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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 Corporation has elected Patricia E. Yarrington to its board of directors. Yarrington recently retired as the CFO of Chevron, bringing 38 years of experience in financial strategy and capital allocation. She is recognized as an 'independent director' and meets SEC criteria as an 'audit committee financial expert.' Yarrington will join both the Audit Committee and Management Development and Compensation Committee. CEO James Taiclet emphasizes her expertise will enhance Lockheed Martin's innovative technology and shareholder value.
Lockheed Martin (NYSE: LMT) and General Motors (NYSE: GM) have partnered to develop next-generation lunar vehicles for NASA's Artemis program, enhancing lunar exploration capabilities. The Lunar Terrain Vehicle (LTV) aims to enable astronauts to travel farther on the Moon's rugged terrain, especially at the Moon's south pole. Lockheed Martin will leverage over 50 years of experience with NASA, while GM will integrate advanced battery-electric technologies and autonomous systems for improved operational efficiency. This partnership represents a significant advancement in space exploration technology.
Lockheed Martin will host a live webcast presentation featuring Chairman, President, and CEO James Taiclet at Bernstein's 37th Annual Strategic Decisions Conference on June 2, 2021, from 11:00 a.m. to 11:50 a.m. EDT. Investors can access the webcast through the company’s investor relations page. An audio replay will be available for two weeks afterward. Lockheed Martin, headquartered in Bethesda, Maryland, is a global leader in security and aerospace, employing about 114,000 people and specializing in advanced technology systems.
Lockheed Martin's SBIRS GEO-5 satellite successfully launched on May 18, 2021, from Cape Canaveral. It is now communicating with U.S. Space Force's Space Delta 4 operations team, confirming signal acquisition 36 minutes post-launch. SBIRS GEO-5 enhances missile warning capabilities with its advanced sensors, critical for national security amid rising global threats. Built on the new LM 2100 Combat Bus, it features improved resilience and cyber-hardening. The satellite is part of the broader Next Gen OPIR Block 0 System, set to strengthen missile defense operations.
Lockheed Martin (NYSE: LMT) will host a live webcast of a presentation by CFO Ken Possenriede at the Goldman Sachs Industrials & Materials Conference on May 13, 2021, from 8:50 a.m. to 9:25 a.m. EDT. The webcast can be accessed at Lockheed Martin Investor, where an audio replay will be available for two weeks after the event. Headquartered in Bethesda, Maryland, Lockheed Martin is a major player in global security and aerospace, employing around 114,000 people worldwide.
Lockheed Martin (NYSE: LMT) has appointed Christian Marrone as the new senior vice president of government affairs, succeeding Robert Rangel, who will retire later this year. Marrone brings extensive experience, having previously served in significant roles within the U.S. government, including chief of staff at the Department of Homeland Security. His selection reflects Lockheed Martin's effective leadership succession planning. CEO Jim Taiclet praised Marrone's national security expertise and bipartisan relationships, while expressing gratitude for Rangel's contributions.
The U.S. government and Lockheed Martin (NYSE: LMT) have submitted a best and final offer (BAFO) for the F-35 fighter jets to Finland on April 29, 2021. This offer includes a comprehensive package with F-35A aircraft and tailored sustainment solutions. The F-35 is presented as the most affordable option for Finland's future air force needs, providing high-tech job opportunities and lasting industrial collaboration for over 20 years. The aircraft is considered the most advanced and cost-effective 5th Generation fighter, with 13 nations already selecting it for service.
Lockheed Martin Corporation (NYSE: LMT) has announced a dividend of $2.60 per share for the second quarter of 2021. This dividend will be payable on June 25, 2021, to shareholders recorded as of the close of business on June 1, 2021. This action reflects the company's ongoing commitment to return value to its shareholders while supporting its strategic initiatives.
ORock Technologies, in collaboration with Intel and Lockheed Martin, has launched ORockCloud with Hardened Security, a cutting-edge hybrid cloud solution designed for commercial and federal organizations. This offering enhances security, performance, and latency predictability for mission-critical workloads and high-performance computing (HPC) applications. The solution integrates advanced security measures with Intel's 2nd Gen Xeon Scalable processors, ensuring data confidentiality and availability. As an Intel Select Solutions provider, ORock aims to transform organizations' defense against cyber threats by delivering a secure cloud platform.
Lockheed Martin Corporation (LMT) reported first-quarter 2021 net sales of $16.3 billion, up from $15.7 billion in 2020. Net earnings rose to $1.8 billion or $6.56 per share, compared to $1.7 billion or $6.08 per share last year. Cash from operations was $1.7 billion, down from $2.3 billion in the first quarter of 2020. The quarter included unrealized gains of $68 million from the Ventures Fund, offset by $36 million in severance and restructuring charges. Lockheed anticipates continued growth while managing operational challenges due to COVID-19.
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