Lockheed Martin Corp on Tuesday missed profit estimates for the first time in the last eight quarters as the COVID-19 pandemic disrupted deliveries of the U.S. weapons maker's F-35 jets and caused supplier delays.
Hilton Worldwide Holdings Inc said on Wednesday it had seen a gradual improvement in demand from a coronavirus-induced slump after cost cuts helped the U.S. hotel operator post a surprise quarterly profit.
Marriott International said on Monday it expects cash burn for the year to be slower than previous estimated as bookings slowly recover from the coronavirus lows that pushed the hotel chain to post its first quarterly loss in nearly nine years.
Hilton Worldwide Holdings Inc said on Thursday it expects its room occupancy rates to improve by 5% by early fall as economies reopen gradually, and predicted it would take at least two years for demand to rebound to pre-coronavirus levels.
Lockheed Martin said on Tuesday the spread of coronavirus has delayed shipments of vital supplies to its numerous businesses and will likely hurt its sales this year.
General Dynamics on Wednesday reported a 28% jump in its order backlog due to an order for Navy submarines, and quarterly profits that topped Wall Street estimates helped by higher sales in its aerospace unit that makes Gulfstream business jets.
Lockheed Martin Corp forecast 2020 revenue above analysts' estimates on Tuesday, as the Pentagon's No.1 weapons supplier's late 2019 results benefited from better jet and missile sales and heightened geopolitical tensions in the Middle East.