Sharon Terlep
speaker
67 appearances
3 recordings
1 series
first heard Apr 2025
last heard Aug 2025
Sharon Terlep’s voice in public audio — every appearance, attributed to the second.
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Appearances
Lockheed and Northrop, both forecasts that didn't thrill investors. So you saw that in their stock price. So it is very much kind of a mixed bag out there.
You'll hear executives say, this is why we do this, because a lot of times just the nature of air travel is when times of economic and geopolitical uncertainty, people are maybe less likely to travel, but that's also when defense spending goes up. So certainly a case can be made that that's good. I'm The question is, can they execute well on the defense side?
So Boeing, they have a strong defense business in terms of demand, but they've really struggled with massive losses because they've really struggled to execute these contracts and have been losing a lot of money. In this quarter, it was actually the first time in a while they didn't take a big charge in defense, and they seem to have started to turn things around.
And it depends. And I think this is where you're seeing the variation. There's different types of defense contracts. One thing that Boeing will say is that they've typically struck contracts in which if there's cost overruns, they carry the load of that. So for Boeing, they've been taking a ton of extra costs. And they've said, look, we're not going to do these contracts anymore.
We're going to do contracts where the government's going to have to help if costs change and we'll be guaranteed more of a profit. So it really depends on where the contracts were in terms of how they'll be affected by this change going forward. The language out of the DOD is that they're not going to tolerate these overrun behind schedule projects.
The trick is when you're dealing with a program as important as the F-35 or if you think of battleships and these huge things, they can't just... cut it off and go get it somewhere else.
Well, thanks for having me.
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