAP | GAAP | ||||
| 1Q | 1Q | Net | Net | ||
| 2013 | 2012 | Income | Income | ||
| GAAP | GAAP | Increase | Increase | EPS | |
| Net | Net | (Decrease) | (Decrease) | Increase | |
| Income | Income | Amount | % | % | |
| mils of $s | mils of $s | mils of $s | |||
| Big 4 US Defense Contractors | |||||
| Lockheed Martin | 761 | 668 | 93 | 13.9% | 14.8% |
| General Dynamics | 571 | 564 | 7 | 1.2% | 3.2% |
| Raytheon | 490 | 450 | 40 | 8.9% | 12.0% |
| Northrop Grumman | 489 | 506 | (17) | -3.4% | 3.6% |
| Total all 4 | 2,311 | 2,188 | 123 | 5.6% | 8.6% |
