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 reports developments across its defense technology programs, including military aircraft, missile defense, space systems, and command-and-control platforms. Recurring updates cover F-35 and F-16 aircraft activity, Skunk Works® technologies such as the MDCX™ platform, layered missile defense programs using THAAD, PAC-3 and related interceptor experience, and GPS satellite production and launches.
Company news also includes U.S. and allied customer selections, contract awards, quarterly operating results, capital and production initiatives, and leadership changes within major businesses such as Aeronautics and Space.
Lockheed Martin (NYSE: LMT) will host a live webcast for its Q2 2022 earnings results on July 19, 2022, at 11 a.m. EDT. Key executives, including CEO James Taiclet and CFO Jay Malave, will present the financial results and discuss significant updates, followed by a Q&A session. The Q2 results will be released before market opening on the same day. An on-demand replay will be available until August 2, 2022.
More information can be found on the Lockheed Martin Investor Relations website.
Lockheed Martin Corporation has elected retired Marine Lt. Gen. Vincent R. Stewart to its board of directors, effective July 15, 2022. Stewart, a former deputy commander of U.S. Cyber Command and director of the Defense Intelligence Agency, brings over 38 years of experience in defense and cybersecurity. His expertise is expected to enhance Lockheed Martin's capabilities in 21st Century Security technologies. Stewart is recognized as an independent director and will contribute to the Classified Business and Security Committee.
Lockheed Martin's Near Infrared Camera (NIRCam) has successfully captured the first image of early light in the universe, marking a significant milestone for the James Webb Space Telescope (JWST). This event was announced at a White House press event on July 11, 2022. NIRCam, built for the University of Arizona at Lockheed Martin's Advanced Technology Center, plays a crucial role in observing the formation of galaxies post-Big Bang. Webb aims to explore cosmic history, including the birth of stars and planetary systems, proving NIRCam's effectiveness in deep-space conditions.
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.