Lockheed Martin raises sales target for 2024 due to increased F-35 deliveries and demand.

From Nasdaq: 2024-07-23 11:16:02

Lockheed Martin has raised its annual sales target after resuming deliveries of its F-35 aircraft following a software upgrade delay. The Pentagon will withhold payment until remaining enhancements are complete. Anticipated 2024 sales are between $70.5 billion and $71.5 billion. Increased demand for munitions due to conflicts in Ukraine and Israel also benefits the company.

Lockheed’s second-quarter net income of $6.85 per share surpassed estimates, with total quarterly sales increasing 8.5% to $18.12 billion. The TR-3 program upgrades the F-35 jets with improved hardware and software, crucial for maintaining its position as the world’s most advanced fighter aircraft. The company expects 75-110 F-35 deliveries in 2024.



Read more at Nasdaq: Lockheed Martin’s F-35 Deliveries Drive Sales Target Increase for 2024