Lockheed Martin Stock Price, News & Analysis

Romania has signed a Letter of Offer and Acceptance to acquire 32 F-35 Lightning II aircraft from Lockheed Martin through a U.S. Foreign Military Sale, becoming the 20th member of the F-35 global alliance. The integration will enhance NATO's deterrence capabilities and Romania's national security. The aircraft will work seamlessly with Romania's existing F-16 fleet, supported by the European F-16 Training Center established in Romania. Currently, over 1,000 F-35s are operational globally across 33 bases in 10 nations, with more than 940,000 flight hours logged.

Lockheed Martin Skunk Works, in collaboration with NASA Aeronautics, has initiated X-59 engine run testing, marking the final major system evaluation before taxi tests and first flight. This milestone represents the first time the X-59 operates on full internal power, focusing on verifying inlet and nozzle performance, structural interfaces, and engine control algorithms. The testing phase will include evaluations for electromagnetic interference, simulated in-flight failure modes, and emergency power system validation, followed by low-speed and high-speed taxi tests. The X-59 is designed to achieve quiet supersonic flight and aims to transform future commercial air travel.

Lockheed Martin (NYSE: LMT) and the U.S. Navy achieved a significant milestone in unmanned aviation with the first-ever live control flight demonstration of an uncrewed system using the Unmanned Carrier Aviation Mission Control Station (UMCS). The demonstration involved controlling a General Atomics MQ-20 Avenger using Skunk Works® MDCX™ autonomy platform. Navy Air Vehicle Pilots in Maryland successfully controlled the MQ-20 during its flight in California, demonstrating beyond line-of-sight capabilities. This advancement supports the Navy's Carrier Air Wing of the Future vision and marks progress in developing common control architecture for crewed-uncrewed teaming programs.

Lockheed Martin (NYSE: LMT) has completed its acquisition of Terran Orbital, a manufacturer of modular spacecraft serving aerospace and defense industries. The acquisition includes Terran's subsidiary, Tyvak International. The combined entity will leverage Terran's customizable spacecraft platforms with Lockheed's mission system integration expertise to enhance space capabilities.

Operating under Terran Orbital, a Lockheed Martin Company, the business will maintain its merchant supplier status while operating through Lockheed's Space business area. The company will focus on satellite design, production, launch planning, mission operations, and in-orbit support from its locations across Florida, California, Georgia, Virginia, and Italy.

Lockheed Martin [NYSE: LMT] reported third quarter 2024 financial results, with net sales of $17.1 billion, a 1% increase year-over-year. Net earnings were $1.6 billion, or $6.80 per share. The company generated $2.4 billion in cash from operations and $2.1 billion in free cash flow. Lockheed Martin returned $1.6 billion to shareholders through dividends and share repurchases.

Key highlights include:

• Increased share repurchase authority by $3.0 billion to $10.3 billion
• Raised quarterly dividend by 5% to $3.30 per share
• Increased 2024 financial outlook
• Record backlog of over $165 billion
• 48 F-35 deliveries in the quarter

The company is currently negotiating the F-35 Lots 18-19 production contract with the U.S. Government, which has impacted revenue recognition and cash flow in Q3 2024.

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.