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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 (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.
On April 13 and 15, 2021, Sikorsky's S-97 RAIDER helicopter showcased advanced maneuverability and speed during demonstrations at Redstone Arsenal, Alabama. This event aimed to support Sikorsky's bid for the U.S. Army's Future Attack Reconnaissance Aircraft (FARA) program. The S-97 RAIDER is the only FARA candidate currently flying, contributing to risk reduction for its next-generation RAIDER X model. Sikorsky emphasizes its digital thread approach, enhancing aircraft lifecycle sustainability and operational readiness, crucial in addressing evolving military needs.
Lockheed Martin (NYSE: LMT) will host its first quarter 2021 earnings results webcast on April 20, 2021, at 11 a.m. EDT. James Taiclet, the company's CEO, along with CFO Ken Possenriede and VP of Investor Relations Greg Gardner, will discuss the financial results and key updates. The first quarter results will be published before the market opens on the same day. An on-demand replay of the webcast will be available until May 4, 2021. For more details, visit Lockheed Martin Investor Relations.
Lockheed Martin (NYSE: LMT) has announced leadership changes within its F-35 Lightning II Program. Bridget Lauderdale has been appointed vice president and general manager, succeeding Greg Ulmer, who moved to executive vice president on Feb. 1. Doug Wilhelm will take over as permanent vice president and deputy general manager of the F-35 Program. Bill Brotherton, previously acting vice president, is now vice president of Aeronautics Enterprise Performance. These changes, effective April 12, aim to enhance program performance and customer engagement.
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