Welcome to our dedicated page for Lockheed Martin news (Ticker: LMT), a resource for investors and traders seeking the latest updates and insights on Lockheed Martin stock.
Lockheed Martin Corporation is a leading global aerospace, arms, defense, information security, and technology corporation. Based in North Bethesda, Maryland, Lockheed Martin was formed by the merger of Lockheed Corporation and Martin Marietta in 1995.
The company is renowned for being the world's largest defense contractor, with significant influence in high-end fighter aircraft markets, notably due to its F-35 Joint Strike Fighter program. The aeronautics segment, which includes the F-35, generates two-thirds of the company's revenue. Other segments encompass rotary and mission systems (including Sikorsky helicopters), missiles and fire control, and space systems, which involve satellite production and partnerships like the United Launch Alliance joint venture.
Lockheed Martin has recently made headlines with its advancements in missile defense. In November 2023, it achieved a major milestone by completing the first Knowledge Point (KP1) for the Next Generation Interceptor program, a crucial step toward the Critical Design Review scheduled for future development. This program aims to counter evolving ballistic missile threats and is pivotal for national security.
The company's Q1 2024 financial results showed a robust performance with net sales of $17.2 billion. Despite a slight dip in net earnings compared to 2023, Lockheed remains confident in meeting full-year financial expectations. Investments in R&D and significant capital projects highlight ongoing efforts to strengthen production capacity and innovation.
Strategic collaborations have bolstered Lockheed Martin's position. For instance, the integration of Elsight’s Halo connectivity platform with the Indago 4 UAS enhances the drone’s operational capabilities. Additionally, partnerships with academic institutions like the University of Iowa have advanced AI applications in air-to-air intercepts, showcasing the company’s commitment to cutting-edge technology.
Lockheed Martin’s commitment to innovation is also evident in its Skunk Works division, which has been pivotal in testing AI and autonomy capabilities through the VISTA X-62A aircraft. This platform has facilitated significant breakthroughs in AI development and integration, essential for future aerospace advancements.
Looking ahead, Lockheed Martin continues to play a critical role in global security and defense, leveraging its technological expertise to innovate and adapt to emerging threats. With a strong financial foundation and strategic initiatives, the company remains poised to maintain its leadership in the defense sector.
The U.S. government and Sikorsky, a Lockheed Martin company (NYSE: LMT), have signed a five-year contract for 120 H-60M Black Hawk helicopters, with options for up to 255 aircraft. The contract is valued at approximately $2.3 billion, possibly increasing to $4.4 billion. Deliveries will start in July 2022 and extend through 2027. This marks the 10th multi-year contract for Sikorsky and highlights strong ongoing demand for the aircraft among U.S. Army and international clients. The Black Hawk continues to be crucial for Army operations, with upgrades aligned with future technology needs.
Lockheed Martin (NYSE: LMT) announced the purchase of group annuity contracts from Athene Holding Ltd. (NYSE: ATH), transferring approximately $4.3 billion of pension obligations for 13,600 U.S. retirees. The transaction will not require additional funding and will have no impact on the benefits received by retirees. However, a $1.5 billion non-cash settlement charge is expected in Q2 2022, resulting from accelerated recognition of actuarial losses. The company will revise its financial outlook during its upcoming earnings release.
Lockheed Martin announces a third-quarter 2022 dividend of $2.80 per share. This dividend is payable on Sept. 23, 2022, to shareholders on record as of Sept. 1, 2022. The company remains committed to providing shareholder returns, reinforcing its financial stability in the aerospace and defense sector.
MDA Ltd. has secured a contract from Lockheed Martin as part of the Space Development Agency's Tranche 1 Transport Layer program. MDA will design and produce antennas and control electronics for 42 low Earth orbit satellites. This contract enhances MDA's collaboration with Lockheed Martin and adds to its backlog in Q2 2022, with completion expected in 24 months. The T1TL constellation aims to provide a robust data transport communication system for national defense.
Lockheed Martin (NYSE: LMT) has appointed Evan T. Scott as vice president and treasurer, and H. Edward "Ed" Paul, III as vice president and controller, effective immediately. Scott succeeds John Mollard, who will retire after over 39 years with the company, while Paul replaces Brian Colan, who is retiring after more than 10 years. Scott will oversee global banking and risk management, whereas Paul will lead accounting and financial transformation functions. These appointments are part of a strategic transition aimed at bolstering financial operations and supporting the company's growth strategy.
Lockheed Martin (NYSE: LMT) will host a live webcast featuring CFO Jay Malave at the UBS Global Industrials and Transportation Conference on June 8, 2022, from 11:20 a.m. to noon EDT. Investors and analysts can access the webcast through Lockheed Martin's investor relations site. An audio replay will be available for two weeks following the presentation. Headquartered in Bethesda, Maryland, Lockheed Martin is a leading security and aerospace company employing approximately 114,000 people globally, involved in advanced technology systems and services.
Lockheed Martin (NYSE: LMT) will host a live webcast featuring Chairman, President, and CEO Jim Taiclet, along with CFO Jay Malave, at the Bernstein 38th Annual Strategic Decisions Conference on June 2, 2022, from 9:00 a.m. to 9:50 a.m. EDT. The webcast can be accessed at www.lockheedmartin.com/investor, with an audio replay available for two weeks post-event. Lockheed Martin is a global leader in security and aerospace, employing approximately 114,000 people worldwide.
Lockheed Martin has announced that Airbus will manufacture the aerial refueling boom system for the LMXT strategic tanker aircraft in western Arkansas. The LMXT, introduced in September 2021, is part of the U.S. Air Force's KC-Y program. This partnership aims to enhance U.S. defense capabilities, bringing skilled manufacturing jobs to Arkansas, which significantly contributes to the state's economy. The manufacturing facility will be the first for Airbus in Arkansas, expanding its U.S. footprint and supporting national defense.
Lockheed Martin (NYSE: LMT) will host a live webcast featuring CFO Jay Malave at the BofA Securities 29th Annual Transportation, Airlines and Industrials Conference on May 19, 2022, from 10:00 a.m. to 10:35 a.m. EDT.
The webcast can be accessed at www.lockheedmartin.com/investor, with an audio replay available for two weeks post-event. Lockheed Martin is a leading global security and aerospace company, employing around 114,000 people and focused on advanced technology systems.
Lockheed Martin (NYSE: LMT) announced a webcast of a presentation by CFO Jay Malave at the Goldman Sachs Industrials and Materials Conference on May 12, 2022, from 9:40 a.m. to 10:15 a.m. EDT. Investors can access the live presentation via Lockheed Martin's investor relations website, with an audio replay available for two weeks post-event. The company, based in Bethesda, Maryland, employs around 114,000 globally and specializes in advanced technology systems and services.
FAQ
What is the current stock price of Lockheed Martin (LMT)?
What is the market cap of Lockheed Martin (LMT)?
What does Lockheed Martin Corporation specialize in?
When was Lockheed Martin formed?
What is the significance of the F-35 Joint Strike Fighter program?
What recent milestone did Lockheed Martin achieve in missile defense?
How did Lockheed Martin perform financially in Q1 2024?
What are some of Lockheed Martin's strategic collaborations?
What advancements has Lockheed Martin made in AI and autonomy?
Where is Lockheed Martin headquartered?
What are Lockheed Martin's main business segments?
What is Lockheed Martin's vision for the future?
