Lockheed Martin Stock Price, News & Analysis

Lockheed Martin Corporation (LMT) reported Q3 2021 net sales of $16.0 billion, a slight decline from $16.5 billion in Q3 2020. Net earnings fell to $614 million or $2.21 per share, down from $1.8 billion or $6.25 per share the previous year. Despite stable cash from operations at $1.9 billion, the company anticipates a slight revenue decline in 2022 and low-single-digit growth in upcoming years. A noncash pension settlement charge of $1.7 billion impacted earnings. Lockheed plans to enhance reinvestment while rewarding shareholders through dividends and share repurchases.

Lockheed Martin (NYSE: LMT) is set to add over 300 new jobs at its Greenville, South Carolina facility by the end of 2022, focusing on F-16 production and sustainment. The hiring initiative includes sign-on bonuses up to $2,000 and relocation payments of $5,000. Roles open include airframe mechanics, avionics technicians, and more, with robust training available. The company emphasizes its commitment to supporting military veterans, with approximately 35% of current employees being veterans. Lockheed Martin's economic impact in the region is around $100 million annually.

Lockheed Martin Corporation (NYSE: LMT) has elected John M. Donovan to its board of directors, effective immediately. Recognized as an 'independent director', Donovan has extensive experience, previously serving as CEO of AT&T Communications until 2019. He held prominent roles at AT&T, VeriSign Inc., and Deloitte Consulting, contributing to his expertise in technology and operations. Donovan will join the Classified Business and Security Committee, enhancing the board's strategic capabilities. This appointment comes as Lockheed Martin continues to strengthen its governance and leadership.

Nanoracks, in collaboration with Voyager Space and Lockheed Martin (NYSE: LMT), is developing Starlab, the first free-flying commercial space station, expected to be operational by 2027. This continuously crewed platform aims to support research and industrial activities in low-Earth orbit. The initiative responds to growing demand for space services, focusing on materials research and astronaut activities. With extensive experience in space utilization and engineering, the team plans to leverage their expertise to create an economically sustainable and valuable platform for global customers.

Lockheed Martin (NYSE: LMT) announced it will host a live webcast for its third quarter 2021 earnings results on October 26, 2021, at 11 a.m. EDT. Key executives, including CEO James Taiclet, will discuss financial outcomes and updates on significant topics. Earnings results will be released before the market opens on the same day. An on-demand replay will be accessible until November 9, 2021. Investors can find relevant financial charts and the webcast on Lockheed Martin's Investor Relations website.

Lockheed Martin (NYSE: LMT) successfully launched the Lucy spacecraft from Cape Canaveral Space Force Station on October 16, 2021, marking a significant milestone in NASA's mission to explore the Trojan asteroids. The spacecraft is designed for a 12-year journey, covering 4 billion miles, and aims to study these ancient rocks, believed to provide insights into the solar system's origins. With advanced technology and a team of 500 professionals involved, Lucy sets the stage for groundbreaking scientific exploration.

Lockheed Martin (NYSE: LMT) announced the retirement of Space Executive Vice President Richard F. Ambrose, effective March 1, 2022, after over 20 years with the company. Ambrose has held various significant roles, including leading the company's $11 billion Space portfolio, which supports national security and commercial customers. Following the announcement of his successor, he will assist as a strategic advisor to ensure a smooth transition. Lockheed Martin expressed gratitude for Ambrose's contributions and leadership during his tenure.

Lockheed Martin (NYSE: LMT) has inaugurated a new hypersonic strike production facility in Courtland, Alabama, enhancing its advanced manufacturing capabilities. The 65,000-square-foot facility will support the U.S. Department of Defense's hypersonic programs, including Conventional Prompt Strike and Long Range Hypersonic Weapon. This facility integrates cutting-edge digital technologies to increase efficiency and output. Additionally, the expansion is expected to create approximately 70 new jobs, contributing to the region's workforce development.

The F-35 Joint Program Office and Lockheed Martin have finalized a production rebaseline, enhancing stability in the F-35 aircraft manufacturing process. Lockheed Martin plans to deliver 133-139 aircraft in 2021, increasing to 151-153 in 2022, and 156 annually from 2023. Over 700 F-35s are operational globally, supported by extensive pilot and maintainer training. The company, headquartered in Bethesda, Maryland, is involved in advanced technology systems and services, employing around 114,000 personnel.