Some Defense Firms May Regret 3rd Quarter Lobbying Let Up
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.