Some Defense Firms May Regret 3rd Quarter Lobbying Let Up
Posted at 5:01 p.m. on Oct. 21, 2013
With no grand budget resolution in October, and Congress continuing to battle over the defense budget and sequesters, some defense firms may regret their reduced expenditures for lobbying in the third quarter.
Third quarter lobbying reports filed today show some major defense contractors spent less in the third quarter on federal lobbying of the executive and legislative branches, than during the second quarter.
Many of these firms will be reporting their third quarter earnings this week, and may or may not indicate their concern over government actions impacting on the fourth quarter earnings and beyond. Lockheed Martin and United Technologies report earnings Tuesday. Boeing, General Dynamics, and Northrop Grumman report Wednesday. Raytheon reports Thursday.
New lobbying reports of the third quarter:
Northrop Grumman spent $3,800,000 – up from $3,430,000 in Q2.
Boeing reported spending $3,790,000 – down from $3,940,000 in Q2.
Lockheed Martin spent $3,460,000 – down from $3,880,000 in Q2.
General Electric spent $3,420,000 – down from $3,630,000 in Q2.
United Technologies spent $2,850,000 – up f om $2,290,373 in Q2.
General Dynamics spent $2,254,157 – down from $3,189,639 in Q2.
Raytheon spent $1,720,000 – down from $1,980,000 in Q2.
Honeywell Int’l. spent $1,310,000 – down from $1,650,000 in Q2.
Huntington Ingalls Industries spent $1,323,133 – up from $1,278,782 in Q2.
Textron spent $940,000 – down from $990,000 in Q2.
BAE Systems spent $920,000 – down from $1,150,000 in Q2.
Leidos Inc. spent $470,000 – same as Q2.
L-3 Communications spent $420,000 – down from $550,000 in Q2.
More lobbying reports are due to be filed today.