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Industrials
Lockheed Martin misses estimates, aeronautics sales fall
Lockheed Martin missed revenue and earnings estimates last quarter as aeronautics sales dipped, despite new contracts with the United States government. Net sales rose 0.3% year-over-year to US$18.02 billion, below the Zacks consensus estimate of $18.12 billion. Earnings per share increased 11.5% to $6.44, under estimates of $6.67. “Lockheed Martin's superior capabilities in delivering advanced defense technology and systems and in space exploration have been proven again and again in 2026,” said chair, president, and CEO Jim Taiclet. “Our Orion spacecraft safely carried the crew farther from Earth than ever before during NASA's historic Artemis II mission, concluding with a precisely executed re-entry and splashdown. Our superior fifth generation fighter jets, the F-35 and F-22, continue to operate with great effectiveness in contested and difficult missions.” Aeronautics sales were $6.95 billion, down from $7.06 billion one year ago, which Lockheed Martin credited to lower sales in classified programs and of F-16 aircraft. Rotary and Mission Systems sales also fell from $4.33 billion to $3.99 billion. Missiles and Fire Control sales rose from $3.37 billion to $3.65 billion, while Space sales climbed from $3.21 bil
Industrials
GE Aerospace orders soar, cuts departure forecast
GE Aerospace surpassed revenue and earnings estimates last quarter as orders soared, though it lowered its departures outlook due to the Iran war. Earnings per share increased 25% year-over-year to US$1.86, surpassing Zacks consensus estimates of $1.61. Revenue rose 29% to $11.61 billion, beating estimates by 9.13%. “GE Aerospace had a strong first quarter with orders growing 87% and revenue up 29%, supporting double-digit growth in earnings and free cash flow,” said chair and CEO Larry Culp. “Our young and diverse fleet coupled with a $170 billion commercial services backlog positions us well to navigate the current operating environment.” The surge in orders included agreements to provide LEAP-1A engines to American Airlines and GEnx engines to United Airlines and Delta Air Lines. Its total backlog is more than $210 billion, the company said, up from $190 billion at the end of 2025’s fourth quarter. Overall operating profit was up 18% to $2.5 billion, with both major segments reporting double-digit percentage growth. GE Aerospace has reduced its full-year departures guidance, forecasting a low double-digit decline for Middle Eastern departures amid the Iran war. It expects flat to low single-digit departure
Industrials
Amazon saves USPS with new package delivery deal
Amazon.com has reportedly struck a deal with U.S. Postal Service (USPS) that helps alleviate the United States government’s mail service’s financial difficulties. USPS will preserve 80% of its package delivery business with the global technology giant, which is worth US$6 billion (A$8.7 billion) in annual revenue, according to Reuters. The 20% reduction in volumes is significantly lower than the two-thirds cut initially feared, the news organisation reported in this article. Reuters first reported on the deal, but other news organisations subsequently wrote about it, including the Wall Street Journal in this story and Barrons in this article. USPS has been under increasing financial pressure, issuing a warning in March that it could run out of cash by October. Amazon has been broadening its logistics network, including its ‘last-mile’ delivery capacity and is considering moving to other carriers, but is not considered likely to replicate USPS’s extensive reach, particularly in rural areas. In a statement, the company said it was “pleased” to reach a deal that would extend the longstanding partnership, while USPS did not immediately comment, according to Reuters. Amazon has previously criticised USPS plans to o
Industrials
Trump introduces new measures to help farmers
United States President Donald Trump announced new measures to support U.S. farmers. This comes as farmers have been left reeling from the administration’s trade policies and the Iran war. One of the measures suggested by Trump was that farm equipment makers cut prices. "I want John Deere and Case and all of - they're great companies, Caterpillar... I want these companies to give it to you in the form of lower tractor and equipment costs," Trump said. This sent companies' stocks tumbling. At the time of writing, Deere & Co (DE: NYSE) stock was down 2.50% to US$566.64. Caterpillar (CAT: NYSE) stock is also down 1.11% to $695.40. Trump called for lower prices in an aside during a speech that otherwise focused on shoring up support among the Republican president's loyal constituency of rural voters, who have backed Trump in all three of the last presidential races. U.S. crop producers are facing tight margins, high production costs and low commodity prices for the fourth straight year, despite near-record government payments. The Trump administration has promised to distribute $12 billion in aid to U.S. farmers. This is a move that farm trade groups and agricultural economists have said is helpful in t
Industrials
US pushes defence firms to boost weapons output
The United States Department of War has struck new agreements with major defence contractors to rapidly expand munitions production, as Washington moves to place its military on what officials describe as a “wartime footing” following the U.S-Israel war with Iran. In a statement released on 25 March, the Pentagon confirmed framework deals with BAE Systems, Lockheed Martin and Honeywell Aerospace aimed at accelerating output of key weapons systems and replenishing stockpiles depleted by recent operations. The move reflects mounting operational demand after U.S. strikes linked to the war involving Iran, as well as ongoing support for Ukraine since Russia’s 2022 invasion. Under the agreements, Honeywell Aerospace will invest US$500 million over many years to increase production of critical components, including navigation systems, missile steering actuators and electronic warfare technologies used across U.S. military platforms. The company said the expansion would focus on scaling supply chains for high-demand munitions inputs. BAE Systems and Lockheed Martin will quadruple production of missile seekers used in the Terminal High Altitude Area Defence system, a key component of U.S. ballistic missile defence. Lockhe

Industrials
FedEx takes off; lifts Q3 profits, raises FY26 forecast
FedEx Corp shares surged after it reported an 18% increase in net income for the third quarter of the 2026 financial year (Q3 FY26) and raised its full-year profit forecast. The global delivery company said net income increased to US$1.06 billion (A$1.50 billion) in the three months ended 28 February 2026 from $910 million in the previous corresponding period as deliveries surged during the ‌all-important holiday quarter. Diluted earnings per share (EPS) grew 31% to $4.41 on revenue which rose 8% to $24 billion. The company revised its EPS forecast for the financial year ending 31 May to be between $19.30 and $20.10 from between $17.80 and $19.00. The forecast excludes costs related to the planned spin-off of FedEx Freight, business optimisation initiatives, the planned change in the company’s fiscal year end and an international regulatory matter. The company said revenue would grow between 6% and 6.5% in FY26 compared with the previous 5% to 6% expectation.Source: FedEx CorpFedEx shares (NYSE: FDX) closed $6.27 (1.82%) higher at $356.11 on Thursday (Friday AEDT), capitalising the company at $83.73 billion, before climbing $31.31 (8.81%) to $387.41 in after-hours trading. FedEx said the 4.6% increase in consolid
Industrials
US boosts funding for space missile tracking
The Pentagon has increased the estimated cost of its so-called Golden Dome missile defence shield to US$185 billion (A$260.3 billion), up $10 billion from earlier projections, as officials accelerate space-based capabilities central to the system’s design. The revised figure, disclosed by Space Force General Michael Guetlein at the McAleese Defense Programs Conference in Arlington, Virginia, reflects a shift in emphasis toward orbital sensors, data networks and tracking systems as the U.S. responds to the rapid expansion of hypersonic missile arsenals. Guetlein said the additional funding would bring forward key programs and support a full “objective architecture” to be delivered over the next decade. According to a conference summary published by McAleese & Associates, the funding increase will prioritise three initiatives: The Advanced Missile Tracking Initiative, a space-based data transport network, and the Hypersonic and Ballistic Tracking Space Sensor (HBTSS). The latter is designed to detect and track both hypersonic and ballistic missile threats from orbit, providing persistent overhead surveillance. Golden Dome is envisioned as a layered homeland defence system combining upgraded ground-based interceptors,
Industrials
Fonterra seeks new CEO following resignation
Fonterra Co-operative Group is seeking a replacement for Chief Executive Officer (CEO) Miles Hurrell following his decision to resign. The New Zealand-based dairy co-operative CEO announced his resignation in a statement to the New Zealand Stock Exchange on Monday. “The board has begun a search for a new chief executive and expects to appoint a successor in the coming months,” Fonterra said. Chair Peter McBride said Hurrell had decided to step down after a 25-year career with Fonterra, including eight years as CEO. “When he was appointed CEO in 2018, Miles was tasked with leading a reset of the business to turn around Fonterra’s financial performance and rebuild farmers’ trust,” McBride said in the statement. “Under Miles’ leadership the team has done that and more. From day one, Miles was able to unite the team under a single purpose and drive performance right across the business, setting the Co-op up for the future. “He has overseen a significant strategic reset, focused on getting the Co-op back to its core strengths. In doing so, he has helped lift Fonterra’s financial discipline and built the strong foundations the Co-op has today. “ Hurrell said when he took on the role of CEO, he understood the organis
Industrials
AeroVironment misses estimates despite revenue surge
Defence technology company AeroVironment missed estimates last quarter despite a spike in revenue, with its operating loss widening after a series of charges. Earnings per share were US$0.64 in the quarter to 31 January, up from $0.30 one year ago but below Zacks consensus estimates of $0.68. Revenue was $408.05 million, surging from $167.64 million but missing estimates by 13.73%. “While our third quarter results were impacted by revenue timing and adjustments in our Space business, demand for our unique solutions remains robust,” said CEO Wahid Nawabi. “Strong order flow and growth in funded backlog during the quarter are setting the stage for record fourth quarter revenue and a solid start to fiscal year 2027. We are executing with discipline, scaling manufacturing ahead of demand and accelerating the commercialization of our platforms to improve profitability and time to market.” Product sales revenue was $277.81 million, climbing from $139.75 million. Contract services revenue rose to $130.23 million, from $27.88 million. AeroVironment’s Autonomous Systems segment’s revenue was $278.7 million, while Space, Cyber and Directed Energy revenue was $129.3 million. Its purchase of defence company BlueHalo last year c