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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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Lockheed Martin (NYSE: LMT) has announced a $750,000 investment in DarwinAI to support operationalizing their COVID-Net initiative, which diagnoses COVID-19 using chest X-ray scans. The funding, part of the Industrial Technological Benefits Policy, aims to make the technology accessible to healthcare professionals. The investment is linked to Lockheed Martin's obligations from a past aircraft purchase for the Royal Canadian Air Force. The COVID-Net project, initiated in response to the pandemic, is expected to facilitate better diagnostic tools in hospitals by year's end.
On Nov. 18, Lockheed Martin (NYSE: LMT) and the U.S. government submitted a proposal for the F-35 to Switzerland as part of the New Fighter Aircraft competition. The offer includes up to 40 F-35A aircraft and a customized sustainment solution. Additionally, Swiss industries could benefit from direct production contracts and cyber security projects related to the F-35. Lockheed Martin emphasizes that its proposal provides a 5th generation fighter at the cost of a 4th generation aircraft, designed to enhance Swiss sovereignty.
The fourth Lockheed Martin (NYSE: LMT)-built GPS III satellite, GPS III SV04, successfully launched from Cape Canaveral on November 5, 2020. After separation from the SpaceX Falcon 9 rocket, the satellite is now autonomously ascending to its operational orbit of approximately 12,550 miles. It boasts significant enhancements, including three times better accuracy and up to eight times improved anti-jamming capabilities. This satellite is integral to the U.S. Space Force's modernization efforts, with GPS III SV05 ready for launch. GPS contributes an estimated $300 billion annually to the economy.
Lockheed Martin will webcast a presentation by President and CEO James Taiclet at the Baird 2020 Global Industrial Conference on Nov. 12, 2020, from 10:15 a.m. to 10:45 a.m. EST. The webcast can be accessed at lockheedmartin.com/investor, with an audio replay available for two weeks after the event. Lockheed Martin, headquartered in Bethesda, Maryland, employs approximately 110,000 individuals globally and specializes in advanced technology systems and services.
Sikorsky, a Lockheed Martin company (NYSE: LMT), has secured a contract to produce six additional CH-53K King Stallion helicopters for the U.S. Navy, increasing total production under contract to 24 units. Deliveries are set to begin in January 2024. The contract reflects confidence in the CH-53K platform, aimed at enhancing the Marine Corps' heavy-lift capabilities. The aircraft has flown over 2,000 hours, demonstrating performance in various environments, with key milestones such as air-to-air refueling achieved this year.
On October 20, 2020, Lockheed Martin's OSIRIS-REx spacecraft successfully performed a Touch-And-Go (TAG) event on asteroid Bennu, marking the first attempt to collect an asteroid sample. The craft is tasked with collecting at least 60 grams of regolith, potentially up to 2 kilograms. The event is a major milestone in space exploration, with the sample expected to be returned to Earth on September 24, 2023. The mission was launched in September 2016, and Bennu's material could provide insights into the origins of life on Earth.
Lockheed Martin reported Q3 2020 net sales of $16.5 billion, up from $15.2 billion in Q3 2019. Net earnings reached $1.8 billion or $6.25 per share, compared to $1.6 billion or $5.66 per share a year earlier. However, cash from operations declined to $1.9 billion from $2.5 billion. CEO James Taiclet highlighted the company's resilience during the pandemic and expressed optimism about continued innovation and growth. Lockheed Martin anticipates ongoing support for national security efforts.
Lockheed Martin (NYSE: LMT) will host a live webcast of its third quarter earnings results on October 20, 2020, at 11 a.m. EDT. Key executives, including CEO James Taiclet and CFO Ken Possenriede, will discuss financial outcomes, recent updates, and address questions. Earnings results will be released before market opening on the same day. The webcast and financial materials will be accessible on the Investor Relations website. A replay will be available until November 3, 2020.
The Lockheed Martin Corporation (NYSE: LMT) announced a fourth quarter 2020 dividend of $2.60 per share, marking a $0.20 increase from the previous quarter. This dividend, payable on Dec. 24, 2020, is for shareholders on record by the close of business on Dec. 1, 2020. The board also approved an additional $1.3 billion for its share repurchase program, raising total authorization for future share buybacks to around $3 billion. These actions reflect the company's commitment to returning income to shareholders.
Lockheed Martin (NYSE: LMT) and the University of Colorado Boulder are set to launch the Janus mission in 2022, focusing on binary asteroids. NASA approved the initiative, allowing implementation, scheduling, and budgeting to commence. The mission will deploy two small, nimble spacecraft to explore pairs of binary asteroids, providing unprecedented data to enhance understanding of their evolution. The total mission cost is under $55 million, funded through NASA's SIMPLEx program. This mission aims to motivate further exploration of binary asteroids, advancing technology and science.
