After much drama, Congress increased the ceiling on defense spending by $165B for 2018 and 2019, a solid 11% y/y increase from 2017, with most of that increase going to DoD procurement which feeds directly into the defense primes. Even though the details on exactly how the 2018 money will be appropriated won't be firm until 23 March, the Administration has already released its detailed defense spending plans for 2019 through 2023.
Join us Tuesday, 20 February at 11 AM EST for the first of a series of "Blackbook"-type calls that will examine the FY 2019 US Defense Budget environment including analysis of the latest Pentagon budget proposal and specific impacts on defense industry.
In this series, LtGen Emerson "Emo" Gardner USMC Ret., Hedgeye Senior Defense Advisor, and the man former Secretary of Defense Bob Gates called his "go to guy" on Pentagon spending, will analyze the budget including specific implications for major defense companies (LMT, BA, GD, HII, NOC, RTN, etc).
CLICK HERE to access the associated slides (they will become available shortly prior to the start of the presentation, refresh this link for access).
https://s3.amazonaws.com/docs.hedgeye.com/HE_FY19_DOD_Budget_FEB2019.pdf
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