Corporate earnings season is underway for the first quarter and gives an opportunity for investors to gauge the financial health and performance of the world’s largest defense and government contractors.

We got a mixed glimpse of what is in store this week for GovCon Index stocks with first quarter statements from ground and air vehicle maker Textron, avionics technology contractorRockwell Collins and the global industrial conglomerate Honeywell.

Executive Mosaic’s GovCon Index of 30 publicly-traded government contractor stocks has held steadily over the key 75-point barrier for six straight days to punctuate its gradual recovery from a three-month low of 66 points on Feb. 11.

Low oil prices, worries over China™s economy, currency weakness and concerns over the world™s security environment continue to be the main drivers of activity in U.S. financial markets.

GovCon stocks and especially those with significant global footprints are no exception to the rule but can be insulated from some global headwinds as defense spending is always a constant, as Credit Suisse analyst Robert Spingarn has highlighted.

As noted here in the last edition, all of the U.S.™ œBig Five government contractors (Boeing, General Dynamics, Lockheed Martin, Northrop Grumman & Raytheon) will report second quarter earnings next week and will certainly give the GovCon Index a spike in activity.

Other GCI companies scheduled for earnings calls next week include CACI International, CGI Group, L-3 Communications, Leidos and ManTech International.

THE WEEK’S OTHER TOP GOVCON STORIES