Latest news with #Nimitz-class
Yahoo
a day ago
- Business
- Yahoo
Q1 Rundown: Northrop Grumman (NYSE:NOC) Vs Other Defense Contractors Stocks
Earnings results often indicate what direction a company will take in the months ahead. With Q1 behind us, let's have a look at Northrop Grumman (NYSE:NOC) and its peers. Defense contractors typically require technical expertise and government clearance. Companies in this sector can also enjoy long-term contracts with government bodies, leading to more predictable revenues. Combined, these factors create high barriers to entry and can lead to limited competition. Lately, geopolitical tensions–whether it be Russia's invasion of Ukraine or China's aggression towards Taiwan–highlight the need for defense spending. On the other hand, demand for these products can ebb and flow with defense budgets and even who is president, as different administrations can have vastly different ideas of how to allocate federal funds. The 13 defense contractors stocks we track reported a strong Q1. As a group, revenues beat analysts' consensus estimates by 1.6% while next quarter's revenue guidance was in line. In light of this news, share prices of the companies have held steady as they are up 1.5% on average since the latest earnings results. Responsible for the development of the first stealth bomber, Northrop Grumman (NYSE:NOC) specializes in providing aerospace, defense, and security solutions for various industry applications. Northrop Grumman reported revenues of $9.47 billion, down 6.6% year on year. This print fell short of analysts' expectations by 4.7%. Overall, it was a disappointing quarter for the company with full-year EPS guidance missing analysts' expectations. Northrop Grumman delivered the weakest performance against analyst estimates and slowest revenue growth of the whole group. The stock is down 9.9% since reporting and currently trades at $478.25. Read our full report on Northrop Grumman here, it's free. Formed through the split of IT services company SAIC, Leidos (NYSE:LDOS) offers technology and engineering solutions such as military training systems for the defense, civil, and health markets. Leidos reported revenues of $4.25 billion, up 6.8% year on year, outperforming analysts' expectations by 3.6%. The business had a very strong quarter with an impressive beat of analysts' backlog and EBITDA estimates. However, the results were likely priced into the stock as it's traded sideways since reporting. Shares currently sit at $147.50. Is now the time to buy Leidos? Access our full analysis of the earnings results here, it's free. Building Nimitz-class aircraft carriers used in active service, Huntington Ingalls (NYSE:HII) develops marine vessels and their mission systems and maintenance services. Huntington Ingalls reported revenues of $2.73 billion, down 2.5% year on year, falling short of analysts' expectations by 2.1%. It was a mixed quarter as it posted an impressive beat of analysts' EPS estimates but a significant miss of analysts' adjusted operating income estimates. As expected, the stock is down 2.8% since the results and currently trades at $223.51. Read our full analysis of Huntington Ingalls's results here. Known for projects like the construction of Guantanamo Bay, KBR provides professional services and technologies, specializing in engineering, construction, and government services sectors. KBR reported revenues of $2.06 billion, up 13% year on year. This print lagged analysts' expectations by 1.4%. In spite of that, it was a strong quarter as it produced a solid beat of analysts' EBITDA estimates. The stock is up 1.2% since reporting and currently trades at $52.18. Read our full, actionable report on KBR here, it's free. Developing submarine detection systems for the U.S. Navy, Leonardo DRS (NASDAQ:DRS) is a provider of defense systems, electronics, and military support services. Leonardo DRS reported revenues of $799 million, up 16.1% year on year. This result surpassed analysts' expectations by 9.2%. Overall, it was a very strong quarter as it also produced a solid beat of analysts' adjusted operating income estimates and an impressive beat of analysts' EPS estimates. Leonardo DRS scored the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 12.8% since reporting and currently trades at $41.68. Read our full, actionable report on Leonardo DRS here, it's free. Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Sign in to access your portfolio
Straits Times
4 days ago
- Entertainment
- Straits Times
Nothing is Impossible: Tom Cruise really did get a US aircraft carrier for his latest Mission
Tom Cruise (left) meets sailors aboard the Nimitz-class aircraft carrier USS George H.W. Bush during a visit to the ship on March 2, 2023. PHOTO: NOVALEE MANZELLA/US NAVY Nothing is Impossible: Tom Cruise really did get a US aircraft carrier for his latest Mission For fans of Tom Cruise's Mission: Impossible series, the Pentagon can answer the incredulous question at the climax of its latest trailer: 'You gave him an aircraft carrier?' Yes, the US Navy and Air Force Special Operations Command decided to accept the mission: help the American actor's secret agent Ethan Hunt save the world. Or, at least make a movie about it. For The Final Reckoning, which is showing in Singapore cinemas, Cruise and the crew spent three days in the Adriatic Sea filming aboard the USS George H.W. Bush, a nuclear-powered Nimitz-class carrier commissioned in 2009. It is the latest cinematic incarnation of Cruise's career-long affinity for the US military and its aircraft (as well as doing his own stunts). It is an example of the Pentagon's willingness to showcase its hardware and martial might through a classic piece of American soft power, the Hollywood blockbuster. The Pentagon has a long history as a supporting character, most famously the 1990 spy thriller The Hunt For Red October – the one where Scotsman Sean Connery plays a Soviet submarine captain. Before getting on board, the US Department of Defense reviews scripts for accuracy and depictions of the military. (The Pentagon declined, for instance, to support Oliver Stone's Oscar-winning 1986 Vietnam War drama Platoon.) The US military charges for equipment use, as well as transportation and lodging for personnel. For 2022's Top Gun: Maverick, for example, the Navy was paid as much as US$11,374 (S$14,600) an hour to use its F/A-18 Super Hornets – which Cruise could not control as he flew in the fighter jet's back seat. For The Final Reckoning, however, movie studio Paramount's reported blowout budget of US$400 million got a break because the carrier and crew were already on scheduled training missions. 'Most, if not all, of the aircraft time was logged as official training requirements, and therefore not reimbursable,' the Pentagon said in a statement. The cast and crew – including Cruise, co-star Hannah Waddingham and director Christopher McQuarrie – were ferried to the carrier aboard Sikorsky Aircraft Corp MH-60S Seahawks, flown by the Helicopter Sea Combat Squadron 5 based in Norfolk, Virginia. While aboard from Feb 28 to March 3, 2023, Cruise hosted a Top Gun: Maverick viewing in the ship's hangar bay and visited sailors , who had been deployed for about six months at that time. 'Given that we were on deployment, operational and safety plans were in place so that if called upon, we were ready to execute our mission on a moment's notice,' spokesman Lieutenant Commander Matthew Stroup said in the statement. The crew filmed flight sequences, a scene in the navigation bridge and Hunt's departure aboard a CV-22 Osprey tiltrotor aircraft, from the 352nd Special Operations Wing out of Souda Bay, Crete, which was on a joint training exercise with the carrier group. The film 'supplemented the already scheduled training and did not interfere with any requirements', said Air Force Special Operations Command spokeswoman Lieutenant Colonel Rebecca Heyse. The USS Hyman G. Rickover, a Virginia-class attack submarine, makes a cameo, shot off the coast of Massachusetts. The interiors, however, were pure Hollywood: stage sets and actors for sailors. They did, however, have the help of a Navy representative and a retired submarine commander as a technical adviser. 'Being able to namecheck an aircraft carrier that you've filmed on lends a dimension of accuracy to the film that elevates it,' Paramount said, referencing a scene in which Hunt specifically requests the Bush carrier. The Pentagon's support 'lends authenticity to the military involvement necessary to help Ethan Hunt accomplish his mission'. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
7 days ago
- Entertainment
- Business Times
Tom Cruise really did get a US aircraft carrier for this mission
[WASHINGTON] For fans of Tom Cruise's Mission: Impossible series, the Pentagon can answer the incredulous question at the climax of its latest trailer: 'You gave him an aircraft carrier?' Yes, the US Navy and Air Force Special Operations decided to accept the mission: help Cruise's secret agent Ethan Hunt save the world. Or, at least make a movie about it. For Paramount Global's The Final Reckoning, released on Friday (May 23) in the US, Cruise and the crew spent three days in the Adriatic Sea filming aboard the USS George HW Bush, a nuclear powered Nimitz-class carrier commissioned in 2009. It's the latest cinematic incarnation of Cruise's career-long affinity for the US military and its aircraft (as well as doing his own stunts). It's also an example of the Pentagon's willingness to showcase its hardware and martial might through a classic piece of American soft power, the Hollywood blockbuster. The Pentagon has a long history as a supporting character, most famously the 1990 spy thriller The Hunt for Red October – the one where Scotsman Sean Connery plays a Soviet submarine captain. Before getting on board, the Defense Department reviews scripts for accuracy and depictions of the military. (The Pentagon declined, for instance, to support Oliver Stone's multi-Oscar-winning Vietnam War drama Platoon.) A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up The US military also charges for equipment use, as well as transportation and lodging for personnel. For 2022's Top Gun: Maverick, for example, the Navy was paid as much as US$11,374 an hour to use its F/A-18 Super Hornets – which Cruise could not control as he flew in the fighter jet's backseat. For The Final Reckoning, however, Paramount's reported blowout budget of US$400 million got a break because the carrier and crew were already on scheduled training missions. 'Most, if not all, of the aircraft time was logged as official training requirements, and therefore not reimbursable,' the Pentagon said in a statement. The cast and crew – including Cruise, co-star Hannah Waddingham and director Christopher McQuarrie – were ferried to the carrier aboard Sikorsky Aircraft MH-60S Seahawks, flown by the Helicopter Sea Combat Squadron 5 based in Norfolk, Virginia. While aboard from Feb 28 to Mar 3, 2023, Cruise hosted a Top Gun: Maverick viewing in the ship's hangar bay and visited with sailors, who had been deployed for about six months at that time, the Navy said in a statement on Friday. 'Given that we were on deployment, operational and safety plans were in place so that if called upon, we were ready to execute our mission on a moment's notice,' spokesperson Lieutenant Commander Matthew Stroup said in the statement. The crew also filmed flight sequences, a scene in the navigation bridge and Hunt's departure aboard a CV-22 Osprey tiltroter aircraft, from the 352nd Special Operations Wing out of Souda Bay, Crete, which was on a joint training exercise with the carrier group. The film 'supplemented the already scheduled training and did not interfere with any requirements', said Air Force Special Operations Command spokesperson Lieutenant Colonel Rebecca Heyse. The USS Hyman G Rickover, a Virginia-class attack submarine, also makes a cameo, shot off the coast of Massachusetts. The interiors, however, were pure Hollywood: stage sets and actors for sailors. They did, however, have the help of a Navy representative and a retired submarine commander as a technical adviser. 'Being able to namecheck an aircraft carrier that you have actually filmed on lends a dimension of accuracy to the film that elevates it,' Paramount said in a response to questions, referencing a scene where Cruise's Hunt specifically requests the Bush carrier. The Pentagon's support 'lends authenticity to the military involvement necessary to help Ethan Hunt accomplish his mission'. BLOOMBERG
Yahoo
14-05-2025
- Business
- Yahoo
Defense Contractors Stocks Q1 Highlights: Huntington Ingalls (NYSE:HII)
Quarterly earnings results are a good time to check in on a company's progress, especially compared to its peers in the same sector. Today we are looking at Huntington Ingalls (NYSE:HII) and the best and worst performers in the defense contractors industry. Defense contractors typically require technical expertise and government clearance. Companies in this sector can also enjoy long-term contracts with government bodies, leading to more predictable revenues. Combined, these factors create high barriers to entry and can lead to limited competition. Lately, geopolitical tensions–whether it be Russia's invasion of Ukraine or China's aggression towards Taiwan–highlight the need for defense spending. On the other hand, demand for these products can ebb and flow with defense budgets and even who is president, as different administrations can have vastly different ideas of how to allocate federal funds. The 13 defense contractors stocks we track reported a strong Q1. As a group, revenues beat analysts' consensus estimates by 1.6% while next quarter's revenue guidance was in line. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. Building Nimitz-class aircraft carriers used in active service, Huntington Ingalls (NYSE:HII) develops marine vessels and their mission systems and maintenance services. Huntington Ingalls reported revenues of $2.73 billion, down 2.5% year on year. This print fell short of analysts' expectations by 2.1%. Overall, it was a mixed quarter for the company with an impressive beat of analysts' EBITDA estimates. 'We are encouraged by the pace of our operational initiatives in 2025. We expect throughput to ramp as we move through the year and, coupled with our cost savings initiatives, we expect steady improvement in support of our operational and financial goals. We are also very supportive of the administration's commitment to expand our nation's shipbuilding capabilities and the maritime industrial base," said Chris Kastner, HII's president and CEO. The stock is down 1.3% since reporting and currently trades at $227. Read our full report on Huntington Ingalls here, it's free. Formed through the split of IT services company SAIC, Leidos (NYSE:LDOS) offers technology and engineering solutions such as military training systems for the defense, civil, and health markets. Leidos reported revenues of $4.25 billion, up 6.8% year on year, outperforming analysts' expectations by 3.6%. The business had a very strong quarter with a solid beat of analysts' backlog and EBITDA estimates. The market seems happy with the results as the stock is up 5.9% since reporting. It currently trades at $156.49. Is now the time to buy Leidos? Access our full analysis of the earnings results here, it's free. Responsible for the development of the first stealth bomber, Northrop Grumman (NYSE:NOC) specializes in providing aerospace, defense, and security solutions for various industry applications. Northrop Grumman reported revenues of $9.47 billion, down 6.6% year on year, falling short of analysts' expectations by 4.7%. It was a disappointing quarter as it posted full-year EPS guidance missing analysts' expectations. Northrop Grumman delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 10.3% since the results and currently trades at $476.04. Read our full analysis of Northrop Grumman's results here. Founded to commercialize SIMSCRIPT, CACI International (NYSE:CACI) offers defense, intelligence, and IT solutions to support national security and government transformation efforts. CACI reported revenues of $2.17 billion, up 11.8% year on year. This result beat analysts' expectations by 1.5%. It was a very strong quarter as it also produced an impressive beat of analysts' backlog estimates and an impressive beat of analysts' EBITDA estimates. The stock is up 9% since reporting and currently trades at $462.04. Read our full, actionable report on CACI here, it's free. Developing submarine detection systems for the U.S. Navy, Leonardo DRS (NASDAQ:DRS) is a provider of defense systems, electronics, and military support services. Leonardo DRS reported revenues of $799 million, up 16.1% year on year. This number surpassed analysts' expectations by 9.2%. Overall, it was a very strong quarter as it also put up an impressive beat of analysts' adjusted operating income estimates and a solid beat of analysts' EPS estimates. Leonardo DRS scored the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 9.8% since reporting and currently trades at $40.60. Read our full, actionable report on Leonardo DRS here, it's free. As a result of the Fed's rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed's 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump's victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Politics
- Yahoo
A US aircraft carrier fighting in the Red Sea has cost the Navy at least $180 million in lost planes and damage
The aircraft carrier USS Harry S. Truman has suffered a series of mishaps during its deployment. Since December, the ship has lost three fighter jets and collided with a commercial vessel. These incidents have cost the Navy at least $180 million so far. It's been a rough few months for the USS Harry S. Truman, which has suffered a string of serious and expensive mishaps since the aircraft carrier sailed into the Middle East at the end of last year. The Nimitz-class aircraft carrier has lost three F/A-18 Super Hornet fighter jets in the Red Sea — the most recent incident occurred on Tuesday — and collided with a commercial vessel, an incident that cost its skipper his job. While it's unclear how much damage the Truman sustained from the collision, F/A-18s are estimated to cost roughly $60 million apiece, meaning the carrier has racked up at least $180 million in lost planes and damage. It adds to the mounting costs the US military has borne from the Trump administration's seven-week air war against the Yemen-based Houthi militants attacking commercial ships in the Red Sea. Arrestment failure On Tuesday, an F/A-18F Super Hornet was landing on the Truman's flight deck when the arresting cable failed, sending the aircraft over the edge and into the water. Both aviators safely ejected and were rescued by an MH-60S Seahawk helicopter. "The aviators were evaluated by medical personnel and assessed to have minor injuries," a defense official told Business Insider. "No flight deck personnel were injured." The Truman is one of five US aircraft carriers that has battled the Houthis. Photo by Gerard Bottino/SOPA Images/LightRocket via Getty Images It's unclear exactly what went wrong during the landing. US carriers have catapults to launch aircraft and arresting gear to recover them. The wire cables are tensioned across the flight deck to catch an aircraft's tailhook and rapidly decelerate it, a process repeated dozens of times daily during flight operations. Physical damage to a cable or a failure of the hydro-pneumatic systems that absorb the force of the landing aircraft. Towing incident On April 28, an F/A-18E was actively under tow in Truman's hangar bay, an area under the flight deck where aircraft are maintained, when the move crew "lost control" of the fighter, the Navy said. At the time of the incident, the jet was likely on one of Truman's four elevators, which move aircraft between the hangar bay and the flight deck. The jet and the tow tractor fell overboard. A defense official later told BI that a sailor jumped from the cockpit of the F/A-18 right before it fell into the Red Sea, and was lightly hurt as a result of the incident. The Navy said at the time that the Truman carrier strike group and its air wing "remain fully mission capable." At least four fighter squadrons are deployed on the Truman, with likely 10 or more fighters per squadron. Collision On February 12, the Truman collided with a commercial vessel in the Mediterranean Sea near Egypt's Port Said, at the mouth of the Suez Canal. The aircraft carrier suffered some damage, including to the exterior wall of two storage rooms and a maintenance space. There was also damage external to the ship, including a line handling space, the fantail, and the platform above one of the storage spaces. Truman sailed to a US naval base in Greece for repairs. The Truman has lost three F/A-18 Super Hornets since December. US Navy photo Capt. Dave Snowden, Truman's commanding officer at the time, said the ship was "fully mission capable" and even continued to conduct flight operations after the crash. He was later fired and replaced by Capt. Christopher Hill, who previously captained the USS Dwight D. Eisenhower, the first aircraft carrier to take on the Iran-backed Houthi group in Yemen that's been attacking shipping lanes. Friendly fire On December 22, the guided-missile cruiser USS Gettysburg, part of Truman's strike group, shot down an F/A-18 Super Hornet over the Red Sea in what the US military said was "an apparent case of friendly fire." The fighter jet had launched from the Truman. Both aviators ejected safely. That incident occurred just a few days after the Truman and its strike group entered the Middle East region. It became the Navy's fourth aircraft carrier to join the fight against the Houthis. After weeks of calm, the US military began a new bombing campaign against the Houthis on March 15. The Truman participated in these intensive combat operations for over seven weeks until Tuesday, when President Donald Trump said American forces would stop. Read the original article on Business Insider
