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Lockheed Martin Corporation (LMT) delivers cutting-edge aerospace systems and defense technologies that shape global security infrastructure. This dedicated news hub provides investors and industry professionals with authoritative updates on LMT's strategic developments.
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The Lockheed Martin Corporation (NYSE: LMT) announced the election of President and CEO James D. Taiclet as chairman of the board, effective March 1. Marillyn A. Hewson will retire as executive chairman but will serve as a strategic advisor until Feb. 28, 2022. Under Hewson's leadership, the company achieved strong performance in 2020. The board also appointed Gregory M. Ulmer as executive vice president of Aeronautics, effective Feb. 1, following a tenure of leadership in the F-35 program.
Lockheed Martin Corporation (NYSE: LMT) has announced a first quarter 2021 dividend of $2.60 per share, payable on March 26, 2021. Shareholders on record as of the close of business on March 1, 2021 will be eligible to receive this dividend. The company, headquartered in Bethesda, Maryland, continues its operations in advanced technology systems for security and aerospace, employing approximately 114,000 individuals globally.
Lockheed Martin Corporation (LMT) reported a strong fourth quarter for 2020, with net sales rising to $17.0 billion from $15.9 billion in 2019. Net earnings from continuing operations reached $1.8 billion ($6.38 per share), an increase from $1.5 billion ($5.29 per share) the previous year. For the entire year, net sales were $65.4 billion, up from $59.8 billion. The company also announced plans to acquire Aerojet Rocketdyne for $4.4 billion, aiming to enhance its propulsion systems and produce cost synergies. Cash from operations was $8.2 billion, reflecting robust operational efficiency.
On January 25, 2021, Sikorsky and Boeing introduced the DEFIANT X helicopter for the U.S. Army's Future Long-Range Assault Aircraft competition. Engineered to be the fastest and most maneuverable assault helicopter, DEFIANT X aims to transform military air operations. It boasts double the range and speed of the Black Hawk helicopter, enhancing survivability with advanced X2 Technology. The Army's request for proposal is anticipated later this year, with contracts expected in 2022. This collaboration highlights their extensive experience, having developed 90% of the U.S. Army’s military rotorcraft.
Lockheed Martin (NYSE: LMT) is set to host a live webcast of its fourth quarter and full year 2020 earnings results on Jan. 26, 2021, at 11 a.m. EST. The event will feature CEO James Taiclet, CFO Ken Possenriede, and VP of Investor Relations Greg Gardner, who will discuss financial results and key updates. Earnings results will be released before the market opens on the same day. An on-demand replay will be available until Feb. 9, 2021. Financial data will be accessible on the Lockheed Martin Investor Relations website.
Lockheed Martin has successfully completed assembly and testing of NASA's Orion spacecraft for its Artemis I mission to the Moon, officially transferring it to NASA's Exploration Ground Systems team. This spacecraft, designed for deep space exploration, will conduct a three-week uncrewed test mission to validate systems for future manned missions. The Artemis missions aim to explore the Moon and eventually send astronauts to Mars. Additionally, contracts for multiple Orion spacecraft have been secured, solidifying Lockheed Martin's role in future lunar explorations.
Lockheed Martin (NYSE: LMT) has been awarded a $1.28 billion Undefinitized Contract Action (UCA) by the F-35 Joint Program Office to enhance the operations and sustainment of the F-35 fleet until June 30, 2021. This contract is essential for maintaining the readiness of over 600 F-35 aircraft, facilitating training, maintenance, and global operations. The UCA aims to support a future fleet of more than 3,000 aircraft and improve mission capability rates, which are currently above 70%.
Lockheed Martin (NYSE: LMT) announced that Australia has declared Initial Operational Capability (IOC) for its F-35A fleet, becoming the seventh nation to do so. This milestone significantly enhances the Royal Australian Air Force's (RAAF) air power, providing advanced combat capabilities. The F-35 program has benefited over 50 Australian companies, generating approximately $2.7 billion AUD in contracts and creating over 2,400 high-tech jobs. Currently, Australia operates 33 F-35As, with RAAF crews logging over 8,780 flight hours.
Lockheed Martin has successfully acquired the Hypersonics portfolio from Integration Innovation Inc. (i3), enhancing its ability to design and develop integrated hypersonic weapon systems. The acquisition is expected to bolster Lockheed's strategic capabilities in the hypersonic domain. Mike Wicks, former CEO of i3, will lead the Hypersonic Engineering & Accelerated Technologies program at Lockheed. This transaction signifies Lockheed's commitment to advancing hypersonic technologies and offers potential growth in defense capabilities.
