Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.

Boeing's fixed-price contracts with the Air Force are still burning cash

Boeing's defense unit has logged $222 million in losses since January on two major firm fixed-price contracts with the Air Force, the KC-46A and T-7A, Chief Financial Officer Brian West told investors during a first-quarter earnings call.

After long wait, Lockheed to resume F-35 deliveries between July and September

Deliveries of F-35 Joint Strike Fighter aircraft are on track to resume this summer, albeit with a truncated version of Technology Refresh-3 software upgrades, top Lockheed Martin executives told shareholders during a call to discuss the company's first-quarter earnings.

Northrop won't compete for 'very low cost and not survivable' drone contracts

Northrop Grumman isn't looking to compete for non-survivable drone programs and will focus on drones for high-end threats, CEO Kathy Warden told investors during the company's first-quarter earnings call.

GD execs: Submarine supply chain needs funding for second Virginia shipset in FY-25

With the Navy requesting only one Virginia-class submarine in fiscal year 2025, it is important that the sea service also fund a second, full shipset of Virginia materials to sustain the submarine supply chain, according to General Dynamics executives.

Oshkosh Defense sales increases by $24M

Oshkosh Defense sales rose by $23.8 million in the first quarter of 2024, marking a 4.6% increase from the same quarter last year, according to company executives.

Honeywell reports $558M revenue increase in aerospace

Honeywell's aerospace segment revenues rose by $558 million, an 18% increase from the same quarter last year, according to company executives.

The week ahead

Senior defense officials are scheduled to appear at several congressional hearings and think tank events this week.

DOD eyes major upswing in prototype funding for office focused on countering

The Pentagon plans to pump an additional $1.7 billion -- a 75% increase over last year's plan between fiscal years 2025 and 2028 -- into the secretive shop that prototypes new and surprising ways of using existing technology to bolster conventional deterrence against China and Russia.

Stryker Upgrade program now a billpayer in new Army POM; annual procurement slashed from 184 to 11

The Army's Stryker Upgrade program -- a project that as recently as last year enjoyed a $1.2 billion annual budget to up-gun and expand improvements across the armored wheeled vehicle -- is now a billpayer, with service leaders siphoning $1.3 billion from future plans to finance other projects.