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.
Lockheed Martin (NYSE: LMT) has announced that its Chairman, President and CEO Jim Taiclet, along with CFO Jay Malave, will be speaking at the Morgan Stanley Conference on Thursday, Sept. 12. The presentation is scheduled for 3:15 p.m. to 3:45 p.m. ET.
The event will be webcast live and can be accessed through Lockheed Martin's investor relations website. For those unable to attend or watch the live stream, an audio replay will be available for two weeks following the presentation. This event provides an opportunity for investors and analysts to gain insights into Lockheed Martin's current operations and future strategies directly from its top executives.
Lockheed Martin unveiled Poland's first F-35A Lightning II, named 'Husarz', at a ceremony in Fort Worth, Texas. This marks a significant milestone for the Polish Air Force and strengthens the U.S.-Poland alliance. Poland will receive 32 F-35As, with the first delivery scheduled for December 2024. The aircraft will be based at Ebbing Air National Guard Base, Arkansas, where Poland will be the first international customer to conduct F-35 pilot training.
The F-35 is described as the NATO aircraft of choice, enhancing Poland's leadership in the alliance and improving interoperability with allies. To date, Lockheed Martin has delivered over 1,000 F-35s globally, trained more than 2,540 pilots and 16,690 maintainers, with the F-35 fleet surpassing 889,000 cumulative flight hours.
Lockheed Martin [NYSE: LMT] has announced a definitive agreement to acquire Terran Orbital [NYSE: LLAP], a leader in satellite-based solutions for aerospace and defense industries, for an enterprise value of approximately $450 million. The acquisition aims to expand Lockheed Martin's advanced satellite manufacturing and responsive space capabilities. Terran Orbital brings high throughput, robotic manufacturing capacity and high-performing modular space vehicle designs to the table.
The transaction, expected to close in Q4 2024, involves Lockheed Martin acquiring Terran Orbital for $0.25 in cash per share and retiring its existing debt. A new $30 million working capital facility has been established. Upon closing, Terran Orbital will remain a commercial merchant supplier to the industry. The acquisition builds on a seven-year working relationship and aligns with Lockheed Martin Space's strategic plans to meet customer demands for advanced technology and faster product development.
Lockheed Martin (NYSE: LMT) has delivered the first of five C-130J Super Hercules tactical airlifters to the New Zealand Ministry of Defence and New Zealand Defence Force. This marks the beginning of a new era in tactical airlift capability for New Zealand, replacing their aging C-130H fleet. The Royal New Zealand Air Force's 40 Squadron will operate the new C-130Js, which represent one of the most advanced configurations of the Super Hercules ever produced.
The C-130J offers increased allied alignment, greater reach, enhanced capabilities, and proven performance for demanding tactical airlift operations. Key advantages include operational readiness, increased reliability, superior tactical airlift and combat airdrop capabilities, and enhanced survivability. The aircraft also provides unmatched interoperability with NATO and global air forces, along with verified low life-cycle costs and significant fuel savings, resulting in a reduced carbon footprint compared to other medium-sized jet airlifters.
Lockheed Martin (NYSE: LMT) reported strong Q2 2024 financial results, with net sales of $18.1 billion, up 9% year-over-year, and net earnings of $1.6 billion, or $6.85 per share. The company generated $1.9 billion in cash from operations and $1.5 billion in free cash flow. Lockheed Martin returned $1.6 billion to shareholders through dividends and share repurchases.
Based on strong year-to-date performance, the company raised its 2024 full-year outlook for sales, segment operating profit, and earnings per share. The F-35 program remains a top priority, with the first Technology Refresh 3-configured aircraft delivered and 2024 deliveries expected to be 75-110 units. Lockheed Martin's backlog stands at nearly $160 billion, more than twice its annual revenue, indicating robust demand for its defense technology solutions.
Lockheed Martin's Skunk Works® and KX have announced a collaboration at the Farnborough Air Show to advance Open Mission System architectures. This partnership aims to combine KX's kdb+, the world's fastest analytical database for time-series data, with Lockheed Martin's AI and data tooling technologies. The collaboration will create a UK-sovereign, real-time situational awareness model for combined joint all-domain command and control (CJADC2), enhancing decision-making and operational agility across armed forces.
This initiative demonstrates Lockheed Martin's commitment to partnering with UK industry and allies, focusing on interoperability with international sovereign systems. The collaboration aims to deliver unmatched value in data management and enhance operational decision-making at scale.
Lockheed Martin (NYSE: LMT) announced at the Farnborough International Airshow that the global C-130J Super Hercules fleet has surpassed 3 million flight hours. This milestone, achieved by 545+ delivered aircraft from 21 nations, showcases the aircraft's versatility across 18 different mission types. The hours were logged from the C-130J's first flight on April 5, 1996, through early July 2024.
The C-130J's capabilities include combat, transport, aerial refueling, Special Operations, medevac, humanitarian relief, search and rescue, weather reconnaissance, firefighting, and commercial freight delivery. The Super Hercules leads in tactical airlift missions, offering advantages such as proven operational readiness, increased reliability, superior tactical airlift and combat airdrop capabilities, and certification by over 20 airworthiness authorities.
Lockheed Martin (NYSE: LMT) has delivered the first of eight C-130J-30 Super Hercules tactical airlifters to the Ohio Youngstown Air Reserve Station. This marks the addition of a new mission capability for the Super Hercules — the aerial spray mission. The 910th Airlift Wing, which operates these aircraft, maintains the Department of Defense's only large area, fixed-wing aerial spray capability.
The C-130J Super Hercules now supports 19 unique mission capabilities, showcasing its versatility. This delivery preserves the unit's tactical airlift and aerial spray mission while providing more space, speed, range, and versatility. The global C-130J fleet spans 26 operators in 22 nations, with over 545 aircraft logging nearly 3 million flight hours.
Lockheed Martin (NYSE: LMT) has announced a live webcast of its second-quarter 2024 earnings results on July 23, 2024, at 11 a.m. ET. The presentation will feature CEO James Taiclet, CFO Jay Malave, and VP Maria Ricciardone, discussing the financial results and key updates. The results will be published before the market opens on the same day. The webcast and accompanying presentation slides and financial charts will be accessible on Lockheed Martin’s investor relations website. An on-demand replay will be available through August 6, 2024, along with a podcast.
Lockheed Martin (NYSE: LMT) has announced a third quarter 2024 dividend of $3.15 per share.
The dividend will be paid on September 27, 2024, to shareholders registered by the close of business on September 3, 2024. Lockheed Martin, a global leader in defense technology, continues to drive innovation and scientific discovery through its all-domain mission solutions and 21st Century Security® vision.
Additional details can be found on the company's official website.
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