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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 Chauncey McIntosh as the new vice president and general manager of the F-35 Lightning II Program, effective Dec. 1. McIntosh, who previously served as the vice president and deputy of the F-35 program, succeeds Bridget Lauderdale, who is retiring after 38 years with the company.
McIntosh brings over 20 years of experience in business, program management, engineering, and customer engagement. In his new role, he will be responsible for enhancing customer experiences, improving F-35 capabilities and reliability, and ensuring the program meets speed, agility, quality, and affordability requirements.
The F-35 is described as the most advanced, connected fighter aircraft globally, with 19 customers worldwide. Currently, more than 1,000 F-35s are operational, having generated over 922,000 flight hours and operating from 33 bases across 10 nations.
Lockheed Martin (NYSE: LMT) has announced a fourth quarter 2024 dividend of $3.30 per share, representing a $0.15 increase from the previous quarter. This marks the company's 22nd consecutive year of dividend increases. The dividend will be paid on Dec. 27, 2024, to shareholders of record as of Dec. 2, 2024.
Additionally, Lockheed Martin's board has authorized an additional $3 billion for share repurchases, bringing the total authorization for future repurchases to approximately $10 billion. The company retains discretion over the number of shares purchased and the timing of these repurchases, subject to compliance with applicable laws and regulations.
Lockheed Martin (NYSE: LMT) has announced its upcoming third quarter 2024 earnings results webcast, scheduled for Tuesday, October 23, 2024, at 11 a.m. ET. The company will publish its Q3 2024 results before the market opens on October 22. Key executives, including Chairman, President, and CEO James Taiclet, CFO Jay Malave, and VP of Treasury and Investor Relations Maria Ricciardone, will discuss the results, provide updates, and answer questions during the listen-only webcast.
The live webcast and accompanying presentation slides will be available on Lockheed Martin's investor relations website. An on-demand replay will be accessible through November 5, 2024, and a podcast will also be made available. Investors and interested parties can access additional information on the company's website.
NASA has awarded Lockheed Martin a $297 million contract to design and build the next-generation GeoXO Lightning Mapper (LMX) instruments for NOAA. The contract includes options for two additional instruments. LMX, an advanced version of the Geostationary Lightning Mapper (GLM), will be part of NOAA's GeoXO weather satellite system.
LMX will offer improved capabilities, including finer spatial resolution, faster imaging, and a wider field of view covering Alaska. It aims to detect 25% more lightning pulses, enhancing severe weather monitoring and prediction. This contract follows Lockheed Martin's recent $2.27 billion award to develop and build the GeoXO spacecraft, with the first launch planned for the early 2030s.
Lockheed Martin (NYSE: LMT) and Tata Advanced Systems have announced a teaming agreement to expand their collaboration on the C-130J Super Hercules tactical airlifter. The agreement aims to enhance India's defense capabilities and strengthen India-U.S. strategic ties. Key aspects include:
1. Establishing an MRO facility in India to support the Indian Air Force's C-130J fleet and other global Super Hercules fleets.
2. Expanding C-130J manufacturing and assembly in India for the IAF's Medium Transport Aircraft (MTA) program, subject to government approvals.
3. Potential production of up to 80 medium transport aircraft for the IAF, with Lockheed Martin proposing the C-130J-30 Super Hercules to meet requirements.
This agreement builds on the existing partnership between Lockheed Martin and Tata through their joint venture, Tata Lockheed Martin Aerostructures (TLMAL), which has produced over 220 C-130J empennages since 2010.
Lockheed Martin (NYSE: LMT) has announced the delivery of two C-130J-30 Super Hercules tactical airlifters to the Egyptian Air Force through a Foreign Military Sale with the U.S. Air Force. This makes Egypt the 23rd nation to join the worldwide Super Hercules operating community. The C-130J-30 offers enhanced capability, versatility, and power to Egyptian crews, complementing their existing large C-130H fleet.
Egypt joins seven other Middle East North Africa (MENA) operators that have chosen the C-130J. The Super Hercules leads in tactical airlift missions, with over 545 C-130Js delivered and the global fleet surpassing 3 million flight hours. Key advantages include proven operational readiness, increased reliability, superior tactical airlift capabilities, and enhanced survivability.
Lockheed Martin (NYSE: LMT) has announced that its Chairman, President and CEO Jim Taiclet, along with CFO Jay Malave, will be speaking at the Morgan Stanley Conference on Thursday, Sept. 12. The presentation is scheduled for 3:15 p.m. to 3:45 p.m. ET.
The event will be webcast live and can be accessed through Lockheed Martin's investor relations website. For those unable to attend or watch the live stream, an audio replay will be available for two weeks following the presentation. This event provides an opportunity for investors and analysts to gain insights into Lockheed Martin's current operations and future strategies directly from its top executives.
Lockheed Martin unveiled Poland's first F-35A Lightning II, named 'Husarz', at a ceremony in Fort Worth, Texas. This marks a significant milestone for the Polish Air Force and strengthens the U.S.-Poland alliance. Poland will receive 32 F-35As, with the first delivery scheduled for December 2024. The aircraft will be based at Ebbing Air National Guard Base, Arkansas, where Poland will be the first international customer to conduct F-35 pilot training.
The F-35 is described as the NATO aircraft of choice, enhancing Poland's leadership in the alliance and improving interoperability with allies. To date, Lockheed Martin has delivered over 1,000 F-35s globally, trained more than 2,540 pilots and 16,690 maintainers, with the F-35 fleet surpassing 889,000 cumulative flight hours.
Lockheed Martin [NYSE: LMT] has announced a definitive agreement to acquire Terran Orbital [NYSE: LLAP], a leader in satellite-based solutions for aerospace and defense industries, for an enterprise value of approximately $450 million. The acquisition aims to expand Lockheed Martin's advanced satellite manufacturing and responsive space capabilities. Terran Orbital brings high throughput, robotic manufacturing capacity and high-performing modular space vehicle designs to the table.
The transaction, expected to close in Q4 2024, involves Lockheed Martin acquiring Terran Orbital for $0.25 in cash per share and retiring its existing debt. A new $30 million working capital facility has been established. Upon closing, Terran Orbital will remain a commercial merchant supplier to the industry. The acquisition builds on a seven-year working relationship and aligns with Lockheed Martin Space's strategic plans to meet customer demands for advanced technology and faster product development.
Lockheed Martin (NYSE: LMT) has delivered the first of five C-130J Super Hercules tactical airlifters to the New Zealand Ministry of Defence and New Zealand Defence Force. This marks the beginning of a new era in tactical airlift capability for New Zealand, replacing their aging C-130H fleet. The Royal New Zealand Air Force's 40 Squadron will operate the new C-130Js, which represent one of the most advanced configurations of the Super Hercules ever produced.
The C-130J offers increased allied alignment, greater reach, enhanced capabilities, and proven performance for demanding tactical airlift operations. Key advantages include operational readiness, increased reliability, superior tactical airlift and combat airdrop capabilities, and enhanced survivability. The aircraft also provides unmatched interoperability with NATO and global air forces, along with verified low life-cycle costs and significant fuel savings, resulting in a reduced carbon footprint compared to other medium-sized jet airlifters.
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