JRL NEWSWATCH: “Ukraine war orders starting to boost revenues for big U.S. defense contractors” – Reuters
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“… U.S. defense contractors … expect … existing orders for hundreds of thousands of artillery rounds, hundreds of Patriot missile interceptors and a surge in orders for armored vehicles … will underpin their results …. New contracts to supply Ukraine directly – or backfill U.S. weapons sent to Ukraine – were signed late last year … [R]evenue is flowing to the big defense contractors. Lockheed, General Dynamics and RTX [] all reported better than expected results … [E]xecutives expect … Ukraine and Israel’s war with … Hamas to drive up near-term demand. ‘We’ve gone from 14,000 (artillery) rounds per month to 20,000 very quickly. We’re working ahead of schedule to accelerate that production capacity up to 85,000, even as high as 100,000 rounds per month,’ Jason Aiken, General Dynamics’ chief financial officer, said ….”