These 16 US Big Defense Contractor generated Total Earnings growth of 8% in the 2Q 2013 over the 2Q 2012.
Many of these Defense Contractor Corps have robust common stock buyback programs. Thus the total EPS growth will exceed this 8% total earnings growth. For instance, Northrop Grumman's 1.7% earnings growth turns into a 9.0% EPS growth.
US Dept of Defense Secretary Chuck Hagel has done an exceptional job in wisely and creatively finding ways to reduce the US Dept of Defense Budget to significantly reduce the number of furloughed days of Dept of Defense civilian employees.
But is it really fair for so many of the US Big Defense Contractors to continue to generate excellent earnings increases during the US Congress-mandated sequester spending cuts?
Below here are the earnings of these 16 US Big Defense Contractor Corps for the 2Q 2013 and for the comparable 2Q 2012:
| 2Q 2013 | 2Q 2012 | |||
| Net | Net | |||
| Income | Income | |||
| From | e | |||
| Continuing | Continuing | Increase | Increase | |
| Operations | Operations | (Decrease) | (Decrease) | |
| mil $s | mil $s | Amount | % | |
| Big US Defense Contractors | ||||
| Big 4 | ||||
| Lockheed Martin | 859 | 781 | 78 | 10% |
| General Dynamics | 640 | 634 | 6 | 1% |
| Raytheon | 493 | 471 | 22 | 5% |
| Northrop Grumman | 488 | 480 | 8 | 2% |
| Total Big 4 | 2,480 | 2,366 | 114 | 5% |
| Remaining 12 | ||||
| United Technologies | 1,552 | 1,466 | 86 | 6% |
| Boeing | 1,289 | 1,128 | 161 | 14% |
| Honeywell | 1,021 | 902 | 119 | 13% |
| L-3 Communications | 436 | 342 | 94 | 27% |
| Textron | 185 | 191 | (6) | -3% |
| Harris Corp | 164 | 166 | (2) | -1% |
| Rockwell Collins | 161 | 161 | - | 0% |
| SAIC | 154 | 162 | (8) | -5% |
| Precision Castparts | 141 | 17 | 124 | 729% |
| Fluor | 114 | 172 | (58) | -34% |
| KBR | 90 | 104 | (14) | -13% |
| CSC | 81 | 117 | (36) | -31% |
| Total Remaining 12 | 5,388 | 4,928 | 460 | 9% |
| Grand Total all 16 | 7,868 | 7,294 | 574 | 8% |
