Rapid Fire April 24, 2013: Contractors Starting to Face Sequestration Fallout
- BAE Systems and its suppliers are lobbying the US Congress to sustain Bradley orders from the US Army and keep their production line open.
- Lockheed Martin’s Q1 2013 revenue was down 2% Y/Y to $11.1B, dragged down by the Aeronautics segment because of fewer F-16 and C-130 deliveries. They estimate sequestration could lower net sales for the year by $825M. Boeing’s sales for Q1 were down by 3% to $18.9B, with BDS at $8.1B.