The War In Ukraine Is Finally Starting To Pay Off For Big Defense Contractors
Posted on AllSides January 24th, 2023
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ROSLAN RAHMAN/AFP via Getty Images
The two largest U.S. defense contractors saw a boost in sales as the Pentagon accelerated weapons orders to fill the gap left by billions in weapons and equipment sent to Ukraine, the companies said Tuesday.
Lockheed Martin and Raytheon Technologies posted fourth quarter 2022 earnings Tuesday that came in still slightly below earnings from the same period in 2021, attributing the downturn to labor shortages and supply chain issues that suppressed earnings throughout 2022, statements show. However, the two largest beneficiaries of $6.6 billion in Department of Defense (DOD) contracts...
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