【Jefferies-2025研报】观看视频华盛顿特区国防之旅回顾电话会议.pdf

EquityResearch

USA|AerospaceDefenseElectronicsJune9,2025

[WatchtheVideo]DCDefenseTourRecapCall

FollowingourWashington,DCbustour,SheilaKahyaogluandTeamhosteda

recapcallonJune9whereshesharedthoughtsonthestateofthedefense

industrybasedonmeetingswithFormerSecNavyRichardSpencer,Former

DoDComptrollerMikeMcCord,FormerAsstSecArmyforAcquisitionDoug

Bush,LDOS,LMT,NOC,andSAIC.

.

RelevantResearchHighlights:

•ExpertFeedback:AllThingsNavywithRichardSpencer

•ExpertFeedback:DefenseTakesw/AFormerComptrollerandAssistantSecretary

•LDOS:MgmtMeetingTakes:WinningtheCageMatchw/DOGE

•LMT:MgmtMeetingTakes:YouMakeMyHeartBeatFastFerrari

•NOC:MgmtMeetingTakes:FromTRIADtoGoldThereAreBroadOppties

•SAIC:MgmtMeetingTakes:ACapitalHilltoClimbonMargins

Sheila

Kahyaoglu

*

|EquityAnalyst

+1(212)336-7216|sheila.kahyaoglu@

Greg

Konrad,CFA

*

|EquityAnalyst

+1(212)284-2391|gkonrad@