Despite budget cuts, DoD contractors make solid profits

An uncertain spending budget at the Defense Department isn’t stopping large defense contracting companies from turning a solid profit.

Lockheed Martin made 25 percent more in this quarter this year than they did last year, Defense Procurement News reports.

General Dynamics, Northrop Grumman and Boeing have also seen a rise in profits this quarter

These big profits may be short-lived because the government is already making decisions on ending missiles and vehicle systems programs.


This story is part of Federal News Radio’s daily DoD Report. For more defense news, click here.