The industrial sector consists of a large variety of industries. These can include manufacturing, construction, engineering products, oil and gas, energy, heavy machinery, etc. One significant segment within the industrial sector is the defense majors. Companies like Lockheed Martin, Raytheon, etc., produce highly sophisticated products for the US military and defense forces around the world. The US Department of Defense is the largest defense spending entity in the world. It just does not buy weapons. It also works with other service providers that support the functioning of the defense of the country. The operation is complex and requires technology, manpower, and the management of multiple entities. Intelligence agencies are also a key aspect of a country’s defense establishment. Working with such entities is a company called Booz Allen. In fact, the consulting firm is one of the leading government contractors and has a long track record. So, if you talk about the best industrial stocks to buy, then Booz Allen and companies similar to it should be looked at.
Booz Allen Announces Q22022 Earnings Numbers
On 29th October 2021, Booz Allen Hamilton announced its second-quarter 2022 earnings results. Revenues increased slightly from $2 billion in Q22021 to $2.1 billion. The operating income was up from $207 million in Q22021 to $218 million. Net income, meanwhile, was up from $136 million to $154.8 million years on year. The earnings per share on a diluted basis was $0.98 in the second quarter of 2021 and came in at $1.14 per share in Q22022. Overall, most of the key financial metrics had grown positively. If you are looking for the best stocks in industrials, then consider changing your approach and checking out lesser obvious names like Booz Allen Hamilton.
Best Industrials Stocks To Buy
The company’s guidance for the fiscal year 2022 remained unchanged after the announcement of its Q22022 results. Revenue is projected to grow between 7% and 10%, while the diluted earnings per share are expected to come in between $4.1 and $4.3.